Current trend 

S&P500 index slightly decreases and trades at around 2690.4. The fall is caused by the Fed's minutes for March.

The regulator mentioned in its report the possibility of a more aggressive increase in the interest rate, as experts believe that the country's economy will gain momentum. Against this background, the yields of treasury bonds are added: the risk premium for 10-year bonds is 2.91%, the next target is 3%. The next meeting of the regulator will be held in early May, the probability of an increase in the rate is at around 43%.

As for the trade war, this week the US is only planning to announce a new list of goods that will be subject to additional duties. A response from China is expected. Also this week, the US President will meet with Japanese Prime Minister Shinzo Abe regarding trade consultations.

As for the individual sectors, Apple shares lost a lot of their price (about 2.2%): the nearest target and an important level of support is at the level of USD 150. As for S&P500 index, the nearest support is at the level of 2674.8 and if it is broken down, the next target will be the 4/8 Murray mark or 2656.3.

Support and resistance

Stochastic is at the level of 20 and indicates the possible correction.

Resistance levels: 2695.3, 2714.8.

Support levels: 2674.8, 2656.3.

Trading tips

Open short positions after the breakdown of the support level of 2674.8 with take-profit 2656.3 and stop-loss at 2695.3.

S&P500 index of the American stock exchange

BuySellSpread
2931.32925.954

Scenario

TimeframeDay's Range
RecommendationsSELL STOP
Entry Point2674.0
Take Profit2656.3
Stop Loss2695.3
Support levels2656.3, 2674.8, 2695.3, 2714.8
SPX: general review

The material published on this page is produced by the Claws&Horns Company and should not be considered as the provision of investment advice for the purposes of Directive 2004/39/EC; furthermore it has not been prepared in accordance with legal requirements designed to promote the independence of investment research and is not subject to any prohibition on dealing ahead of the dissemination of investment research.

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