The USA500 index is currently positioned just under the 5,200 level as market activities reflect a quiet evening in U.S. stock index futures. This comes after a period of optimistic trading driven by anticipation of potential rate cuts. However, recent remarks from Federal Reserve officials suggest a more conservative approach, indicating rates might hold steady, cooling investor enthusiasm.
The market’s momentum has subdued, with investors taking a watchful approach as they await more definitive economic indicators and upcoming corporate earnings reports. This cautious market sentiment is evident as the S&P 500 Futures hold steady below 5,200, with minimal fluctuations in the Nasdaq 100 Futures and the Dow Jones Futures remaining under 39,000 points.
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Technical analysis
Time Frame: 1 hour
USA500 Support & Resistance Table – 08/05/2024
| Support & Resistance | Level | Explanation |
| Resistance 2 | 5254.84 | Daily R2 |
| Resistance 1 | 5236.05 | Daily R1 |
| Support 1 | 5185.95 | Daily S1 |
| Support 2 | 5167.16 | Daily S2 |
USA500 Indicator Table – 08/05/2024
| Indicator | Signal |
| SMA 20 | Buy |
| SMA 50 | Buy |
| SMA 100 | Buy |
| MACD( 12;26;9) | Buy |
| RSI (14) | Neutral |
| Stochastic ( 9;6;3) | Sell |
USA500 Indicator / Period Table – 08/05/2024
| 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 08/05/2024 – Reference Price : 5212.58
| BUY | Simple Moving AverageBuy (3)Sell (0)Technical Indicators – OscillatorsBuy (1)Sell (1) |
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