The USA500 index has reached levels above 5,300, reflecting strong performance in the latest trading sessions. The evening trading on Wednesday saw U.S. stock index futures climb significantly, building upon the momentum created by lower-than-expected consumer inflation data. This development sent Wall Street to new heights, sparking optimism among investors about potential reductions in interest rates.
The market’s buoyancy was influenced by the release of consumer price index figures that fell short of forecasts, softening the dollar and lowering Treasury yields. This scenario bolstered trader confidence in the likelihood of the Federal Reserve initiating rate cuts as early as September.
This enthusiasm continued into the after-market hours, where the S&P 500 Futures saw an uptick of 0.1%. Similarly, Nasdaq 100 Futures increased by 0.2%, and Dow Jones Futures ascended by 0.1%, indicating sustained positive sentiment among investors. Notably, those utilizing advanced AI trading tools have successfully navigated these market conditions on autopilot, achieving a remarkable 34% Return on Investment in the past 24 hours. Learn more about their strategies.
Technical analysis
Time Frame: 1 hour
USA500 Support & Resistance Table – 16/05/2024
| Support & Resistance | Level | Explanation |
| Resistance 2 | 5373.86 | Daily R2 |
| Resistance 1 | 5359.35 | Daily R1 |
| Support 1 | 5320.65 | Daily S1 |
| Support 2 | 5306.14 | Daily S2 |
USA500 Indicator Table – 16/05/2024
| 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 – 16/05/2024
| 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 16/05/2024 – Reference Price : 5339.08
| BUY | Simple Moving AverageBuy (3)Sell (0)Technical Indicators – OscillatorsBuy (1)Sell (0) |
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