{"id":105808,"date":"2020-10-13T17:28:15","date_gmt":"2020-10-13T16:28:15","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=105808"},"modified":"2020-10-14T06:26:17","modified_gmt":"2020-10-14T05:26:17","slug":"104533-sp-500-eyes-resistance-ahead-of-3q-earnings-season","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/104533-sp-500-eyes-resistance-ahead-of-3q-earnings-season\/","title":{"rendered":"S&#038;P 500 Eyes Resistance Ahead of 3Q Earnings Season"},"content":{"rendered":"<ul>\n<li><strong>The safe haven- US Dollar and Japanese Yen pared losses in the Asian session.<\/strong><\/li>\n<li><strong>\u00a0Johnson &amp; Johnson pausing itsCovid-19 vaccine trials may increase risk aversion<\/strong><\/li>\n<li><strong>S&amp;P 500 index could slide lower as RSI moves away from overbought territory.<\/strong><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Stock markets advanced in the Asian session Australia\u2019s ASX 200 index rose1.04% and Japan\u2019s Nikkei 225 index gained 0.18%.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Disappointing coronavirus vaccine news dragged on market sentiment. The safe haven-US Dollar and Japanese Yen climbed higher versus major peers.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Gold slipped under $1920\/oz. Silver dipped by 2%, even though yields on US 10-year Treasuries moved 1 basis point lower.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u00a0Eurozone ZEW Economic Sentiment Index for October and US inflation data for September will be in focus<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Strong US corporate Q3 earnings could cap losses on S&amp;P 500 index, whilst fading optimism over fiscal stimulus and a pause in one of the leading covid vaccination trials eats away at investors\u2019 sentiment.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Johnson &amp; Johnson announced that it had halted coronavirus vaccine trials as a participant fell ill with an unexplained illness.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Pauses in a vaccine trial are standard practice. Furthermore \u201cas many trials are placebo-controlled, it is not always immediately apparent whether a participant received a study treatment or placebo\u201d.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Astrazeneca temporarily halted its vaccine trials in September \u2013 a delayed restart could drag on riskier assets in the near-term.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Q3 earnings from leading financial firms JPMorgan, Citigroup and BlackRock could balance the disappointment from the vaccine trials. Also the battle between incumbent President Donald Trump and Democratic nominee Joe Biden ahead of the US presidential election on November 3 will also be in focus.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Technically, S&amp;P 500 index could be at risk of heading lower as it failed to take resistance at 3550.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">RSI moved from overbought territory and volume fell as the S&amp;P 500\u2019s rebounded from the September low (3198). Currently the path of least resistance appears skewed to the downside.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">21-day moving average suggests a building of bullish momentum, as it looks to cross above its \u2018slower\u2019 50-period counterpart.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">A daily close back below 3500 could open the door to a short term correction to key support at the February high (3397.50).<\/span><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The safe haven- US Dollar and Japanese Yen pared losses in the Asian session. \u00a0Johnson &amp; Johnson pausing itsCovid-19 vaccine trials may increase risk aversion S&amp;P 500 index could slide lower as RSI moves away from overbought territory. Stock markets advanced in the Asian session Australia\u2019s ASX 200 index rose1.04% and Japan\u2019s Nikkei 225 index [&hellip;]<\/p>\n","protected":false},"author":163946597,"featured_media":5563,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1381],"tags":[3135,1398],"class_list":{"0":"post-105808","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-usd","8":"tag-dxy","9":"tag-usd"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>S&amp;P 500 Eyes Resistance Ahead of 3Q Earnings Season - Currency Live<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/currencylive.com\/news\/104533-sp-500-eyes-resistance-ahead-of-3q-earnings-season\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Fiona Cincotta\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/104533-sp-500-eyes-resistance-ahead-of-3q-earnings-season\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/104533-sp-500-eyes-resistance-ahead-of-3q-earnings-season\\\/\"},\"author\":{\"name\":\"Fiona Cincotta\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/8ef0fafb6c93f1204150bb907b42cfec\"},\"headline\":\"S&#038;P 500 Eyes Resistance Ahead of 3Q Earnings Season\",\"datePublished\":\"2020-10-13T16:28:15+00:00\",\"dateModified\":\"2020-10-14T05:26:17+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/104533-sp-500-eyes-resistance-ahead-of-3q-earnings-season\\\/\"},\"wordCount\":358,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/104533-sp-500-eyes-resistance-ahead-of-3q-earnings-season\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100621-gbp-usd-pound-traders-digest.jpg\",\"keywords\":[\"DXY\",\"usd\"],\"articleSection\":[\"USD\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2020\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/104533-sp-500-eyes-resistance-ahead-of-3q-earnings-season\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/104533-sp-500-eyes-resistance-ahead-of-3q-earnings-season\\\/\",\"name\":\"S&P 500 Eyes Resistance Ahead of 3Q Earnings Season - 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