SP500 Weekly Forecast Analysis 3-7 Oct 2022

SP500 Weekly Forecast Analysis 3-7 Oct 2022

We can see that currently the volatility is around 4.38% for this week, decrising from the 4.58% from the last week.
Currently there is around 24.3% that the asset is going to close either above or below the channel:
TOP 3757
BOT 3430

The current volatility percentile is around 89th, placing us in a very risking and volatility week.
And in this situations in general the market moves:
AVG weekly bull candle = 2.5%
AVG weekly bear candle = 2.76%

With this mind, from the opening price it would situate us around
TOP 3684
BOT 3492

At the same time, due to the nature of the opening price, making this weekly candle a bullish candle, there is currently a
38% that we will break the ath of previous weekly candle of 3750 and there is a 66% that we will touch the low of previous candle
which is 3570.


From the technical analysis point of view:
The majority of moving averages ranging from 10 to 200, are currently around 66.6%% agreement that the market is in a short trend ( the current price is below those moving averages)
At the same time if we are looking at the candle type since the beginning of the year, we can see that 59% of them were bearish, solidificating the bearish trend.


News that can affect the price of this asset this week:
- Monday 3 October : ISM PMI
- Tuesday 4 October : JOLT Job
- Wednesday 5 October : ADP and ISM release
- Thursday 6 October : Initial Jobless Claims and ECB Report
- Friday 7 October: Nonfarm Payrolls