S&P 500 Forecast: Choppy After NFP stocks nonfarmpayroll jobs
are both flat and above the candlesticks of the last few days, which typically indicates that the market is trying to figure out its next move. If the market breaks down below the bottom of Friday's candlestick, the S&P 500 could go looking for support at the 3800 level, which was the scene of a major swing low. Any further declines could result in a significant amount of selling pressure and be negative for the S&P 500.
The S&P 500 has been experiencing back-and-forth movement during the trading session on Friday, with mixed results from the jobs report. The intentions of the Federal Reserve are clear, and the market is trying to figure out its next move. If the market breaks down, the S&P 500 could look for support at the 3800 level, while breaking above the moving averages could lead to a potential run toward the 4100 and 4200 levels.
Overall, the market is characterized by volatility, which could lead to lower prices over the longer term.
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