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S&P 500 Futures: Bears Look Aggressive

By Satendra SinghMarket OverviewApr 09, 2021 02:05AM ET
www.investing.com/analysis/sp-500-futures-bears-look-aggressive-200571980
S&P 500 Futures: Bears Look Aggressive
By Satendra Singh   |  Apr 09, 2021 02:05AM ET
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On analysis of the jolting moves of S&P 500, I find that despite a steep jump in S&P 500 futures were indicating weakness on Wednesday amid growing dilemma among the investors as the Minutes of the Fed's last policy meeting showed members felt the economy was still short of the target and were in no rush to scale back their $120 billion a month of bond buying.

Secondly, the Labor Department had reported that the initial jobless claims rose to 744,000 last week, disappointing hopes that they would resume their downward trend. Economists had predicted a number of around 680,000. The broadest measure of those claiming unemployment-related benefits, including two pandemic-related schemes inched down by 51,000 to 18.16 million.

Finally, I conclude that fresh bouts of selling could cap further upward moves above the recent high. There is no doubt that the S&P 500 futures could find it difficult to sustain above 4092. I find that the fresh shorts above 4082 could push S&P 500 futures towards a lower level up to this weekly closing.

S&P 500 Futures Daily Chart
S&P 500 Futures Daily Chart


Disclaimer

1. This content is for information and educational purposes only and should not be considered as investment advice or an investment recommendation. Past performance is not an indication of future results. All trading carries risk. Only risk capital be involved which you are prepared to lose.

2. Remember, YOU push the buy button and the sell button. Investors are always reminded that before making any investment, you should do your own proper due diligence on any name directly or indirectly mentioned in this article. Investors should also consider seeking advice from an investment and/or tax professional before making any investment decisions. Any material in this article should be considered general information, and not relied on as a formal investment recommendation.

S&P 500 Futures: Bears Look Aggressive
 

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S&P 500 Futures: Bears Look Aggressive

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Comments (2)
Ali Qazi
Ali Qazi Apr 09, 2021 12:23PM ET
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This is a BOT , misleading ppl. its a BULL
R k Mad
BeRight Apr 09, 2021 9:22AM ET
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Why do you keep on writing? Nobody pays any attention to you " always wrong" stuff. Just look out for your fans in the NG forum, Haha...
 
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Disclaimer: This analysis is purely based on the technical observations. I do not have any position in Natural Gas. One can create position in Natural Gas at his/her own risk.
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