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04.01.202212:37 Forex Analysis & Reviews: Review on the US market as of January 4

Exchange Rates 04.01.2022 analysis

S&P 500

The US market continues to rally, which is a bit worrying. It edged higher at the end of 2021 and began this year with further growth.

It clearly ignored the outbreak of omicron in the world, where just this week nearly 2 million cases were recorded each day. The US even accounted for more than 500,000 infections. Fortunately, mortality and hospitalizations are low compared to the previous variants.

Even so, the Fed has turned towards tighter monetary policy, so a correction is only a matter of time. As of now though there will be growth, and this can be seen on the recent 10% increase in Tesla shares.

US indices this week:

Dow is up 250 p or + 0.6%, ranging from 36.330 to 36.580.

NASDAQ is up 60 p or 0.4%, ranging from 15.770 to 15.830.

S & P 500 is up 12 p or 0.3%, ranging from 4.784 to 4.796.

Forecast:

Dow will range from 36.200 - 36.700.

NASDAQ will range from 15.600 - 16.000.

S & P 500 will range from 4.720 - 4.850.

Conclusion: A rebound may take place soon.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Jozef Kovach,
Analytical expert of InstaForex
© 2007-2022
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