Current trend

S&P500 index is traded with an increase: support was provided by macroeconomic statistics.

Published yesterday, the "Beige Book" showed the growth of the US economy. Producer Price Index showed a slight decrease reaching 2.3% YoY. Investors also focused on news that the US could hold another round of talks with China to avoid further growth of duties and trade war. One of the leaders of growth was the shares of tobacco companies - after the publication of the Food and Drug Administration (FDA) report about electronic cigarettes that can also harm health, and their distribution among young people is "epidemic". Perhaps in the future, some restrictive measures will be taken against this.

Today, important news on interest rates of the ECB, as well as the level of inflation in the US will be published.

Support and resistance

Stochastic is at 70 points and does not provide a signal for the opening of positions.

Resistance levels: 2900.4, 2910.2.

Support levels: 2882.5, 2874.5.

Trading tips

Long positions may be opened from the current level with take profit at 2900.4 and stop loss at 2882.5.

S&P500 index of the American stock exchange

BuySellSpread
2697.52691.956

Scenario

TimeframeDay's Range
RecommendationsBUY
Entry Point2894.4
Take Profit2900.4
Stop Loss2882.5
Support levels2874.5, 2882.5, 2900.4, 2910.2
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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