The USA500 index is currently hovering around the 5,100 mark. During the latest trading session on Monday evening, the movement in U.S. stock index futures was subdued, reflecting a dampening of the initial enthusiasm within the technology sector. This cooling off comes in the wake of tempered expectations for imminent rate cuts by the Federal Reserve.
Recent robust inflation data has caused traders to adjust their expectations regarding the Federal Reserve’s monetary policy, shifting focus to the upcoming Federal Reserve meeting where further directions will be anticipated. This has led to a stabilization of S&P 500 Futures, while the Nasdaq 100 Futures have shown no significant change. Meanwhile, Dow Jones Futures have seen a marginal decline.
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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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