Currently, the USA500 index hovers around the 5,100 mark, reflecting a period of consolidation in Monday’s evening trading session. The U.S. stock index futures indicated a pause in the technology sector’s recent surge, amidst tempered expectations for an easing of Federal Reserve monetary policy.
Recent robust inflation data has tempered investor enthusiasm regarding immediate Federal Reserve rate cuts, shifting the market focus to the upcoming Federal Reserve meeting for clearer indications of future monetary policy directions.
In this environment, S&P 500 Futures have shown resilience, maintaining their levels. Meanwhile, Nasdaq 100 Futures have not shown significant changes, signaling a wait-and-see approach among technology investors. Conversely, Dow Jones Futures have seen a marginal pullback, reflecting cautious sentiment among broader market investors.
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Technical analysis
Time Frame: 1 hour
USA500 Support & Resistance Table – 30/04/2024
| Support & Resistance | Level | Explanation |
| Resistance 2 | 5182.43 | Daily R2 |
| Resistance 1 | 5162.96 | Daily R1 |
| Support 1 | 5111.04 | Daily S1 |
| Support 2 | 5091.57 | Daily S2 |
USA500 Indicator Table – 30/04/2024
| Indicator | Signal |
| SMA 20 | Buy |
| SMA 50 | Buy |
| SMA 100 | Buy |
| MACD( 12;26;9) | Buy |
| RSI (14) | Neutral |
| Stochastic ( 9;6;3) | Sell |
USA500 Indicator / Period Table – 30/04/2024
| Indicator / Period | Day – Buy | Week – Buy | Month – Buy |
| MACD( 12;26;9) | Buy | Buy | Buy |
| RSI (14) | Neutral | Buy | Buy |
| SMA 20 | Buy | Buy | Buy |
USA500 30/04/2024 – Reference Price : 5143.08
| BUY | Simple Moving AverageBuy (3)Sell (0)Technical Indicators – OscillatorsBuy (1)Sell (1) |
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