US 500 index

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Technical Analysis – US 500 index flirts with record high; more gains expected

Posted on February 5, 2020 at 11:10 am GMT

The US 500 index has advanced considerably – as it found a strong support at the 50-day simple moving average (SMA) – and is heading towards the all-time high of 3,337.64. Looking at momentum indicators, the RSI is sloping up slightly above its neutral threshold of 50, suggesting that the market could keep rising in the near term. The rising MACD also supports this view, currently in the positive territory attempting to embrace its red signal line. A further move to the [..]

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Technical Analysis – US 500 index prints bearish doji after new record high of 3,295

Posted on January 15, 2020 at 1:49 pm GMT

The US 500 stock index (cash) seems to be completing a bearish doji star formation if it ends the day in the red. The price recorded a fresh all-time high of 3,295 on Tuesday but the overbought conditions have already been detected as the RSI has been flattening near the 70 level over the last month. The slowdown in the MACD further increases the case for a downside correction or at least for some stabilization. Traders would like to see [..]

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Technical Analysis – US 500 index retreats below record high of 3,020

Posted on July 18, 2019 at 9:03 am GMT

The US 500 stock index has pulled back somewhat after touching an all-time high of 3,020 in the prior week, reversing back below the red Tenkan-sen line. Momentum indicators now suggest that the market sentiment might get worse before getting better as the RSI is approaching the neutral area again and the MACD dived below its trigger line in the daily timeframe. Should bearish dynamics dominate in the very short-term, the market might revisit the 2,964 support and move even [..]

Technical Analysis – US 500 stock index records new all-time highs close to 3,000

Posted on July 4, 2019 at 8:34 am GMT

US 500 index showed a notable advance yesterday, completing a fresh all-time high around 3,000, but it ended the day in red. The advance of the trigger line above the MACD and the bullish momentum in the indicator suggests there is some more room for improvement, while the RSI indicator seems to be flat near the overbought zone, signaling a possible overstretched market. Also, the 50- and 200-day simple moving averages (SMAs) are moving sideways despite the latest upside run. [..]

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Technical Analysis – US 500 index may pick up steam above all-time high

Posted on June 26, 2019 at 11:59 am GMT

The US 500 index retreated below the all-time high of 2964 in the previous couple of days, testing the red Tenkan-sen line in the daily timeframe. The 200-simple moving average (SMAs) remains flat, failing to confirm the long-term bullish picture. The MACD is extending is bullish run with weak momentum while the RSI is pointing north in the positive zone. A closing price above the all-time high (2964) could trigger another bullish phase more likely towards the 3000 psychological mark. Should [..]

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Technical Analysis – US 500 index buying interest in progress

Posted on June 5, 2019 at 1:14 pm GMT

The US 500 stock index has rebounded somewhat after falling to a three-month low of 2728.50 and the momentum indicators suggest that the market sentiment might get better as the RSI is reversing back to the upside and the MACD also looks to be changing direction, moving down to meet its red signal line in the negative zone. Should bullish dynamics dominate, the market might revisit the lower surface of the Ichimoku cloud and the flat Kijun-sen line currently at 2840. [..]

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Technical Analysis – US 500 index looks overstretched after hitting all-time high

Posted on May 9, 2019 at 1:02 pm GMT

The US 500 stock index has declined over the last three consecutive days after it reached another all-time high of 2960.48. Currently, the price is meeting the 2860 support area, which overlaps with the 50-day simple moving average in the daily timeframe, slipping beneath the red Tenkan-sen and the blue Kijun-sen lines. The bearish correction picture in the medium term is further supported by the MACD, which is falling below its red signal line and the stochastic oscillator is moving [..]

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Technical Analysis – US 500 index flies near 6-month peak; all-time high is near

Posted on April 19, 2019 at 9:12 am GMT

The US 500 index price skyrocketed to a fresh six-month high of 2918 on Thursday before it pared those gains later in the day. The price is holding above the red Tenkan-sen line as well as above the ‘golden cross’ within the 50- and 200-simple moving averages (SMAs). Technically, the RSI indicator is pointing marginally up near the overbought territory. However, the MACD oscillator is developing with stable momentum over the last sessions, despite the strong upside rally in the [..]

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European Open Preview – Dollar looks to US jobs data; stocks advance

Posted on April 5, 2019 at 9:08 am GMT

US dollar steadies ahead of NFP report Euro and pound post soft move after ECB minutes and Brexit updates Stocks continue to advance as trade deal is close Nonfarm payrolls in the limelight The greenback extended gains versus Japanese yen earlier on Friday, reaching a fresh three-week high around 111.80 before returning slighlty lower. All eyes will be on the US employment report for March at 1230 GMT. Predictions seem to be optimistic compared to the preceding month. Nonfarm payrolls (NFP) are [..]

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Technical Analysis – US 500 index eases after it hit fresh 6-month high

Posted on April 4, 2019 at 11:56 am GMT

The US 500 stock index is edging slightly lower after finding strong resistance at the fresh six-month high of 2885 that it completed on Wednesday. The price retains bullish action as it holds above the 50- and 200-day simple moving averages (SMAs) which posted a ‘golden cross’ in the preceding sessions. Looking at momentum oscillators in the daily chart though, they suggest negative movements may be on the cards. The RSI is above its neutral 50 line but is pointing down, while the stochastic reversed lower in the overbought zone, posting [..]

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