24, June 2016

SP500 (a 4-hour chart)

SP500 (a 4-hour chart)

General overview

The US Bonds Market was under expectations of the latest events in the UK. Despite the positive sentiment regarding the referendum, the contradiction of the recent polls made the markets more cautious. The energy Sector in S&P500 fell by 0,6%. The share of the health sector grew by 6.78 at the same time.

Current situation

The instrument grew and set a new local high at 2101. However SP500 was not able to remain there and decreased back below the mark 2100. The resistance comes in at 2100, the support is at 2086.

MACD moved into the positive area. The indicator grew that is a buy signal. RSI also grew and approached the overbought level. If the signal line remains at the same place the growth will be continued. If it decreased the instrument will fall. The index is above all Moving Averages (50, 100 and 200). The 100-SMA works as a support for the price.

Trading recommendations

A break above the mark 2100 risks a growth towards 2110. If the price cannot remain at the current levels and decreases the price will move down to 2086.