The S&P 500 index keeps gradually falling and is currently trading at the level of 2636.7.
The decline in the instrument was caused by a statement from the US Fed that the regulator is still planning to raise interest rates at least twice before the end of the year, as it expects inflation to continue growing and to exceed its 2% target soon. Despite a recent slowdown in the pace of the GDP growth, the American economy remains strong and its further growth is determined by good monetary policy and the recent reforms implemented by the president administration.
The US companies will continue publishing their earnings reports today. Their announcement will make DowDuPont, Activision and GoPro. From macroeconomic statistics, attention should be paid to US data on the Markit Services PMI, Factory Orders and Trade Balance.
Support and resistance
The Stochastic is at the 15-point mark, signalling the possibility of an upward correction.
Long positions can be opened from the support level of 2617.2 (2/8 Murray).
Support levels: 2617.2, 2592.4.
Resistance levels: 2656.3, 2675.8.
Long positions can be opened from the level of 2617.2 with the target at 2637.7 and stop-loss at 2600.0.
S&P500 index of the American stock exchange
|Support levels||2592.4, 2617.2, 2656.3, 2675.8|
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