As of the latest trading session, the USA500 index has been observed trading beneath the 5,200 threshold. This comes after a period of adjustment in the market, with stock futures experiencing a modest increase in overnight trading on Sunday. This slight recovery follows a sequence of downturns over the past week, hinting at a momentary breather in the 2024 market rally.
The futures for the Dow Jones Industrial Average noted an uptick of 55 points, accompanied by a marginal 0.1% rise in both the S&P 500 and Nasdaq 100 futures. This upward movement in futures trading indicates a cautious optimism among investors, eyeing potential rebounds or stabilization in the market.
Reflecting on the previous week’s performance, the Dow Jones Industrial Average recorded a 2.3% fall, its most significant weekly decline since March 2023. Similarly, the S&P 500 witnessed nearly a 1% drop, its sharpest weekly loss since the commencement of the year. The Nasdaq Composite, predominantly influenced by technology stocks, also saw a decrease of 0.8%, continuing its trend of negative outcomes in four of the past five weeks.
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This analysis not only provides a snapshot of the USA500’s current market stance but also illuminates the evolving landscape of investment strategies where technology, particularly AI, plays a pivotal role in enhancing market predictions and optimizing investment returns.
Technical analysis
Time Frame: 1 hour
USA500 Support & Resistance Table – 08/04/2024
| Support & Resistance | Level | Explanation |
| Resistance 2 | 5297.20 | Daily R2 |
| Resistance 1 | 5276.54 | Daily R1 |
| Support 1 | 5221.46 | Daily S1 |
| Support 2 | 5200.81 | Daily S2 |
USA500 Indicator Table – 08/04/2024
| Indicator | Signal |
| SMA 20 | Sell |
| SMA 50 | Sell |
| SMA 100 | Sell |
| MACD( 12;26;9) | Sell |
| RSI (14) | Neutral |
| Stochastic ( 9;6;3) | Sell |
USA500 Indicator / Period Table – 08/04/2024
| Indicator / Period | Day – Sell | Week – Buy | Month – Buy |
| MACD( 12;26;9) | Sell | Buy | Buy |
| RSI (14) | Neutral | Buy | Buy |
| SMA 20 | Sell | Buy | Buy |
USA500 08/04/2024 – Reference Price : 5247.58
| SELL | Simple Moving AverageBuy (0)Sell (3)Technical Indicators – OscillatorsBuy (0)Sell (2) |
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