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