29, June 2016

SP500 (Gráfico de 4 horas)

SP500 (Gráfico de 4 horas)

General overview

The USA stock markets recovered when investors realized that the Brexit theme is behind and the Fed is now unlikely to hike the rates this year. On Tuesday the Bonds Market showed a moderate recovery after the sharp fall of the previous two sessions.

Current situation

The overall outlook remained bearish; the index is in a descending channel. The resistance comes in at 2025, the support lies at 2012.

MACD is in the negative area, its histogram moved north, that is a buy signal. RSI bounced off the oversold level. If RSI grows that will be a buy signal. The Moving Averages direction is downwards.

Trading recommendations

If the index keeps growing the level 2025 will become its next target.