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

USA500 Analysis Technical analysis 17/05/2024

Time Frame: 1 hour

USA500 Support & Resistance Table – 17/05/2024

Support & ResistanceLevelExplanation
Resistance 25351.34Daily R2
Resistance 15337.91Daily R1
Support 15302.09Daily S1
Support 25288.66Daily S2

USA500 Indicator Table – 17/05/2024

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

USA500 Indicator / Period Table – 17/05/2024

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

USA500 17/05/2024 – Reference Price : 5320.58

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

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