SPx (Stocks fall on Meta's weak forecast...)

Stocks Plunge Before the Open as Meta’s Revenue Forecast Disappoints, U.S. GDP Data and Earnings in Focus

Meta Platforms META (META) slumped over -12% in pre-market trading after the Facebook parent provided weaker-than-expected Q2 revenue guidance and increased its full-year capital expenditures forecast.


SPX500USD NEW FORECAST
The price may approach the support level at 5044.

Amid earnings reports and GDP data, the SPx is expected to fluctuate between 4997 and 5095.

If a 4-hour candlestick closes above 5055, it is likely to rise to 5080. Conversely, a close below 5044 suggests a potential drop to 5019 and then possibly further to 4998.

Pivot line: 5044
Resistance Prices: 5080, 5080, 5140
Support Prices: 5019, 4998, 4953

The movement range will be between support 4997 and Resistance 5080