The FX PostThe FX Post
    What's Hot

    FlatQube Trade Volume, Trade Pairs & Trust Score

    November 7, 2022

    Step Guide to Winning Forex Trading

    September 19, 2022

    Relationship Between Currency Risk and Foreign Bonds

    September 2, 2022
    The FX Post The FX Post
    • Best Fx Robots
    • Forex
      • News
      • Forex 101
      • Forex Forecasts
      • Broker Reviews
    • Crypto
      • News
      • Crypto 101
      • Crypto Forecasts
      • Crypto Reviews
    • Indices
      • News
      • Analysis
      • Commodities
      • Reviews
    • Automated Trading
      • Forex Signals
      • Forex Robots
      • Copy Trading
    • Top
      • Best Forex Robots
    The FX PostThe FX Post
    Home » S&P 500 Facing Bearish Dominance: July 19 – 23 Analysis & Forecast
    Forex Forecasts Indices

    S&P 500 Facing Bearish Dominance: July 19 – 23 Analysis & Forecast

    July 16, 20214 Mins Read
    Facebook Twitter Pinterest LinkedIn Reddit
    11-21 Wall St
    Share
    Facebook Twitter LinkedIn Pinterest Reddit

    The S&P 500 index dropped on Friday, July 16, posting losses of 0.20%. The price of the S&P 500 index remains negative below the key 4350 levels. The risk sentiment is deteriorated by the end of the week on July 16, 2021. 

    The coronavirus cases are surging throughout the globe because of the recent Delta strain, which is more contagious. The risk appetite of investors is diminishing in such an environment. 

    Markets are invaded by algorithms
    Secure your passive income with algo-based trading systems
    Learn more

    • S&P 500 index is on the backfoot amid risk-off sentiment. 
    • Covid concerns and poor performance in US equities are weighing on the index. 
    • The Fed’s mixed outlook is helping the negative side only. 

    S&P 500 index fundamental forecast: risk sentiment keeping selling pressure

    Most Asian indices, including the  Nikkei 225 index of Japan, closed in the red. Chinese stocks are down around 0.50%, while ASX2 20 of Australia remains cautious on the day around 7330. 

    Spreading Covid

    Melbourne, the second-largest city in Australia, has imposed its 5th lockdown to fight against the recent wave of pandemics. So far, New South Wales has recorded around 100 new cases on Friday alone.  

    China reported around 40 new cases, while Indonesia had confirmed around 55,000 new cases this week. It was the highest spike in a single day leaving behind India as Asia’s epicenter of coronavirus. 

    On the other hand, Los Angeles has asked the public to wear masks in indoor public places. The order will come into effect this Saturday. 

    Downturn of equities

    Thursday was yet another nasty session for the US equities. Mostly technology shares remained the top losers. The fear of reflation keeps pressure on the US stocks despite the Fed Chair’s recent attempt to neutralize the policy hawk. 

    The backdrop of NXP and Nvidia shares resulted in the loss of 0.7% in the Nasdaq index, which is equivalent to 101.80 points. Meanwhile, S&P 500 followed the same trend and came up with losses of 0.3%.

    Apart from the losses of technology companies on Nasdaq, banks aided DJI with some gains due to the upbeat earnings of banks like Morgan Stanley and US Bancorp. 

    Fed’s updates

    Fed Chair Powell showed no urgency for the policy adjustments, but contrarily, James Bullard, the President of St. Louis, emphasized tapering. On the other hand, mixed manufacturing data from Philadelphia and New York and weaker jobless claims have shown the element of inflation. This could be an argument for the policymakers to reject acting against inflation. 

    Because of the same reason, the US 10-year Treasury bonds dropped while the S&P 500 index is showing sluggishness. 

    US-China conflict

    According to Reuters, US President Joe Biden has said recently that he is optimistic about winning a deal to pass the bipartisan bill for infrastructure. However, the sentiment is deteriorating because of America’s crackdown on several Chinese officials because of their crackdown on Democracy in Hong Kong. The US has also warned international businesses operating there as well. 

    What’s next to watch?

    We have US retail sales figures moving on the day due that can trigger volatility in the market. 

    S&P 500 index technical analysis: hidden bears to lookout

    The S&P 500 index is mainly bullish on the daily chart. The price is well above the 20-day moving average. However, after finding a top at 4400, the index has been in a consolidation phase. In addition, the volume for the last three bearish candles is slightly increasing. It means there are chances of deeper correction from here as well. But it is too early to call for a bearish trend reversal at the moment.   

    S&P 500 Index
    Markets are invaded by algorithms
    Secure your passive income with algo-based trading systems
    Learn more
    S&P 500 index
    Share. Facebook Twitter Pinterest LinkedIn Reddit

    Related Posts

    European Central Bank

    Christine Lagarde Solidifies ECB’s Message on Combating Inflation

    June 28, 2022
    Salesforce-backed front

    Salesforce-Backed Front Valued at $1.7 Billion in Financing Round

    June 28, 2022
    G7 countries to hit Russia

    G7 Countries to Hit Russia With Brand-New Assents

    June 27, 2022
    China's clean power growth

    China’s Clean Power Growth Outlook for 2022 Maintains Getting Bigger

    June 24, 2022
    Add A Comment

    Leave A Reply Cancel Reply

    18  −  10  =  

    Best FX Post
    Best Forex Robots (Expert Advisors) 2021

    Best Forex Robots (Expert Advisors) 2022: Passive Income From Algo Trading Systems

    July 7, 2021

    Top 10 Lending Platforms for Crypto Loans

    June 1, 2022
    forex eurusd trading charts

    Top 10 Best Forex Brokers In All Times

    June 1, 2022
    Recent Posts
    • FlatQube Trade Volume, Trade Pairs & Trust Score
    • Step Guide to Winning Forex Trading
    • Relationship Between Currency Risk and Foreign Bonds
    • Best Social & Copy Trading Platforms
    • Bitcoin Dips Listed Below $20,000 With Fundstrat Considering ‘Last Washout’
    Featured Reviews
    TechBerry

    TechBerry Review: Pros, Cons, Recommendations

    September 18, 2021
    CryptoHero

    CryptoHero Review: Pros, Cons, Recommendations

    June 3, 2022
    Bitsgap

    Bitsgap Review: Pros, Cons, Recommendations

    April 29, 2022
    Categories
    • Analysis
    • Automated Trading
    • Best FX Post
    • Broker Reviews
    • Commodities
    • Copy Trading
    • Crypto
    • Crypto 101
    • Crypto Bots
    • Crypto Forecasts
    • Crypto Reviews
    • Forex
    • Forex 101
    • Forex Forecasts
    • Forex Robots
    • Forex Signals
    • Guides
    • Indices
    • News
    • News
    • News
    • Reviews
    • Reviews
    • Uncategorized
    Twitter BlogLovin
    © 2023, Thefxpost.com.
    • Contact

    Type above and press Enter to search. Press Esc to cancel.