The drop in US technology stocks looked set to resume on Tuesday morning, with Nasdaq 100 and S&P 500 futures sliding, after rising bond yields spooked investors and triggered a sharp sell-off on Monday. Analysts pointed to rising bond yields as the catalyst for the sharp fall in the more expensive parts of the stock market. Higher bond yields traditionally weigh on stocks as they offer a safe and attractive alternative investment. The market's eyes will be on Federal Reserve chair Jerome Powell on Tuesday, as he testifies before Congress, for comments on the rise in yields.
USA500 Analysis
US Session Analysis for CFD Instruments 23/02/2021
Technical analysis
Time Frame: 1 hour
USA500 Support & Resistance Table - 23/02/2021
Support & Resistance | Level | Explanation |
Resistance 2 | 3884.75 | Daily R2 |
Resistance 1 | 3871.28 | Daily R1 |
Support 1 | 3835.36 | Daily S1 |
Support 2 | 3821.89 | Daily S2 |
USA500 Indicator Table - 23/02/2021
Indicator | Signal |
SMA 20 | Sell |
SMA 50 | Sell |
SMA 100 | Sell |
MACD( 12;26;9) | Sell |
RSI (14) | Sell |
Stochastic ( 9;6;3) | Neutral |
USA500 Indicator / Period Table - 23/02/2021
Indicator / Period | Day - Sell | Week - Buy | Month - Buy |
MACD( 12;26;9) | Sell | Buy | Buy |
RSI (14) | Sell | Buy | Buy |
SMA 20 | Sell | Sell | Buy |
USA500 23/02/2021 - Reference Price : 3853.32
Sell |
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