Annual Forecast for S&P 500 (2022)

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S&P 500 price (SPI:SP500) has already given a bearish signal, as a result of the formation in the chart. The bearishness in this month of January is considerable enough and it may end the bullishness that was experienced most of last year.

Price is currently below the lower Trendline and it has closed below it. The RSI period 14 has also slipped below the level 40, intending to go further lower.

The only scenario that would render this bearish outlook invalid is a situation in which price closes above the lower Trendline, and that is not going to happen anytime soon. It is even expected that the RSI period 14 would go into the oversold territory.

The outlook on S&P 500 is thus bearish for this year and the support levels at 4500.00, 4400.00 and 4300.00. will be breached before the end of this year.

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