United States equities market may have more upside momentum.

S&P500 Chart ( U.S benchmark Index; expresses how 500 large U.S companies are performing)
Bullish: $4800 — Bearish $3400 (Based on some analyst, economist and wealth strategist)

Where the fundamentals and technicals make sense.

The Good but Bad news

Employment change and jobless claims rates announced today is the “good but bad news”. The economy slightly remains in a “growth” phase indicating we have a little more gas in the tank.(Some analyst think we can drive until year end). Whereas the Federal reserve is trying to ease inflation to slow down economic “growth”. We can see now why the equities market is bearish and slightly bullish at the same time.
- Payroll and unemployment rates are announced tomorrow morning @ 830am(Eastern Time)

Cheaper GAS prices?

Earlier this week EU leaders also banned Russian oil contributing to the scarcity of oil and an increase in gas. Saudi Arabia has agreed to increase oil production to help assist with the oil supply issues.
We may not have to stand in the heat this summer to watch the gas meter after we’ve chosen between a full tank or an overpriced bottle of water for while we still stand and watch the meter. lol

The feelings of uncertainty
-Larry Fink (CEO of BlackRock) comments on economic conditions. Sourced from an exclusive interview on Bloomberg.com

Suggest the equities market will provide investors with the feeling of uncertainty in the near future. Supply chain issues, policy changes and the transition to a consumer based economy are the causes of inflationary problems. “The Federal Reserve doesn’t have the tools to fix these issues”—a comment from Larry Fink. While the federal reserve can slow down consumer spending and business growth is still doesn’t address the supply chain constraints, company business models and for those who still have enough in the bank or earn enough to afford — consumer demand.

Comments:
The bullish sentiment may be from an expected decrease in gas prices, steady employment and job growth, consumer spending despite being overpriced. Indicating businesses net income and revenue still have some room to grow.

The bearish sentiment may be from the federal reserve expectations of an increase in unemployment, jobless claims and interest rates. Along with a decrease in job openings, consumer spending and banks holding on to more cash.

So, whether you’re a fundamental or technical investor/ trader, here’s both. Be careful where you're putting your monies.