Steady Gold futures define the dark side of the global economy at present, while the Fed has acknowledged that corporate bond-buying could slow if market conditions improve further, the growing number of coronavirus cases in the U.S. will likely make equity bulls attempts futile, as they only attract bears.
The S&P 500 Futures have been feeling the impact of the precarious economic situation, and look to be facing stiff resistance at 3168 that may push them back into the bearish territory, despite their strong move amid reopening hopes. I find that a sustainable move of S&P 500 futures below the level of 3080 before this weekly closing could confirm a long bearish trend ahead.
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