15, August 2016

SP500 (a 4-hour chart)

 SP500 (a 4-hour chart)

General overview

The U.S stocks traded lower on Friday right the next day they had reached their historical peaks since 1999 on the back of the weaker-than-expected U.S statistics.

Current situation

The index set a new all-time high at the mark 2184.8 and is now decisively trading a few pips below this mark. The resistance is seen at 2180, the support is at 2165.

MACD decreased which indicates the buyers’ positions weakening. RSI moved away from the overbought area and is trending downwards.

The moving averages have slightly changed from Friday.

Trading recommendations

S&P500 shall struggle for the mark 2180. If buyers win the price will climb towards 2200. Alternatively, sellers will push the price towards 2165.