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

USA500 Analysis Technical analysis 08/04/2024

Time Frame: 1 hour

USA500 Support & Resistance Table – 08/04/2024

Support & ResistanceLevelExplanation
Resistance 25297.20Daily R2
Resistance 15276.54Daily R1
Support 15221.46Daily S1
Support 25200.81Daily S2

USA500 Indicator Table – 08/04/2024

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

USA500 Indicator / Period Table – 08/04/2024

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

USA500 08/04/2024 – Reference Price : 5247.58

SELLSimple Moving AverageBuy (0)Sell (3)Technical Indicators – OscillatorsBuy (0)Sell (2)

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