S&P500 Index CFD Weekly - 12 - 16 Oct 2020

S&P 500 Futures keeping Friday’s upside momentum to 3,480.

During the weekend, news broke the US House Speaker Pelosi turns down Friday’s proposal from Trump, concerning the coronavirus (COVID-19) aid package worth near $1.8 trillion. This pours cold waters on expectations of further stimulus from the US government.

Technically, price is heading towards out of the box and targeting a retracement level on 2.618 fibo or move ahead higher into 3.82 fibo cycle resistance level.

PitchforksSupport and ResistanceTrend Analysis

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