04, August 2016

SP500 (a 4-hour chart)

SP500 (a 4-hour chart)

General overview

Wall Street traded with slight gains as energy and financial sectors compensated healthcare and consumer goods decrease.

Current situation

The index showed a positive dynamics. Traders tried to push the index higher. However, the buyers ran out of steam and the upward move faded in the North American session. The resistance is seen at 2165, the support is at 2150.

The indicators generate a sell signal. MACD is in the negative area. MACD decreased which indicates sellers’ growing strength. Oscillator RSI is close to the oversold territory.

The moving averages slightly changed from yesterday.

Trading recommendations

We believe the growth will be continued now. The first target is the level 2160. We do not exclude the falls to 2140.