S&P 500 Forecast: Continues to Wait for Jerome Powell

I do think that a big move is coming, but I would not be surprised at all to see a lot of noisy shakeouts over the next couple of days, so you need to be very cautious.

The S&P 500 E-mini contract has done very little during the training session, as we sit just below the 200 Day EMA. The 200-Day EMA is an indicator that a lot of people pay close attention to, and therefore it does make a certain amount of sense that we are hanging around in this area. It is also worth noting that we are between the 50-Day EMA underneath, and the 200-Day EMA, suggesting that we are getting ready to squeeze.

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