S&P500 (a 4-hour chart)
Wall Street opened lower on Thursday amid oil prices decrease. Besides, investors were cautious ahead of Janet Yellen's speech.
The index almost recovered after losses it had suffered last week. The price rallied to the level 2165 during the Asian session. After breaking the level S&P500 gave up its latest gains and retreated to the 2157 region. The 200-EMA stopped the growth of the index. The price bounced off the line and returned to the 100-EMA in the 4 hours chart. The 100 and 200 EMAs are heading lower. The 50-EMA is turning upwards. The resistance is seen at 2165, the support is at 2150.
MACD is in the positive area. The histogram grew which is a buy signal. RSI is within the positive territory.
The S&P500 index found a support around 2156. If this mark holds the price will continue growing. Our first target is the level 2165, further out the mark 2170. A move below the mark will target sellers to 2150. After breaking the level the price may decrease to 2145.