USA500 Analysis

US Session Analysis for CFD Instruments 06/02/2024

Fundamental analysis

06 February, 2024

The USA500 is trading currently at 4,939.

On Monday, the primary stock indices on the US Wall Street Stock Exchange concluded the trading session on a downward trend.

The Dow Jones Industrial Average experienced a decline of 274.30 points, representing a 0.7 percent decrease, closing at 38,380.12 points.

Similarly, the broader Standard & Poor's 500 index witnessed a loss of 15.80 points, marking a 0.3 percent decrease, with the index settling at 4942.81 points by the end of trading.

Additionally, the Nasdaq Composite Index, which predominantly tracks technology stocks, registered a decline of 31.28 points, translating to a 0.2 percent decrease, reaching a closing value of 15,597.68 points.

Technical analysis

Time Frame: 1 hour

USA500 Support & Resistance Table - 06/02/2024

Support & Resistance	Level	Explanation
Resistance 2	4997.02	Daily R2
Resistance 1	4979.26	Daily R1
Support 1	4931.90	Daily S1
Support 2	4914.14	Daily S2

USA500 Indicator Table - 06/02/2024

Indicator	Signal
SMA 20	Sell
SMA 50	Buy
SMA 100	Buy
MACD( 12;26;9)	Buy
RSI (14)	Buy
Stochastic ( 9;6;3)	Buy

USA500 Indicator / Period Table - 06/02/2024

Indicator / Period	Day - Buy	Week - Buy	Month - Buy
MACD( 12;26;9)	Buy	Buy	Buy
RSI (14)	Buy	Buy	Buy
SMA 20	Sell	Buy	Buy

USA500 06/02/2024 - Reference Price : 4955.58

Buy

Simple Moving Average	Buy (2)	Sell (1)
Technical Indicators - Oscillators	Buy (3)	Sell (0)

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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 Canadian Investment Regulatory Organization (CIRO) 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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