05, August 2016

SP500 (a 4-hour chart)

SP500 (a 4-hour chart)

General overview

Wall Street showed low volatile trades, remaining in a flat on Thursday. The traders are cautious ahead of the NFP.

Current situation

The index held near the unchanged mark on Thursday. The price spent the day close to the opening mark. The resistance is seen at 2165, the support is at 2150.

MACD is in the negative area close to its centerline. Oscillator RSI is neutral.

The 50-EMA is crossing the 100-EMA downwards which is a sell signal.

Trading recommendations

We advise to short with the first target - 2150. When the pair consolidates below the first target, we can open deals to the level of 2140.