DanGramza

Buyers failed to close S&P above 4720

Long
CME_MINI:ES1!   S&P 500 E-mini Futures
In yesterday's video I mentioned the objective would be to have a close on Friday above 4720. The market did trade to 47 23 1/2 however it closed at 4694 1/2. As news came out about and increase in Covid cases in Europe, US and a lockdown in Austria, the S&P softened. Increasing Covid cases implies the possibility of a decrease in supply lines and manufacturing which could have an impact on revenue and profitability of companies which probably continued to the lower closes for the S&P 500.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.