Futures Slide as AMZN & Intel Disappoint; Key Jobs Data Awaited

Futures Slide as Amazon and Intel Forecasts Disappoint; Jobs Data Awaited

U.S. index futures fell sharply on Friday following downbeat forecasts from Amazon and Intel. Investors are now awaiting a crucial jobs report for further insights into the labor market amid ongoing concerns over an economic slowdown.

S&P 500 Analysis: Downside !!!

The S&P 500 dropped sharply as noted yesterday and continues to trend bearish.

• Bullish Scenario:
  For a shift to a bullish trend, the price needs to stabilize above 5,409, potentially reaching 5,438 and 5,460.
  
  
• Bearish Scenario:
  If trading continues below 5,409, the price is expected to drop to 5,372 and 5,345.
  
  
• Key Levels:
  - Pivot Line: 5,409
  - Resistance Levels: 5,438, 5,460, 5,491
  - Support Levels: 5,372, 5,346, 5,320
  
  
• Today's Expected Trading Range:
  The price is anticipated to fluctuate between the resistance at 5,438 and the support at 5,320.
  
  Today's Non-Farm Payroll (NFP) and Unemployment Rate reports are expected to significantly impact the market.
  Previous idea: