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Stock Market Update: S&P 500 Struggles Amid Uncertainty – What’s Next?
In a rollercoaster trading session on Thursday, the S&P 500 experienced significant fluctuations, closing 0.51% lower. Investor sentiment remains cautious as the market shows a bearish bias. However, with the Core PCE Price Index release, there is a glimmer of hope as the S&P 500 is expected to open 0.7% higher today.
Is the market forming a bottom pattern? While it’s a possibility, the clear downtrend suggests that recent fluctuations may just be a temporary consolidation before another leg down. Keep an eye out for upcoming earnings data next week and the important FOMC Rate Decision on Wednesday.
As an expert in financial markets, my speculative short position in the S&P 500, opened on July 9, continues to be profitable. The recent AAII Investor Sentiment Survey shows a worsening sentiment, with more investors turning bearish.
The Nasdaq 100 has been selling off, leading the market lower after earnings releases from big tech companies. However, there may be a short-term bottom in sight, with a potential consolidation or rebound on the horizon.
The VIX, a measure of market fear, has been climbing, indicating increased uncertainty in the stock market. Futures contract volatility suggests a possible short-term bottom forming.
In conclusion, the stock market faces uncertainty in the coming days. Earnings releases and the Fed’s decision next week will be crucial. While seasonal patterns point to a possible low in October, the current downtrend suggests a short-term upward correction may be on the horizon.
My speculative short position in the S&P 500 futures contract has become even more profitable. As we navigate these turbulent times, it’s important to stay informed and cautious in your investment decisions.
Breakdown:
– S&P 500 shows signs of bottoming pattern
– Investors await big-tech earnings releases
– Short-term outlook remains bearish
Stay tuned for more updates from the world’s best investment manager.