S&P 500 Technical Analysis | S&P 500 Trading: 2020-07-16 | IFCM India
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S&P 500 Technical Analysis - S&P 500 Trading: 2020-07-16

S&P 500 Technical Analysis Summary

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Strong SellSellNeutralBuyStrong Buy

Above 3240.85

Buy Stop

Below 3105.79

Stop Loss

Ara Zohrabian
Senior Analytical Expert
Articles 2452
IndicatorSignal
RSI Neutral
MACD Buy
Donchian Channel Buy
MA(200) Buy
Fractals Buy
Parabolic SAR Buy

S&P 500 Chart Analysis

S&P 500 Chart Analysis

S&P 500 Technical Analysis

On the daily timeframe SP500: D1 has risen above the 200-day moving average MA(200), which is rising itself. We believe the bullish momentum will continue after the price breaches above the upper boundary of Donchian channel at 3240.85. A level above this can be used as an entry point for placing a pending order to buy. The stop loss can be placed below 3105.79. After placing the order, the stop loss is to be moved every day to the next fractal low, following Parabolic signals. Thus, we are changing the expected profit/loss ratio to the breakeven point. If the price meets the stop loss level (3105.79) without reaching the order (3240.85), we recommend cancelling the order: the market has undergone internal changes which were not taken into account.

Fundamental Analysis of Indices - S&P 500

Economic data from US were positive recently. Will the SP500 rebound continue?

Recent US economic data were positive: industrial production grew faster than expected in June, and consumer prices together with capacity utilization rose more than expected. Thus industrial production expanded 5.4% over month after 1.4% increase in May when a 4.5% growth was forecast, consumer prices rose 0.6% over month after 0.1% decline in May, and capacity utilization (percentage of available resources utilized by manufacturers, mines, and utilities) rose to 68.6% in June from 65.1% in May. And on monetary front Federal Reserve Governor Lael Brainard called for sustained large scale asset purchases by the US central bank to support the recovery. Positive US economic data are bullish for SP500.

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This overview has an informative and tutorial character and is published for free. All the data, included in the overview, are received from public sources, recognized as more or less reliable. Moreover, there is no guarantee that the indicated information is full and precise. Overviews are not updated. The whole information in each overview, including opinion, indicators, charts and anything else, is provided only for familiarization purposes and is not financial advice or а recommendation. The whole text and its any part, as well as the charts cannot be considered as an offer to make a deal with any asset. IFC Markets and its employees under any circumstances are not liable for any action taken by someone else during or after reading the overview.

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