27, July 2016

SP500 (a 4-hour chart)

 SP500 (a 4-hour chart)

General overview

The Bonds Markets in the USA showed a mixed trading sentiment on Thursday. Investors evaluated corporate earning reports and prepared themselves for the Fed's meeting results.

Current situation

The index seems to have changed its sentiment from a positive to a negative one. Bears are gradually gaining more control, the quotes get under pressure more often. The resistance is seen at 2165, the support is at 2150.

MACD is in the positive territory. Its histogram decreased which indicates the buyers’ positions weakening. RSI left the overvalued territory which is a sell signal. RSI is in the neutral territory now.

The trading instrument got under the 50 and 100 EMAs in the 1 hour chart. The price is sandwiched between the 50 and 100 EMAs on one hand and the 200-EMA on the other. The S&P500 is at the 50-EMA in the 4 hours chart. The moving averages direction is upwards.

Trading recommendations

After the support level of 2150 breakthrough down the way to the support 2140 will be opened.