S&P: final battles

S&P: final battles

2020-06-24 • Updated

Two weeks ago, we were seeing the stock market and the S&P decline. On June 11, we provided prognosis that it would be a wave down to the levels of 3,000 after which a leap up would launch.

Eventually, it happened exactly like that although we missed in accuracy: the drop was down to 2,950.

Currently, the S&P is on the rise. Trading at 3,120, it is still below the last high, fighting through the fears of the second-wave virus.

The current wave, the fourth in the row of bullish pushes, would be the one to finally punch through the pre-virus high. For this reason, it may take longer to do that, and the wave may get protracted over time. The main reason for that is that significantly positive fundamental input and data are required to push the S&P above the pre-virus high: saying “we have recovered” needs proper justification.

Therefore, here are three areas we expect the S&P to go through in the mid-term.

The most optimistic scenario would follow area 1, with the swiftest recovery reaching 3,230 and above. Very likely, that’s too good to be true.

The pessimistic scenario is represented by area 3. It’s gravity would bend the overall uptrend into an almost sideways move parallel to horizon. Eventually, it would climb upwards by coming and securely to 3,230 would take a month in this case.

The neutral scenario falls into area 2 which is in between the pessimistic and the optimistic trajectories. It supposes there would be some turbulence on the way but the trend would be still at a steady 45 degrees aiming upwards.

Therefore, let’s watch the news and prepare for battles.

2.png

                                                                                                LOG IN

Similar

Top Stocks to Trade this Earnings Season
Top Stocks to Trade this Earnings Season

The S&P 500 had a good week due to the impressive start of Q1 earnings and favorable inflation data. In March, the consumer price index rose 5%, lower than the previous month's 6%, and met economists' expectations.

Top Stocks to Invest in 2023
Top Stocks to Invest in 2023

The previous year 2022, was undoubtedly tumultuous for the stock markets, with several stocks plummeting across multiple industries. Analysts have blamed the hard times on inflation, hawkish federal reserve policies, an impending global recession, and the ongoing crisis in Ukraine. This year, however, we're beginning to see some recovery in the stock markets. This article will find a few stocks worth buying this year.

MSFT faces gloomy forecasts ahead of earnings report
MSFT faces gloomy forecasts ahead of earnings report

In a call scheduled for January 25, 00:30 am GMT+2, Microsoft will publish the company's earnings for the final quarter of 2022 and comment on the results, projections, and outlook for the nearest future of the company.

Latest news

Gold and the Majors ahead of the NFP
Gold and the Majors ahead of the NFP

Let's dive into the latest developments shaping the global economic landscape. Good news first: the threat of an unprecedented US debt crisis has receded, as US lawmakers passed a bill to raise the debt ceiling and avoid a catastrophic default. Phew! But don't pop the champagne just yet, because storm clouds are still looming. High inflation, rising interest rates, and sluggish growth are challenges that have yet to disappear.

The Oil Market in the Month of June
The Oil Market in the Month of June

Thanks to the incredible advancements in horizontal drilling and fracking technology, the United States has experienced a mind-blowing shale revolution. They've become the heavyweight champion of crude oil production, leaving Saudi Arabia and Russia in the dust. They even turned the tables and became net exporters of refined petroleum products in 2011.

Gold’s Next Move Could Be Huge!
Gold’s Next Move Could Be Huge!

Let's dive into the world of gold. Currently, the price of gold, represented by XAUUSD, is stuck in indecision, hovering around the $1,975 mark. The market is anxiously awaiting two important factors: the release of the Federal Reserve's meeting minutes and the extension of the US debt ceiling.

Deposit with your local payment systems

Feel the Team Spirit

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera