S&P 500 fell 2.80% to 3,639.66 on Monday 10 October.
On Monday market session participants will be looking ahead to retail sales, fresh jobless claims, and import price data
On Monday US stocks are seen moving in the down direction, extending losses made on Friday, as investors have an eye on the federal interest rate for further central bank aggressiveness and whether these policies would trigger an economic slowdown
US stocks futures rise during Friday evening deals, US major indices bouncing back on that day after an inflation report published by Federal Reserve
The Dow Jones Industrial Average was up by about 0.40% to 29,413.05. S&P 500 was roughly down by 2.50% at the end of day price was 3,639.66. Nasdaq 11 futures rose 0.4% at 11,816.20
The three major weaker note seems at the end of the month which began as a strong month i.e., Dow Jones AUGUST down 4.80%, and the S&P 500, and Nasdaq posted losses of nearly 2.80% and 4.6%, respectively, the 52 weeks range is 3,636.87-4,818.62
The debate had been going on investors for weeks about whether the economy is in a recession or in not recession. Many investors thought an economic downturn would give the federal reserve reason to rise their hiking plan.
LONG-TERM TECHNICAL ANALYSIS ON S&P 500
This daily chart indicates that S&P 500 was trading in a downwardchannel, S&P500 was traded in a down channel before there is an Upside breakout. Currently, it is trading below all SMA, and RSI is in the selling zone which indicates bearishness. MACD is currently below zero which indicates bearishness.
