Market predictions for 10/27/2023 ( S&P500 )

 Today's prediction was correct, and market is down by 1.18% INX 4,137.23 -49.54 -1.18% : S&P 500 - MSN Money

Let's focus on tomorrow's prediction.

+ve(up) reasoning:

• Market is oversold.
• S&P500 futures are up: ES00 | E-Mini S&P 500 Future Continuous Contract Overview | MarketWatch.Up by 0.48%
• DOW futures are up by 0.24% - YM00 | E-Mini Dow Continuous Contract Overview | MarketWatch.
• There may be a Santa Claus rally.

-ve(down) reasoning:

• Oil price is up - Crude Oil Prices Today | OilPrice.com
• Geo-political situation
• U.S. GDP grew at a 4.9% annual pace in the third quarter, better than expected (cnbc.com) (FED might go for one more hike) - Good news is bad news sometimes.
• Weekend selling.

Unknown: 

1. PCE index, Personal income nominal reports tomorrow.
2. Chevron,Exxon etc. company's earnings report tomorrow.

I am tempted to go with futures direction today. As tomorrow is Friday and oil price being up, I am predicting that market will be down tomorrow (10/27/2023).

THIS IS NOT A FINANCIAL ADVICE. JUST MY PREDICTION FOR MY ANALYSIS.