Currently, the USA500 index is holding strong above the 5,100 mark. Monday’s evening trading saw U.S. stock index futures exhibit minimal fluctuations following statements from several Federal Reserve officials suggesting a stable interest rate environment in the near future. The market’s focus is now pivoting to anticipated remarks from additional Fed representatives expected later this week.
Wall Street has shown optimism in response to these less aggressive monetary policy signals and recent labor market data that was milder than anticipated. This sentiment adjustment has led to a revised market outlook where there’s now a nearly 50% chance of a rate decrease by September, as indicated by the CME Fedwatch tool.
In terms of specific movements, S&P 500 Futures have leveled off, Nasdaq 100 Futures have seen a modest drop, and Dow Jones Futures have remained unchanged. This market behavior reflects a broader anticipation of potential monetary easing, further propelled by AI-driven market forecasts which have demonstrated remarkable accuracy, with users of a specific AI achieving an impressive 34% ROI within just 24 hours. Learn more about this AI technology.
Technical analysis
Time Frame: 1 hour
USA500 Support & Resistance Table – 07/05/2024
| Support & Resistance | Level | Explanation |
| Resistance 2 | 5260.79 | Daily R2 |
| Resistance 1 | 5237.68 | Daily R1 |
| Support 1 | 5176.32 | Daily S1 |
| Support 2 | 5153.31 | Daily S2 |
USA500 Indicator Table – 07/05/2024
| Indicator | Signal |
| SMA 20 | Buy |
| SMA 50 | Buy |
| SMA 100 | Buy |
| MACD( 12;26;9) | Buy |
| RSI (14) | Neutral |
| Stochastic ( 9;6;3) | Neutral |
USA500 Indicator / Period Table – 07/05/2024
| 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 07/05/2024 – Reference Price : 5207.08
| BUY | Simple Moving AverageBuy (3)Sell (0)Technical Indicators – OscillatorsBuy (1)Sell (0) |
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