15, July 2016

SP500 (a 4-hour chart)

SP500 (a 4-hour chart)

General overview

The Bonds Market in the USA grew yesterday. Investors are evaluating the BoE's decision and the USA statistics. The Standard & Poor's 500 has been showing a profit the 5th session in a line, the index renewed its historical highs.

Current situation

The index went back and forth during the course of the session on Thursday. It grew during the Asian and the European sessions and moved away from all-time high at the American one. The market looks like it could pull back a little. The resistance comes in at 2165, the support lies at 2150.

MACD is in the positive area. Its histogram decreased which indicates the buyers’ positions weakening. The indicator still gives a buy signal. RSI is in the overbought territory which is a buy signal for now.

The 50-EMA crossed the 100 and 200 EMAs upwards which indicated the buyers’ strength.

Trading recommendations

We suppose the index S&P 500 will form the consolidation between the levels of 2165-2150.