The USA500 index is maintaining its position above the 5,200 mark. As we transitioned into Monday’s evening trading, U.S. stock index futures exhibited minimal changes, reflecting a market in wait-and-see mode ahead of crucial inflation data expected this week. This upcoming data is pivotal as it might dictate the future direction of interest rates. Amidst this anticipatory atmosphere, meme stocks saw an unusual flurry of activity post-market, suggesting a divergent investor focus.
Trading patterns showed a stasis similar to the day’s earlier sessions on Wall Street, with market participants holding their breath for the inflation updates scheduled for Tuesday and Wednesday. The S&P 500 Futures edged down marginally, while the Nasdaq 100 Futures ticked down by 0.1%, and Dow Jones Futures were unchanged.
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Technical analysis
Time Frame: 1 hour
USA500 Support & Resistance Table – 14/05/2024
| Support & Resistance | Level | Explanation |
| Resistance 2 | 5267.06 | Daily R2 |
| Resistance 1 | 5257.18 | Daily R1 |
| Support 1 | 5230.82 | Daily S1 |
| Support 2 | 5220.94 | Daily S2 |
USA500 Indicator Table – 14/05/2024
| Indicator | Signal |
| SMA 20 | Buy |
| SMA 50 | Buy |
| SMA 100 | Buy |
| MACD( 12;26;9) | Buy |
| RSI (14) | Buy |
| Stochastic ( 9;6;3) | Neutral |
USA500 Indicator / Period Table – 14/05/2024
| 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 14/05/2024 – Reference Price : 5244.82
| BUY | Simple Moving AverageBuy (3)Sell (0)Technical Indicators – OscillatorsBuy (2)Sell (0) |
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