USA500 Analysis

EU Session Analysis for CFD Instruments 06/09/2023

Fundamental analysis

06 September, 2023

Entering into Tuesday morning the S&P 500 opened lower at 4,493.

S&P 500 has drifted 0.35% lower early Wednesday, while the NASDAQ Composite is fairing worse.

The weakness comes following a string of poor reports from China, the UK and Germany that has led to a risk-off posture to start the week.

Each country's Purchasing Managers Index (PMI) for the Services sector showed a slowing rate from July. Germany's PMI for August dropped five points from July to 47.3. China's Caixin Services PMI fell from 54.1 to 51.8. The UK's Services PMI for August fell two points to 49.5.

The drop also comes on the back of announcements that Saudi Arabia and Russia are both extending their voluntary oil production cuts for another 3 months.

Technical analysis

Time Frame: 1 hour

USA500 Support & Resistance Table - 06/09/2023

Support & Resistance	Level	Explanation
Resistance 2	4515.74	Daily R2
Resistance 1	4508.39	Daily R1
Support 1	4488.77	Daily S1
Support 2	4481.42	Daily S2

USA500 Indicator Table - 06/09/2023

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

USA500 Indicator / Period Table - 06/09/2023

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

USA500 06/09/2023 - Reference Price : 4498.58

Sell

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

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