The USA500 index remains buoyant, trading consistently above the 5,200 mark. Thursday’s US stock index futures saw modest advances, continuing the upward momentum initiated in the previous Wall Street session. This uptick was supported by emerging signs of easing in the labor market, which contributed to a drop in Treasury yields. Market participants are holding onto the view that the Federal Reserve might begin reducing interest rates by September. However, expectations could shift rapidly with the impending release of crucial inflation data next week, which is highly anticipated to shed more light on the Fed’s rate path. As a result, S&P 500 Futures saw a slight rise of 0.1%, with similar modest gains observed in Nasdaq 100 and Dow Jones Futures.
Technical analysis
Time Frame: 1 hour
USA500 Support & Resistance Table – 10/05/2024
| Support & Resistance | Level | Explanation |
| Resistance 2 | 5276.11 | Daily R2 |
| Resistance 1 | 5262.78 | Daily R1 |
| Support 1 | 5227.22 | Daily S1 |
| Support 2 | 5213.89 | Daily S2 |
USA500 Indicator Table – 10/05/2024
| Indicator | Signal |
| SMA 20 | Buy |
| SMA 50 | Buy |
| SMA 100 | Buy |
| MACD( 12;26;9) | Buy |
| RSI (14) | Buy |
| Stochastic ( 9;6;3) | Buy |
USA500 Indicator / Period Table – 10/05/2024
| Indicator / Period | Day – Buy | Week – Buy | Month – Buy |
| MACD( 12;26;9) | Buy | Buy | Buy |
| RSI (14) | Buy | Buy | Buy |
| SMA 20 | Buy | Buy | Buy |
USA500 10/05/2024 – Reference Price : 5243.58
| BUY | Simple Moving AverageBuy (3)Sell (0)Technical Indicators – OscillatorsBuy (3)Sell (0) |
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