21, June 2016

SP500 (a 4-hour chart)

SP500 (a 4-hour chart)

General overview

On Monday, the US futures showed a sharp rise, as fears that the UK will vote for the exit from the European Union decreased.

Current situation

The index continued growing on Monday. The SP500 broke the resistance at 2086 and set a new local high at 2092. The index could not consolidate over the level and slightly fell back below 2086. The resistance comes in at 2086, the support is at 2070.

MACD is on the centerline. The histogram returned to a growth that coincided with the current growth of the price. RSI is in a neutral zone giving no signal. The index broke the 200-SMA and bounced off 50-SMA. The 100-SMA is above the price.

Trading recommendations

The index may growth further. The levels 2086 and 2100 are still our targets. Shall the index break the level 2070 downwards we will see it decreasing to 2055.