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S&amp;P 500 Sets Sights on 4200 as Volatility Eases: What to Expect Next | Investing.com

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By Michael KramerStock Marketswww.investing.com/analysis/sp-500-sets-sights-on-4200-amid-easing-volatility-what-to-expect-next-200643172S&amp;P 500 Sets Sights on 4200 as Volatility Eases: What to Expect NextBy Michael Kramer &nbsp;&nbsp;|&nbsp;&nbsp;Oct 31, 2023 03:27AM ET4&nbsp;US500+0.65%Add to WatchlistAdd PositionPosition added successfully to:&nbsp;+ Add another positionCloseDX+0.59%Add to WatchlistAdd PositionPosition added successfully to:&nbsp;+ Add another positionCloseTSLA+1.76%Add to WatchlistAdd PositionPosition added successfully to:&nbsp;+ Add another positionCloseVIX-8.15%Add to WatchlistAdd PositionPosition added successfully to:&nbsp;+ Add another positionCloseThe finished higher, as rates rose modestly, and the and the fell. Today will be when the excitement starts, with the Bank of Japan policy keeping rates stable as expected, followed by a slew of economic data for the rest of the week and a and on Wednesday.This seems to be a recurring theme, with Treasury rates moving lower and the VIX moving higher on Friday into the weekend, and that unwinding some on Monday. Given everything happening in the world, it certainly makes sense to see this, making it hard to assess what is happening in the market today.The VIX dropped from 21.3 to 19.7 today. It seems hard to imagine that, given everything going on this week in terms of news flow, implied volatility is going to stay down. The term structure of the shows implied volatility is elevated for the rest of this week, and I would say it probably goes higher as we move into Wednesday and then again on Friday.Today’s rally in stocks did help to move the S&amp;P 500 out of an oversold condition from the standpoint of the Bollinger band and the RSI. Meanwhile, 4,200 is now resistance, which may become challenging for the index to advance beyond. But that will largely be dictated by the data to come this week.It is possible to count the rally as a retracement and a completed retracement, as it would mark a 50% retracement of the decline from October 24 through October 27; wave C equals 78.6% of wave A. If this is right, then today, the index should drop right from the opening and undercut Friday’s low at some point during the next few days.If that is the wrong count, the next spot to look for would be 4,200, the 61.8% retracement of the 5-wave impulse down.Tesla (NASDAQ:) fell almost 5% today and moved below $200. If the topping pattern was a diamond, then we should return to the pattern’s origin, which is at $165. So, the pain may not be over just yet. The move from the October 2022 lows appears to be a 3-wave retracement pattern—the move down since the July peak appears to be a 5-wave impulse. So, a drop to $165 seems possible in my view.Original PostS&amp;P 500 Sets Sights on 4200 as Volatility Eases: What to Expect Next4Comments (4)4Russell 2000 Testing Critical Price Support After Rare 100-Week...It’s been a dreadful past couple of years for the&nbsp;Russell 2000 (NYSE:IWM)&nbsp;and small-cap stocks.Only in 2009 have small caps performed worse over a 100-week period – point (1) on...Airbnb Q3 Earnings: Will Travel Industry Recovery Finally Catapult...Airbnb enjoyed a post-IPO surge but faced a downturn due to COVID-19Upcoming Q3 results are crucial for the company after a recent stock declineAnalysts have optimistic forecasts...PayPal Earnings Preview: Can New CEO's Plans Breathe Life Into the...PayPal's stock has been in a two-year downtrend due to fierce competition and falling profitsThe new CEO, Alex Chriss, is expected to focus on SMBs and in-store payments to try...Add a CommentComment Guidelines&nbsp;I have read Investing.com's comments guidelines and agree to the terms described.I AgreeWrite your thoughts hereAre you sure you want to delete this chart?Delete Cancel&nbsp;PostReplace the attached chart with a new chart ?Replace CancelComment GuidelinesShareFollow this postUnfollow this postSaveBlock UserReplyShareFollow this postUnfollow this postSaveBlock UserReplyShareFollow this postUnfollow this postSaveBlock UserReplyShareFollow this postUnfollow this postSaveBlock UserReplyShareFollow this postUnfollow this postSaveBlock UserReplyShareFollow this postUnfollow this postSaveReplyAre you sure you want to delete this chart?Delete Cancel&nbsp;PostReplace the attached chart with a new chart ?Replace CancelComment GuidelinesAdd Chart to CommentCancelAttachConfirm BlockAre you sure you want to block %USER_NAME%?By doing so, you and %USER_NAME% will not be able to seeany of each other's Investing.com's posts.%USER_NAME% was successfully added to your Block ListSince you’ve just unblocked this person, you must wait 48 hours before renewing the block.Confirm Block CancelOkReport this commentI feel that this comment is:SpamOffensiveSubmitComment flaggedThank You!Your report has been sent to our moderators for reviewCloseTabs SelectionIndicesCommoditiesBondsStocksCryptoForexETFsApply&nbsp;US 3032,987.0-65.9-0.20%&nbsp;&nbsp;US 5004,183.6-10.2-0.24%&nbsp;&nbsp;Dow Jones33,052.87+123.91+0.38%&nbsp;&nbsp;S&amp;P 5004,193.80+26.98+0.65%&nbsp;&nbsp;Nasdaq12,851.24+61.76+0.48%&nbsp;&nbsp;S&amp;P 500 VIX18.14-1.61-8.15%&nbsp;&nbsp;Dollar Index106.560+0.626+0.59%&nbsp;&nbsp;Crude Oil WTI81.53+0.17+0.21%&nbsp;&nbsp;Brent Oil85.57+0.26+0.30%&nbsp;&nbsp;Natural Gas3.604-0.002-0.06%&nbsp;&nbsp;Gold1,992.85+0.10+0.01%&nbsp;&nbsp;Silver22.950-0.012-0.05%&nbsp;&nbsp;Copper3.6505-0.0020-0.05%&nbsp;&nbsp;US Soybeans1,311.75+5.75+0.44%&nbsp;&nbsp;U.S. 10Y4.928+0.051+1.04%&nbsp;&nbsp;U.S. 30Y5.090+0.066+1.31%&nbsp;&nbsp;U.S. 5Y4.846+0.029+0.59%&nbsp;&nbsp;U.S. 3M5.491+0.003+0.05%&nbsp;&nbsp;US 10Y T-Note105.91-0.27-0.25%&nbsp;&nbsp;Euro Bund128.50-0.23-0.18%&nbsp;&nbsp;10-2 Yield Spread-16.41+0.73+-4.26%&nbsp;&nbsp;Apple170.77+0.48+0.28%&nbsp;&nbsp;Alphabet A124.08-0.38-0.31%&nbsp;&nbsp;Tesla200.84+3.48+1.76%&nbsp;&nbsp;Amazon.com133.09+0.38+0.29%&nbsp;&nbsp;Netflix411.69+1.61+0.39%&nbsp;&nbsp;Meta Platforms301.27-1.39-0.46%&nbsp;&nbsp;Bank of America26.34+0.65+2.53%&nbsp;Most Popular ArticlesAMD Q3 results top estimates, but revenue guidance falls shortOil down 2nd day in row, poised for huge October lossWall St closes higher on eve of Fed decision; investors assess...Stock Market Today: Dow ends higher, but can't escape 3rd monthly...Fed meeting in focus, Chinese factory data disappoints -- what's...More News&nbsp;1 Stock to Buy, 1 Stock to Sell This Week: McDonald’s, AMD5 Nightmarish Stocks You'd Rather Avoid This HalloweenS&amp;P 500 Sets Sights on 4200 as Volatility Eases: What to Expect NextS&amp;P 500 Nears 200 DMA, Nasdaq in Bull Trap, Russell 2000 Faces Key...Bitcoin Eyes ‘Golden Cross’ Ahead of Fed, Key Economic Data: What Lies...More Analysis&nbsp;Central Banks Rates&nbsp;Central BanksInterest RatesNext Meeting&nbsp;&nbsp;FED5.50%Nov 01, 2023&nbsp;&nbsp;ECB4.50%Dec 14, 2023&nbsp;&nbsp;BOE5.25%Nov 02, 2023&nbsp;&nbsp;SNB1.75%Dec 14, 2023&nbsp;&nbsp;RBA4.10%Nov 07, 2023&nbsp;&nbsp;BOC5.00%Dec 06, 2023&nbsp;&nbsp;RBNZ5.50%Nov 29, 2023&nbsp;&nbsp;BOJ-0.10%Oct 31, 2023&nbsp;&nbsp;CBR15.00%Dec 15, 2023&nbsp;&nbsp;RBI6.50%Dec 08, 2023&nbsp;&nbsp;PBOC3.45%&nbsp;&nbsp;BCB12.75%Nov 01, 2023&nbsp;Sign up with Email

By Michael KramerStock Marketswww.investing.com/analysis/sp-500-sets-sights-on-4200-amid-easing-volatility-what-to-expect-next-200643172S&amp;P 500 Sets Sights on 4200 as Volatility Eases: What to Expect NextBy Michael Kramer &nbsp;&nbsp;|&nbsp;&nbsp;Oct 31, 2023 03:27AM ET4&nbsp;US500+0.65%Add to WatchlistAdd PositionPosition added successfully to:&nbsp;+ Add another positionCloseDX+0.59%Add to WatchlistAdd PositionPosition added successfully to:&nbsp;+ Add another positionCloseTSLA+1.76%Add to WatchlistAdd PositionPosition added successfully to:&nbsp;+ Add another...

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