Weekly Forecast – S&P500, Oct 2-9, 2020

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Weekly Forecast – S&P500, Oct 2-9, 2020

President Donald Trump and his wife Melania Trump tested positive for coronavirus

This October is keeping a high volatility of political uncertainty markets as election days coming

Jobless claims edge lower to 837,000 as slow recovery continues and a gradually growing virus caseload.

It might lead to the U.S. stocks fell on last Friday. Also, Friday is a special day, turning day and high volatility day according to gann’s theory that usually results with sharp price reversals in world stock indices

Also, as mentioned before in previous reports, Sep is the aggression and war.

It is possible the low of the stock market was achieved on Thursday, Sep. 24 that is marked the end of the longest and steepest decline of the U.S. stock market since the the trough of Mar. 23.

Sep 28 – Oct 19 was forecasted to be a return to those themes. Hence, this week the S&P500 is expected to go LOWER

This week may remain volatile, please take care of your risk.

Oil got hit hard, re-testing its primary cycle low of three weeks ago. So it might continue to go higher.

Gold and Silver rebounded nicely off their multi-week lows of the prior week. But now we enter the middle of this Sep 28 – Oct 19 stellar firestorm, so we might see their prices go lower

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