Current trend 

S&P500 index continues to trade in a green zone: the current rate has reached the level of 2854.1.

One of the main positive factors for the stock market was a statement by US President Donald Trump that he was dissatisfied with the tightening of the Fed's policy. In view of this, the dollar significantly lost its positions against major world currencies, and stock market quotes rose. On Friday, Fed Chairman Jerome Powell will address Jackson Hole, where the monetary policy of the regulator will also be discussed.

During the week, a delegation from China will arrive in the US to negotiate trade duties, but Donald Trump does not expect that the parties will reach an agreement, so the administration can introduce additional tariffs for another USD 200 billion. In any case, for the market, this is an important event that could have a negative impact if countries do not come to an agreement.

This week, investors will focus on data on orders for durable goods and the housing market.

Support and resistance

Stochastic is at 22 points and does not provide a signal for the opening of positions.

Resistance levels: 2861.3, 2871.1.

Support levels: 2847.0, 2841.8.

Trading tips

Long positions may be opened after breaking through the level of 2861.3 with take profit at 2871.1 and stop loss at 2847.0.

S&P500 index of the American stock exchange

BuySellSpread
2931.32925.954

Scenario

TimeframeDay's Range
RecommendationsBUY STOP
Entry Point2862.0
Take Profit2871.1
Stop Loss2847.0
Support levels2841.8, 2847.0, 2861.3, 2871.1
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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