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Gold Shows Strength, While S&P 500 Futures Could Slide Ahead
www.investing.com/analysis/spx-stimulus-or-a-steroid-to-lessen-corona-led-lockdowns-200518785/
Gold Shows Strength, While S&P 500 Futures Could Slide Ahead
By Satendra Singh | Mar 25, 2020 08:16AM ET On analysis of the movements of S&P 500 futures in different time frames, I find that the SPX may have received temporary relief by the U.S. lawmakers who finally reached an agreement on an estimated $2 trillion stimulus package aimed at shielding the U.S. economy from the worst consequences of the coronavirus pandemic. Expectations are high that the deal could be passed into law as early as later Wednesday.
S&P 500 Futures have been facing stiff resistance at the level of 2468. If the resistance level remains constant, it could result in a sudden sell-off on Wednesday, any time if, especially if the index is not able to make a sustainable move above 2468 before the opening bell Wednesday. There is no doubt that the S&P 500 futures have been at the critical level below 2424, which ensures a steep slide ahead.
I find that the prevailing strength in Gold futures shows the upcoming meltdown in global equity markets due to growing fear of global lockdowns, which may continue to hamper the global growth for a long time.
Disclaimer
1. This content is for information and educational purposes only and should not be considered as an 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 - Outlook For The Week Of March 22nd
S&P 500 Futures - Outlook For The Week Of March 22nd
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Gold Shows Strength, While S&P 500 Futures Could Slide Ahead
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