S&P 500: Eek Could Eke Out Weekly Gains

All industries in the United States added and many people rejoined the labor force. A measure of the economy’s ability to create employment also improved. But the road to full recovery remains long. The jobs deficit is still huge as more than four million Americans have been for over six months.

The job numbers announcement was made on Friday, and most of the markets could not react to this because it was Good Friday. So, there is no doubt that currency pairs, metals, and global equity markets could overreact on the first trading session of the week. There is no doubt that this could lead to high-pitch volatility on Monday.

Amid growing hopes for a reversal in economic recovery, tested a lifetime high on Apr. 1, 2021 at 4037.62 before closing the week at 4027.12 that has increased the anxiety among investors over its next move.

I feel that the resurgence of COVID-19 could delay the recovery process once again. Last-hour selling indicated the prevalence of bears above 4000 could continue to thrash bulls during the upcoming week due to the  

S&P 500 Futures 4 Hr. Chart

S&P 500 Futures 4 Hr. Chart
S&P 500 Futures 1 Hr. Chart

S&P 500 Futures 1 Hr. Chart
S&P 500 Futures 15 Minutes Chart

S&P 500 Futures 15 Minutes 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.

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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