Get started
S&P 500 Index
Short

Futures Slide as AMZN & Intel Disappoint; Key Jobs Data Awaited

By SroshMayi
Futures Slide as Amazon and Intel Forecasts Disappoint; Jobs Data Awaited

U.S. index futures fell sharply on Friday following downbeat forecasts from Amazon and Intel. Investors are now awaiting a crucial jobs report for further insights into the labor market amid ongoing concerns over an economic slowdown.

S&P 500 Analysis: Downside !!!

The S&P 500 dropped sharply as noted yesterday and continues to trend bearish.

  • Bullish Scenario:
    For a shift to a bullish trend, the price needs to stabilize above 5,409, potentially reaching 5,438 and 5,460.

  • Bearish Scenario:
    If trading continues below 5,409, the price is expected to drop to 5,372 and 5,345.

  • Key Levels:
    - Pivot Line: 5,409
    - Resistance Levels: 5,438, 5,460, 5,491
    - Support Levels: 5,372, 5,346, 5,320

  • Today's Expected Trading Range:
    The price is anticipated to fluctuate between the resistance at 5,438 and the support at 5,320.

    Today's Non-Farm Payroll (NFP) and Unemployment Rate reports are expected to significantly impact the market.
    Previous idea:
    S&P 500 Futures Rise on Rate-Cut Hopes; Meta Surges
SPX (S&P 500 Index)S&P 500 (SPX500)Supply and DemandSupport and ResistanceTrend Analysis
SroshMayi
my free signals channel telegram

t.me/Srosh_signals

~6 analyses per day. With a clear entry point
more than 1000 pip per week —— Accuracy +88%

SM World and Economy News 24/7
Urgent News ⚡️:

t.me/SM_News_24h
Also on:

Related publications

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.