The S&P 500 Futures ended higher on Friday, despite a surge in COVID-19 cases. Investors weighed the prospect of more fiscal stimulus against fears of further business disruptions due to the strained relationship between the U.S. and China.
S&P 500 Futures could show highly volatile moves during the week of July 19th, 2020. The second-quarter earnings season shifts into high gear with reports expected from corporate heavyweights including Microsoft (NASDAQ:MSFT), Tesla (NASDAQ:TSLA), Intel (NASDAQ: INTC) and Verizon Communications (NYSE:VZ).
I find that the steady Gold futures show the growing risk in S&P 500 Futures. The result could be steep moves in either direction. The S&P 500 Futures could take a decisive move with a breakout out of the 'Decisive Zone' from 3131 to 3232.
S&P 500 Futures may show weakness below 3129.
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