S&P 500 (SPX) Forecast, Page 1

Boris Johnson is moved to critical care

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.

Payrolls drop 701,000 for March

The stock markets initially tried to rally to the week, but as you can see have given up a significant amount of gains. The S&P 500 tested a major moving average on the weekly chart but failed.

The stock markets were slightly negative during the trading session on Friday after a particularly bad jobs number, but quite frankly have held up relatively well considering the scenario.

After Wednesday’s slide, the S&P 500 moved higher yesterday. While the move itself hadn’t surprised us as we’ve earlier called for a pause in the downswing, the question is whether we can expect some more upside shortly.

See what to expect today and next week as we have some huge moves about to start up again.

I’m not so much a bear as a realist and not buying into the notion that this is a temporary dip followed by a huge rebound. Voluminous job losses and bankruptcies could lead to permanent wealth deviation.

Today, we’re going to show you what the longer-term Adaptive Fibonacci Price Modeling system is suggesting for the S&P and NASDAQ.

Jobless claims rise by 6.2 million

Stock markets have been back and forth during the trading session on Thursday as the initial jobless claims number was over 6 million, twice what was anticipated. This has set off an ominous tone, but it is worth noting that support has held.

Based on the early price action and the current price at 2454.50, the direction of the June E-mini S&P 500 Index the rest of the session on Thursday is likely to be determined by trader reaction to the support cluster at 2430.00 to 2427.00.

The new week has brough a decline for major indices with interesting movements in the commodities sector.

US indices ended Wednesday with a 4.4% loss on S&P500 and Dow Jones. Trump’s warning of horrors to come caused pressure on the markets and became an unexpected pressure factor for the market.

Sentiment remains exceptionally fragile as investors are a flat-out bundle of nerves fretting over the potential impact the coronavirus will have in the US markets and the economy. 

Private payrolls drop

The S&P 500 fell a bit during the trading session on Wednesday after forming a relatively soft candlestick on Tuesday. At this point though, we are still in the same range.

Major indices in the US and Germany managed to bounce from the 38,2% Fibonacci level which is currently considered a crucial resistance level and a major level in the coronacrash rebound.