Current trend

S&P500 broad spectrum index is declining with the opening of the European session. At the moment, the rate is 2701.2, the nearest important support level, from which a turn is possible, is located at 2695.3 or 0/8 Murray.

10-year bonds yield is 2.86%, which is below the important psychological level of 3%, so a rebound and correction of the stock index are possible. According to world news reports, the US president's team arrived in North Korea to prepare a summit between the leaders of the two countries, although last week Donald Trump wrote that he did not plan to hold the meeting. One of the main goals of the American president is to achieve the destruction of the site for the testing of nuclear weapons and to stop all developments related to this project.

Today, special attention should be paid to the housing price index and consumer confidence indicator.

Support and resistance

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

Resistance levels: 2700.2, 2710.0.

Support levels: 2695.3, 2690.4.

Trading tips

Long positions may be opened from the support level of 2695.3 with take-profit at 2724.6 and stop-loss at 2690.4.

S&P500 index of the American stock exchange

BuySellSpread
2654.52649.154

Scenario

TimeframeDay's Range
RecommendationsBUY LIMIT
Entry Point2695.3
Take Profit2724.6
Stop Loss2690.4
Support levels2690.4, 2695.3, 2700.2, 2710.0
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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