The USA500 index is currently hovering just below the 5,200 level, indicating a cautious market sentiment. Recent developments in the U.S. stock market have investors on alert, with key factors influencing market dynamics.

In evening trading on Thursday, U.S. stock index futures experienced a downturn, extending slight losses observed during the session. This downward trend was driven by concerns over hotter-than-expected inflation readings, raising uncertainty ahead of the Federal Reserve’s upcoming meeting.

Particularly notable was the decline in technology stocks, especially those in the chipmaker sector with exposure to artificial intelligence. Heavy profit-taking ensued amidst fears of prolonged periods of higher interest rates, contributing to significant losses in the tech sector.

During the session, the Dow recorded a 0.4% decrease, while both the S&P 500 and the Nasdaq Composite saw declines of approximately 0.3%.

Key Takeaways:

  1. Market Volatility: The USA500 index’s proximity to the 5,200 level reflects cautious sentiment amid recent market volatility.
  2. Inflation Concerns: Hotter-than-expected inflation readings have raised apprehensions among investors, impacting stock index futures and contributing to evening losses.
  3. Tech Sector Performance: Steep losses in technology stocks, particularly chipmakers, underscore concerns over potential implications of higher interest rates on the sector’s profitability.

Technical analysis

USA500 Analysis Technical analysis 15/03/2024

Time Frame: 1 hour

USA500 Support & Resistance Table – 15/03/2024

Support & ResistanceLevelExplanation
Resistance 25250.13Daily R2
Resistance 15233.36Daily R1
Support 15188.64Daily S1
Support 25171.87Daily S2

USA500 Indicator Table – 15/03/2024

IndicatorSignal
SMA 20Sell
SMA 50Buy
SMA 100Buy
MACD( 12;26;9)Buy
RSI (14)Sell
Stochastic ( 9;6;3)Sell

USA500 Indicator / Period Table – 15/03/2024

Indicator / PeriodDay – SellWeek – BuyMonth – Buy
MACD( 12;26;9)BuyBuyBuy
RSI (14)SellBuyBuy
SMA 20SellBuyBuy

USA500 15/03/2024 – Reference Price : 5213.82

SELLSimple Moving AverageBuy (2)Sell (1)Technical Indicators – OscillatorsBuy (1)Sell (2)

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