Wednesday, October 18, 2023

S&P500 prediction for 10/19/2023

 My last day prediction was correct. The S&P500 is down today.

Let's focus on tomorrow,

+ve(UP) reasoning:

  1. S&P futures (Mini) is up by 0.052% and DOW futures is up by 0.018%
  2. WTI crude oil price down by 0.25%
  3. S&P500 is down by 1.34%. is it over sold?
  4. Will there be Santa Claus rally?
  5. Netflix is up by 12.51% after hours.
-ve(Down) reasoning:
  1. Initial jobless claims number will come tomorrow. If it's not as expected, then might be a sell off.
  2. Fed Chairman speech. Will he hawkish?
  3. Geo-political situation.
  4. Tesla is down after hours after its earnings report release.
Unknown: Some companies earning report tomorrow AT&T,Union Pacific Corp etc 

I am planning to stick with technical, since oil price down and futures shows an up sign, Let's hope tomorrow (10/19/2023) is going to be positive. ( this is a tough call, let's see)


THIS IS NOT A FINANCIAL ADVICE. JUST MY ANALYSIS AND GUESSES.

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