S&P500 (a 4-hour chart)
Wall Street opened higher being supported by energy stocks growth. Investors keep an eye on Trump's new policies and key appointments to his administration.
The index traded flat as the neutral phase that started last week was intact. Prices stayed in a wide range between levels 2150 and 2170. Sellers are gaining more control limiting buyers' attempt to take out 2170. The benchmark bounces off the level on any up-move to it. S&P500 stayed around the 50-EMA in the 1 hour chart. The 50-EMA provides a solid support limiting the index further losses. The 50-EMA is neutral while the 100 and 200 EMAs are pointing higher. The resistance is seen at 2170, the support is at 2160.
MACD decreased which indicates the buyers’ positions weakening. RSI moved downwards.
After a daily close below 2150 we could see the pair extending down to the 2140 region during the next days.