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

USA500 Analysis Technical analysis 16/05/2024

Time Frame: 1 hour

USA500 Support & Resistance Table – 16/05/2024

Support & ResistanceLevelExplanation
Resistance 25373.86Daily R2
Resistance 15359.35Daily R1
Support 15320.65Daily S1
Support 25306.14Daily S2

USA500 Indicator Table – 16/05/2024

IndicatorSignal
SMA 20Buy
SMA 50Buy
SMA 100Buy
MACD( 12;26;9)Buy
RSI (14)Neutral
Stochastic ( 9;6;3)Neutral

USA500 Indicator / Period Table – 16/05/2024

Indicator / PeriodDay – BuyWeek – BuyMonth – Buy
MACD( 12;26;9)BuyBuyBuy
RSI (14)NeutralBuyBuy
SMA 20BuyBuyBuy

USA500 16/05/2024 – Reference Price : 5339.08

BUYSimple Moving AverageBuy (3)Sell (0)Technical Indicators – OscillatorsBuy (1)Sell (0)

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