In the latest evening trading session, the USA500 index sustained its levels above the 5000 mark, bolstered by a significant rally in technology stocks. This uptrend comes as investors gear up for a series of crucial earnings announcements expected to shape market sentiment further.
The spotlight was particularly on Tesla, which surged in after-hours trading. The electric vehicle giant recently unveiled its strategy to launch new, more affordable models by 2025. This news provided a substantial boost to investor confidence, eclipsing concerns brought about by less-than-stellar earnings results from the first quarter.
As a result of these developments, the S&P 500 Futures saw a modest increase of 0.15%, while the Nasdaq 100 Futures rose by 0.4%. The Dow Jones Futures, however, saw minimal movement, indicating a wait-and-see approach among some segments of the market.
During these fluctuating market conditions, leveraging Artificial Intelligence (AI) in trading has proven exceptionally advantageous. Investors employing this technology have effectively navigated the market’s complexities, with some achieving a remarkable 34% Return on Investment in just 24 hours. This sophisticated AI capability enables traders to predict market movements with enhanced accuracy, optimizing their investment strategies even in volatile periods.
Technical analysis
Time Frame: 1 hour
USA500 Support & Resistance Table – 24/04/2024
| Support & Resistance | Level | Explanation |
| Resistance 2 | 5179.68 | Daily R2 |
| Resistance 1 | 5157.10 | Daily R1 |
| Support 1 | 5096.90 | Daily S1 |
| Support 2 | 5074.32 | Daily S2 |
USA500 Indicator Table – 24/04/2024
| Indicator | Signal |
| SMA 20 | Buy |
| SMA 50 | Buy |
| SMA 100 | Sell |
| MACD( 12;26;9) | Sell |
| RSI (14) | Buy |
| Stochastic ( 9;6;3) | Buy |
USA500 Indicator / Period Table – 24/04/2024
| Indicator / Period | Day – Buy | Week – Buy | Month – Buy |
| MACD( 12;26;9) | Sell | Buy | Buy |
| RSI (14) | Buy | Buy | Buy |
| SMA 20 | Buy | Buy | Buy |
USA500 24/04/2024 – Reference Price : 5124.58
| BUY | Simple Moving AverageBuy (2)Sell (1)Technical Indicators – OscillatorsBuy (2)Sell (1) |