30, June 2016

SP500 (a 4-hour chart)

SP500 (a 4-hour chart)

General overview

The US stocks sharply rose on Wednesday. The Bonds Market has been growing the second day in a row, as the initial panic that was caused by the decision of the UK to leave the European Union disappears. The Standard & Poor's 500 came out in profit compared with levels where it was at the end of the last year.

Current situation

The index recovered and was able to set a new local high at 2061. SP500 was able to grow by 1,65% during the course of trades. The resistance comes in at 2070, the support lies at 2055.

MACD is in the negative area. The indicator reached the centerline. If MACD moves into the positive area the index will keep growing. RSI is near the overbought level. If RSI declined that will be a sell signal. Shall it move upwards and the index will grow. The index broke the 50-SMA on the 4 hour chart. The 50-SMA is moving downwards. The 100-EMA is crossing the 200-EMA downwards.

Trading recommendations

After the support level of 2040 breakthrough down the way to the support 2025 will be opened.