13, July 2016

SP500 (a 4-hour chart)

SP500 (a 4-hour chart)

General overview

The USA Bonds Market was positive yesterday. The S&P 500 climbed to a new all-time high on Tuesday. The signs of the USA economy strength, the oil recovery and the cautious Fed position regarding the rate hike supported the index.

Current situation

The index S&P 500 continued to grow on Tuesday. The price tested the resistance level 2140 and then broke it through. Later the price tested the level 2150. The resistance comes in at 2150, the support lies at 2140.

MACD remained in the positive area that indicates the buyers’ strength. RSI is in the overbought area that also supports an upward trend.

The 50, 100 and 200 EMAs are moving upwards. The 50-EMA broke the 100 and 200 EMAs upwards which is a buy signal.

Trading recommendations

The pair is close to the strong resistance 2150. If the pair breaks it we expect the growth to 2180. We also do not exclude the downward correction to 2120.