S&P 500 Futures: Lower Opening May Extend Weakness

Although, the ‘phase 3’ package of support measures for the U.S. economy moves to the House of Representatives, after the Senate finally approved the $2 trillion bill by a reassuring 96-0 vote; but S&P 500 futures have show an exhaustion since Wednesday. I find that the Jobless claims to show extent of economic damage from pandemic; which may extend the bearish pressure in S&P 500 Index on Thursday.

I find that the heavy selling pressure in SPX above the level of 2562 may result in the gap-down opening of S&P 500 Index; and a sustainable move below 2424 may push the SPX below the level of 2347 up to this weekly closing.  

S&P 500

S&P 500 Futures

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