S\u0026P 500 Forecast: Index Slams into 200-Day EMA

I suspect that the market is essentially throwing a tantrum to catch the attention of the Federal Reserve. After all, it is the central bank trying to raise interest rates that scares a lot of traders out there, as getting some type of easy return in the bond market instead of messing around with the growthbecomes the easier trade. Algorithms will certainly pay close attention to the 200 day EMA, and at this point in time the market needs to find some reason to bounce.

On the other hand, if we break down below the 200 day EMA, it is very likely that we will go looking towards the 4250 handle, maybe even the 4000 level after that. That could be a massive correction of 20% waiting to happen, at which point I suspect that the Federal Reserve may pay close attention. This is the same thing that we had seen back in 2018, when the market threw a temper tantrum about Federal Reserve Chairman Jerome Powell suggesting that the bond purchases were going to stop.

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