08, July 2016

SP500 (a 4-hour chart)

 SP500 (a 4-hour chart)

General overview

Strong Labor market reports in the USA supported the Bonds Market which grew on Thursday.

Current situation

The index showed mixed dynamics on Thursday. The pair made an attempt to grow during the day and fell in the American session. The overall picture remained bullish. The resistance comes in at 2100, the support lies at 2085.

The indicators are in the green zone. MACD is in the positive area; its histogram remained at the same level, it is a buy signal. RSI is close to the overbought area. If the oscillator grows further, it will be a buy signal. The 200-EMA acts as a support for the S&P 500 in the 4 hours chart. The 200-EMA direction is horizontal. The 50-EMA is turning upwards, the 100-EMA is moving downwards.

Trading recommendations

The index S&P 500 decrease may be continued. If the SP500 index breaks the level of 2085 we expect the downward movement to 2070.