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USA500 Analysis

EU Session Analysis for CFD Instruments 08/04/2021

Fundamental analysis

08 April, 2021

Major averages hovered near unchanged on Wednesday, with the S&P closing up slightly after the Federal Reserve released minutes from its most recent meeting that reinforced the U.S. central bank’s position to remain patient before raising rates. The major indexes held near unchanged for most of the day but the S&P 500 briefly climbed to a session high after the minutes, in which Fed officials said it would likely take “some time” for substantial further progress on goals of maximum employment and stable prices. But the gains were minor and short-lived, as many market participants question the ability to hold off on a rate hike for as long as the Fed has stated. The yield on the benchmark 10-year U.S. Treasury note moved higher late in the session. Still, it remained below a 14-month high of 1.776% hit on March 30. The recent pullback in yields has helped growth names and lifted technology and communication services stocks on the day. The upcoming earnings season and progress in a multi trillion-dollar infrastructure proposal could decide Wall Street’s path forward. Analysts have raised expectations for first-quarter S&P 500 earnings to increase to 24.2%, according to Refinitiv IBES data as of April 1, versus 21% forecast on Feb. 5.

Technical analysis

USA500 Analysis Technical analysis 08/04/2021
Time Frame: 1 hour

USA500 Support & Resistance Table - 08/04/2021

Support & Resistance Level Explanation
Resistance 2 4111.82 Daily R2
Resistance 1 4102.50 Daily R1
Support 1 4077.66 Daily S1
Support 2 4068.34 Daily S2

USA500 Indicator Table - 08/04/2021

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

USA500 Indicator / Period Table - 08/04/2021

Indicator / Period Day - BuyWeek - BuyMonth - Buy
MACD( 12;26;9) Buy BuyBuy
RSI (14) Buy BuyBuy
SMA 20 Buy BuyBuy

USA500 08/04/2021 - Reference Price : 4090.08

Simple Moving AverageBuy (3)Sell (0)
Technical Indicators - OscillatorsBuy (3)Sell (0)
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