The S&P 500, referred to here as the USA500, currently hovers around the 5,100 mark. As the latest trading session closed on Monday evening, U.S. stock index futures exhibited a lack of substantial movement, signaling a cooling off within the technology sector. This sector’s recent momentum has tempered due to diminishing expectations for imminent Federal Reserve rate cuts.
Elevated inflation figures have prompted market participants to reassess their forecasts for potential rate reductions in the near term. This shift in sentiment sets the stage for the Federal Reserve’s forthcoming meeting, where market observers anticipate crucial policy directions that could shape future market dynamics.
The stabilization of the S&P 500 Futures contrasts with the static performance of the Nasdaq 100 Futures and a marginal dip in the Dow Jones Futures, highlighting a cautious stance among investors as they navigate through the complexities of an uncertain financial environment.
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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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