Forecasts & Analysis | S&P 500, Page 1

Indices performed greatly in yesterday’s trading session but as the day progressed, traders gave up on earlier gains, this can potentially be a negative sign making this session a very significant one. 

With the market front-running the idea that we’re seeing signs of an upcoming plateau in the case count in certain countries. And, feeling somewhat assured (complacent?) that the economic shocks are mostly discounted, liquidity has come to the forefront and drive risk.

But assuming the reporting lag was a one-off event, the buy-in yesterday suggests there some big funds looking to put money to work as arguably there a ton of cash on the sidelines.

Stock markets broke higher during the trading session on Tuesday but gave back quite a bit of the gains to show just how difficult it is going to be to continue going higher.

Based on the early price action and the current price at 2724.50, the direction of the June E-mini S&P 500 Index the rest of the session on Tuesday is likely to be determined by trader reaction to the downtrending Gann angle at 2731.00.

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The S&P 500 rallied significantly during the trading session on Monday, reaching towards the 2600 level. Furthermore, there is a significant amount of resistance near the 2640 handle as well.

The earnings season begins amidst coronavirus pandemic so investors and traders should expect plenty of volatility

Based on the early price action and the current price at 2577.50, the direction of the June E-mini S&P 500 Index the rest of the session on Monday is likely to be determined by trader reaction to the minor pivot at 2530.25.

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