The USA500 index remains steady, hovering around the 5,100 mark. As we moved into the evening session on Monday, the U.S. stock index futures displayed little volatility, particularly as the initial fervor in the technology sector began to wane amidst recalibrated expectations for Federal Reserve policy actions.
The recent surge in inflation rates has tempered market enthusiasm, leading investors to adjust their forecasts concerning imminent rate cuts. This shift in sentiment sets the stage for the Federal Reserve’s upcoming meeting, where market participants will keenly await further directives on monetary policy, which could significantly influence market trajectories.
During this period of recalibration, the S&P 500 Futures showed resilience by maintaining stability, whereas the Nasdaq 100 Futures held steady. However, the Dow Jones Futures saw a marginal retreat, reflecting a cautious approach among investors as they strategize for potential shifts in economic policy.
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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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