Bull market

S&P 500 Futures Up On Positive Vaccine News (INDEXSP: .INX)

S & P futures are 18 to 19 points higher as expectations grow on Wall Street that the White House will approve one coronavirus vaccines or more before the November election. New data on coronavirus infections continues to rise in Arizona, California, Florida, and Texas, pushing national numbers to levels not seen since May. The government is preparing for a second wave of outbreaks of the coronavirus this fall, “said Dr. David H. Schulman, director of the Centers for Disease Control and Prevention’s National Center for Immunology.

Investors are waiting for a preliminary Markit purchasing managers “index to be released later this week to update on the state of the global economy. Wall Street expects a COVID-19 vaccine before the election and predicts that the White House will push to increase funding for the US Centers for Disease Control and Prevention’s (CDC) vaccine program.

Coronavirus vaccination efforts focus on one vulnerable group: older adults. Health experts are concerned that a vaccine, the development could protect older people from coronaviruses, triggering efforts to ensure that there is a high-risk group that can be helped by vaccination.

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China has reported 18 new cases of coronavirus since June 21, the national health agency said Monday.

Attorney General William Barr said U.S. companies are helping China in its race for economic and technological supremacy by putting their revenues ahead of national interest. Barr says the companies were part of the “problem” in the fight against China.

According to a White House trade adviser, the Trump administration is preparing for a second wave of coronavirus infections this fall. U.S. Trade Representative Robert Lighthizer said Sunday that the White House is preparing for the “second wave” of the COVID-19.

s&p 500 chart buy
s&p 500 chart buy

Bottom of S&P 500 – BULLISH

AlphaBetaStock.com believes that the market is BULLISH. The primary driver is the Federal Reserve which is buying all type of investments in order to keep the market up. Although a second wave of the coronavirus is likely, it is unlikely to cause a shutdown.

Pivot Classic Fibonacci Camarilla Woodie DM
S3 2355.81 2657.84 2961.25 2585.74 —
S2 2657.84 2773.22 2988.94 2676.19 —
S1 2851.08 2844.50 3016.62 2887.77 2905.48
P 2959.87 2959.87 2959.87 2978.22 2987.07
R1 3153.11 3075.25 3072.00 3189.80 3207.51
R2 3261.90 3146.53 3099.68 3280.25 —
R3 3563.93 3261.90 3127.37 3491.83 —

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1 Day Oscillators
Name Value Action
Relative Strength Index (14) 55.12 Neutral
Stochastic %K (14, 3, 3) 53.54 Neutral
Commodity Channel Index (20) 7.78 Neutral
Average Directional Index (14) 15.97 Neutral
Awesome Oscillator 89.89 Buy
Momentum (10) −96.19 Buy
MACD Level (12, 26) 48.05 Sell
Stochastic RSI Fast (3, 3, 14, 14) 29.87 Neutral
Williams Percent Range (14) −50.62 Neutral
Bull Bear Power 46.84 Neutral
Ultimate Oscillator (7, 14, 28) 46.47 Neutral

1 Day Moving Averages
Name Value Action
Exponential Moving Average (5) 3104.13 Sell
Simple Moving Average (5) 3103.58 Sell
Exponential Moving Average (10) 3102.16 Sell
Simple Moving Average (10) 3119.10 Sell
Exponential Moving Average (20) 3072.76 Buy
Simple Moving Average (20) 3090.71 Buy
Exponential Moving Average (30) 3036.17 Buy
Simple Moving Average (30) 3029.25 Buy
Exponential Moving Average (50) 2988.34 Buy
Simple Moving Average (50) 2951.83 Buy
Exponential Moving Average (100) 2968.26 Buy
Simple Moving Average (100) 2935.55 Buy
Exponential Moving Average (200) 2968.40 Buy
Simple Moving Average (200) 3018.55 Buy
Ichimoku Cloud Base Line (9, 26, 52, 26) 2999.89 Neutral
Volume Weighted Moving Average (20) 3094.22 Buy
Hull Moving Average (9) 3115.35 Sell