Weekly Recap & Market Forecast $SPX (Nov 3rd—> Nov 8th)
Looking Ahead:
Next week promises to be pivotal with several major events on the docket:
- **U.S. Presidential Election:** A crucial event that could reshape fiscal and economic policies.
- **Fed Policy Decision & Powell Press Conference:** The market will closely watch for signals about future rate paths.
- **U.S. Jobless Claims:** Key data to gauge the health of the labor market.
As we move forward, these developments will be crucial in shaping market sentiment and guiding investment decisions. **Timing is key in trading. Check our [trading corner]https://www.notion.so/007ofWallSt-Trading-Corner-6b398b136e334741b12786424d208829?pvs=21 for time stamps on these important events and stay ready for what’s ahead.** Here’s to another week of informed investing and strategic decision-making! 🌟
Market Forecast (Updated 11/03/2024)
**SPX** - Most of the Mag 7 stocks reported really good numbers but issued weak guidance. With FOMC and Election decision this week, We should see a lot of volatility.
Next resistance: 5,824 and 5,893
Next support: 5,705, followed by 5,600
Weekly Sentiment: Mixed
Next week promises to be pivotal with several major events on the docket:
- **U.S. Presidential Election:** A crucial event that could reshape fiscal and economic policies.
- **Fed Policy Decision & Powell Press Conference:** The market will closely watch for signals about future rate paths.
- **U.S. Jobless Claims:** Key data to gauge the health of the labor market.
As we move forward, these developments will be crucial in shaping market sentiment and guiding investment decisions. **Timing is key in trading. Check our [trading corner]https://www.notion.so/007ofWallSt-Trading-Corner-6b398b136e334741b12786424d208829?pvs=21 for time stamps on these important events and stay ready for what’s ahead.** Here’s to another week of informed investing and strategic decision-making! 🌟
Market Forecast (Updated 11/03/2024)
**SPX** - Most of the Mag 7 stocks reported really good numbers but issued weak guidance. With FOMC and Election decision this week, We should see a lot of volatility.
Next resistance: 5,824 and 5,893
Next support: 5,705, followed by 5,600
Weekly Sentiment: Mixed
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