SP500 (a 4-hour chart)
The commodity sector showed the most notable selling in the stock market. The industrial group Danaher showed the largest price change (DHR, -21.4%). The company shares fell as the company shared some parts of its business to a new company.
The index showed mixed dynamics, the price was decreasing and growing at the yesterday’s trades. However, buyers won that struggle and SP500 was able to grow by 0.30%. The resistance comes in at 2100, the support lies at 2085.
MACD returned to a growth. The indicator will show a buy signal till it stays in the positive area. RSI reversed to a growth which is a buy signal. The price bounced from the 100-EMA and broke the 200-EMA in the 4 hours chart. The price will grow till it stays above the moving averages (50, 100 and 200) in the 4 hours chart.
SP500 may continue its recovery. Buyers’ target is the level 2100. In the alternative scenario the instrument will decrease to 2070.