USA500 Analysis

US Session Analysis for CFD Instruments 23/02/2021

Fundamental analysis

23 February, 2021 Research Department

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.

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

Simple Moving Average	Buy (0)	Sell (3)
Technical Indicators - Oscillators	Buy (0)	Sell (2)

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Be Aware: You can lose all, but not more than the balance of your Trading Account. These products may not be suitable for all clients therefore ensure you understand the risks and seek independent advice. You do not own, or have any interest in, the underlying assets. Fortrade Canada Limited is an Order Execution Only broker, and does not provide investment advice or recommendation. Fortrade is a member of the Investment Industry Regulatory Organization of Canada (IIROC) and a member of the Canadian Investor Protection Fund (CIPF). Fortrade Canada Limited is authorised to provide CFD trading services in all provinces in Canada except Quebec. Residents of Alberta province are required to be Accredited Investors to trade CFDs.

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. The vast majority of retail client accounts lose money when trading in CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Be Aware: You can lose all, but not more than the balance of your Trading Account. These products may not be suitable for all clients therefore ensure you understand the risks and seek independent advice. This material does not constitute an offer of, or solicitation for, a transaction in any financial instrument. Fortrade accepts no responsibility for any use that may be made of the information and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information, consequently any person acting on it does so entirely at their own risk.

The information on this site is not directed at residents of the United States or Belgium and is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

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