The S&P 500 index currently lingers just below the 5,300 mark, reflecting a hesitant tone in the U.S. stock markets during Thursday’s evening trading session. Despite recent highs driven by favorable inflation data, Wall Street witnessed a subdued close following comments from Federal Reserve officials. These officials suggested that the market’s expectations for rapid rate cuts might be overly optimistic, tempering investor sentiment.
Just earlier this week, the S&P 500 surged to record levels, buoyed by consumer inflation figures that fell short of projections, hinting at potential easing in monetary policy. However, the enthusiasm waned as the Federal Reserve signaled a more cautious approach, leading to a recalibration of expectations for a September rate reduction.
The market’s response was measured, with S&P 500 Futures stabilizing, while both Nasdaq 100 and Dow Jones Futures showed minimal movement. Concurrently, a rise in Treasury yields exerted additional pressure on equities, underscoring the fragile balance in investor outlook driven by policy anticipations and economic indicators.
Investors leveraging AI-driven analytics have navigated these fluctuations with notable success, reportedly achieving a 34% return on investment within the last 24 hours by capitalizing on predictive insights that enabled them to act ahead of market shifts. Discover how they did it.
Technical analysis
Time Frame: 1 hour
USA500 Support & Resistance Table – 17/05/2024
| Support & Resistance | Level | Explanation |
| Resistance 2 | 5351.34 | Daily R2 |
| Resistance 1 | 5337.91 | Daily R1 |
| Support 1 | 5302.09 | Daily S1 |
| Support 2 | 5288.66 | Daily S2 |
USA500 Indicator Table – 17/05/2024
| 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 – 17/05/2024
| 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 17/05/2024 – Reference Price : 5320.58
| BUY | Simple Moving AverageBuy (3)Sell (0)Technical Indicators – OscillatorsBuy (1)Sell (1) |
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