By far and away, the biggest story of the tumultuous trading week ending on Friday, 2 October 2020 was the news that President Trump had tested positive for a coronavirus infection. The news sent U.S. stock prices down on Friday by as much as 2% during the course of the day, but the market recovered somewhat to only close down by about 1%.
That rare occurrence of a non-major tax change-related political event moving stock prices however did little to change stock prices for the week. The S&P 500 (Index: SPX) ended the week about 3 points lower than the level at which it closed the previous trading week.
That change puts the level of the S&P 500 well within the redzone forecast range on our alternative futures charts, which assumes that investors are focusing on 2020-Q4 in setting current day stock prices.
We'll present an alternative futures chart projecting the dividend futures-based model;s potential trajectories of the S&P 500 for the fourth quarter of 2020 in our next edition.
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