USA500 Analysis

EU Session Analysis for CFD Instruments 23/05/2024

Fundamental analysis

23 May, 2024

The USA500 is currently trading above 5,300 levels.

U.S. stock index futures rose in evening deals on Wednesday, led chiefly by technology stocks after positive earnings and guidance from market darling Nvidia sparked a rally in the sector.

Optimism over the firm, which is considered as a bellwether for tech and artificial intelligence demand, largely overshadowed persistent concerns over sticky U.S. inflation and high interest rates- which were furthered by the minutes of the Federal Reserve’s late-April meeting.

S&P 500 Futures rose 0.2%, while Nasdaq 100 Futures rose 0.5%. Dow Jones Futures lagged, falling 0.1%.

Technical analysis

Time Frame: 1 hour

USA500 Support & Resistance Table - 23/05/2024

Support & Resistance	Level	Explanation
Resistance 2	5374.98	Daily R2
Resistance 1	5367.70	Daily R1
Support 1	5348.30	Daily S1
Support 2	5341.02	Daily S2

USA500 Indicator Table - 23/05/2024

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

USA500 Indicator / Period Table - 23/05/2024

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

USA500 23/05/2024 - Reference Price : 5357.32

Buy

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

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