Stock Market Update: S&P Shows Low Movement, But Advancements Expected
The $S&P500 index exhibited low movement today, initially dipping -0.20% but quickly regaining ground to close with a slight negative of -0.1%.
The market's resilience in maintaining and even advancing current price levels is surprising.
In the short term (1-2 months), there's a higher probability of further advancement towards the 4553-4570 range, provided support is held above the daily resistance level of 4523.
NVDA
Nvidia's strong earnings report, released after market close, reinforces the likelihood of an upward move. Nvidia, along with Tesla, collectively accounts for nearly 70% of the S&P's daily trading volume.
The recent slump in the Wholesale industry may discourage investors with a 3+ month investment horizon. However, for shorter-term investors (1-2 months), the upcoming Black Friday and Holiday season could lead to unexpectedly strong performance from other retail companies.
The $S&P500 index exhibited low movement today, initially dipping -0.20% but quickly regaining ground to close with a slight negative of -0.1%.
The market's resilience in maintaining and even advancing current price levels is surprising.
In the short term (1-2 months), there's a higher probability of further advancement towards the 4553-4570 range, provided support is held above the daily resistance level of 4523.
NVDA
Nvidia's strong earnings report, released after market close, reinforces the likelihood of an upward move. Nvidia, along with Tesla, collectively accounts for nearly 70% of the S&P's daily trading volume. The recent slump in the Wholesale industry may discourage investors with a 3+ month investment horizon. However, for shorter-term investors (1-2 months), the upcoming Black Friday and Holiday season could lead to unexpectedly strong performance from other retail companies.
Eliot Kim