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S&P 500 (^GSPC)

SNP - SNP Real-time price. Currency in USD
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3,901.36+0.57 (+0.01%)
At close: 04:20PM EDT
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  • L
    Logan
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  • S
    Smolley
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  • B
    Brandon
    Like I said, Wall Street REALLY doesn't want this to close in bear market territory.

    Let's see if they have the cash to sustain this for another 20 minutes
  • B
    Brandon
    Next week we have the FOMC May meeting minutes on Wednesday at 2 pm. I suspect those minutes will show increased hawkish sentiment across the FOMC members. They have all been getting beat up over inflation, and they are very aware of that.

    On Friday we have PCE Inflation data for April due at 8:30 AM. It will be interesting to see if this data is at odds with the CPI data we have already seen from April.

    I fully expect some more wild swings either way next week. There is still LOTS of froth here, and we are close to bear market. The panic is continuing to build day by day as evidenced by the wild daily swings.
  • D
    DakotaKid
    The Fed "will start culling assets from its $9 trillion balance sheet in June and will do so at nearly twice the pace it did in its previous "quantitative tightening" exercise as it confronts inflation running at a four-decade high." (Reuters 5-4-22) With that and further monthly rate hikes until their stated goal of 2% inflation is achieved, we may well see the SP500 near or under 3000 by the end of the summer. Not too mention a move down in real estate prices. The chickens are finally coming home to roost. Staying on the sidelines for now. Good luck all!
  • B
    Brandon
    Sounds like Melvin Capital liquidated all of their assets yesterday in anticipation of paying out investors and closing their fund. That may have had a significant impact on the markets yesterday with the low volume.

    My guess is we don't see any wild swings up or down until inflation data next week. Even then, it will probably be somewhat of a muted response. I would expect the PCE data to be somewhat inline with the CPI data that was already released.

    The beginning of next month will be the real test. When the FED stops buying MBS and Treasuries we will see how much support the market really has.
  • B
    B
    3,836 would be 20% down from its high of 4,796 on Jan 3rd. 3,836 is the official Bear line it would need to cross.
  • J
    Jeff
    Ahhh, the usual friday 401k distributions from millions of paychecks, causing a slight bounce, nothing more, may make one more run for 4100, but won't make it.
  • B
    Brandon
    This sure seems like the same setup as yesterday.

    I am thinking this will bleed off by the end of the day and we will end up in the red again.
  • J
    Jeff
    The market was 3380 BEFORE the pandemic, think about that people, and nearly everything economically is much worse.
  • J
    Jim Smith
    if market goes up, then gas and home prices go up. i can afford neither at this point.
  • M
    Mr Riff
    Imagine being so delusional that you think you are going to ride up a chart that looks like a rainbow full of colors on the way up mounted on a magical unicorn and reach 5500-6000 in 3-6 months while yelling watch and learn!!! to then realize you are riding the rainbow on the other side, the way down and there's no pot of gold for you because you've been buying the dip at -3% and -5%. Imagine being so stubborn that you disregard the Fed and market and economic fundamentals and any other advice from experienced investors. Imagine thinking that the fact that the S&P has never failed to make a higher high is something only you know. Imagine thinking Apple cannot possibly breakdown after going from a PE of 9 to A PE of 28 in only 3 years. lol. Here we are sitting at -20%. Hate To SaY i tOLD yOU sO.....
  • K
    Kimchi
    To all smart investors, the S&P 500 is continue to drop slowly until the end of July. July is the worst performance of the year, and it could drop down between 3,100-3,700. I know a lot of NEW YOUNG TRADERS are still waiting for the S&P 500 drop down more in order to get a very good bargain to entry S&P 500 stock. I would say between 3,100-3,700, be patient it will get there.
  • t
    tronald
    Wasn’t crypto supposed to be a hedge on inflation?! 😆😂🤣🤦🏻🤦🏻🤦🏻
  • J
    Jerry
    And I thought today would be an up day….. Glad I kept my puts!
  • J
    Jeff
    Denial — In this initial stage, the prevailing view is that stock-market weakness is nothing more than a buying opportunity. Far from getting angry (see next stage), investors remain quite sanguine, since the market’s pullback offers an opportunity to buy stocks more cheaply than would have been the case had the bull market kept going.

    Anger — Denial becomes increasingly difficult to sustain as the market’s pullback becomes too severe. Investors’ mood eventually morphs into anger, as they rail against the unfairness of the pullback. A hallmark of this stage is where investors see the pullback as a personal affront — as if the market cares whether you or I lose money.

    Bargaining — In this stage, investors’ redirect their energies to figuring out if they can maintain their lifestyles despite the hit to their portfolio; retirees rejigger their financial plans. Investors promise to give up that fancy new car or the European vacation — the fat from their budgets — so long as they don’t have to cut bone.

    Depression — As the market continues to slide, the realization sets in that cutting the fat isn’t going to be enough. Major changes in lifestyle will be required. Near-retirees work for longer than originally planned; retirees go back to work.

    Acceptance — In this final stage, investors throw in the towel. They surrender to the bear market and stop even fantasizing about when it might end. They treat any sign of market strength as a suckers’ rally, luring the gullible into losing more money on the next leg down.
  • B
    Brandon
    Wall Street really wants to prevent this from closing in bear market territory. Not much steam in the rally though it seems.

    I put it at 50/50 closing below 3840.
  • B
    Brandon
    Trai has 5k in a Robinhood account most likely. He fully expects to turn it into 500k in the next 5 years.

    The last 2 years of market behavior has taught Gen Z that this is a perfectly reasonable expectation.

    I feel horrible for these kids and I am very thankful I did not enter the market right after the pandemic drop like most of them did. This is going to be a very tough change to adjust to.
  • K
    Kimchi
  • J
    Jenny
    Bear market formally started