US 500 index

Technical Analysis – US 500 index eases a bit below all-time high

Posted on December 23, 2020 at 1:49 pm GMT

The US 500 index has declined slightly from the all-time high of 3,730.53 over the last couple of days, taking the momentum indicators lower. The RSI dropped from the 70 level but is now pointing upwards again, while the stochastic is heading south after the downward move from the overbought territory. The 50-, 100- and 200-day simple moving averages (SMAs) are confirming the long-term upside tendency as the price remains well above them. If the price falls further, it could touch the 3,589 barrier before heading south [..]

Technical Analysis – US 500 index extends positive move; next target at all-time high

Posted on October 12, 2020 at 9:15 am GMT

The US 500 index has come under renewed buying interest, climbing above the 40-day simple moving average (SMA) following the rebound off the 3,200 support. The MACD and the RSI are heading slightly up, supporting the upside movement. The all-time high of 3,588.24 could be the next target, and if this gets violated, resistance could then develop around the 3,819 barrier, which is the 161.8% Fibonacci extension level of the down leg from 3,588.24 to 3,200. If sellers drive the pair [..]

Technical Analysis – US 500 index erases some gains; could weaken further in short-term

Posted on September 21, 2020 at 10:06 am GMT

The US 500 (Cash) index is diving towards the 23.6% Fibonacci retracement level of the up leg from the 39-month low of 2,183.95 to the record high of 3,588.24 at 3,260. The declining move over the last three consecutive days drove the market beneath the 50-day simple moving average (SMA) and the technical indicators are confirming the recent bearish mode. The MACD is falling slightly below the zero level, while the RSI is slipping below the 50 level. Steeper movements [..]

Technical Analysis – US 500 index touches 1-month peak but outlook remains neutral-to-bullish

Posted on July 6, 2020 at 11:48 am GMT

The US 500 cash index was promoting a bullish signal as it touched the 3,181 in the preceding session, but then it created a bearish doji candle. The technical indicators are mixed as the MACD is rising above its trigger line in the positive territory, while the RSI is sloping south around the 70 region. Moreover, the simple moving averages (SMAs) are suggesting a neutral-to-bullish mode as they give some optimism for upside tendency in the 4-hour chart. Hence, the short-run risk is looking neutral-to-positive at the moment and [..]

Technical Analysis – US 500 index holds marginally below 100-SMA; bullish in long term

Posted on June 22, 2020 at 1:08 pm GMT

The US 500 cash index found strong resistance around the 100-period simple moving average (SMA) over the last session, sending the indicators lower as well. The MACD is heading south below zero and its trigger line, while the RSI is pointing down below the neutral level of 50. Also, the red Tenkan-sen line declined beneath the blue Kijun-sen line suggesting more losses in the 4-hour chart. Should prices head lower, immediate support could come from the 38.2% Fibonacci retracement level of the upward [..]

Technical Analysis – US 500 index retreats after touching 15-week high

Posted on June 11, 2020 at 1:22 pm GMT

The US 500 cash index has been retreating over the last few days, after it found strong obstacle at the 15-week high of 3,233. The price has just breached the red Tenkan-sen line and may find support at the 200-day simple moving average (SMA), currently at 3,019, ahead of the 2,986 support, being the 23.6% Fibonacci retracement level of the up leg from 2,183.95 to 3,233. Falling below this line, the 100-day SMA at 2,944 and the 50-day SMA at [..]

Technical Analysis – US 500 index plunges to 4-month low; biggest fall since December 2018

Posted on February 27, 2020 at 7:33 am GMT

The US 500 index (Cash) has been in free fall mode since February 20 as it hit resistance at the record high of 3,392.21. The price is creating the biggest sell-off run since December 2018 and is approaching the nine-month ascending trend line, posting a fresh four-month low near the 200-day simple moving average (SMA) at 3,060. From a technical viewpoint, the moving averages are pointing down, while the MACD oscillator sank to the negative territory with strong momentum. Moreover, the RSI slipped to the oversold area and [..]

Technical Analysis – US 500 index flirts with record high; more gains expected

Posted on February 5, 2020 at 11:11 am GMT

The US 500 index has advanced considerably – as it found a strong support at the 50-day simple moving average (SMA) – and is heading towards the all-time high of 3,337.64. Looking at momentum indicators, the RSI is sloping up slightly above its neutral threshold of 50, suggesting that the market could keep rising in the near term. The rising MACD also supports this view, currently in the positive territory attempting to embrace its red signal line. A further move to the [..]

Technical Analysis – US 500 index prints bearish doji after new record high of 3,295

Posted on January 15, 2020 at 1:49 pm GMT

The US 500 stock index (cash) seems to be completing a bearish doji star formation if it ends the day in the red. The price recorded a fresh all-time high of 3,295 on Tuesday but the overbought conditions have already been detected as the RSI has been flattening near the 70 level over the last month. The slowdown in the MACD further increases the case for a downside correction or at least for some stabilization. Traders would like to see [..]

Technical Analysis – US 500 index retreats below record high of 3,020

Posted on July 18, 2019 at 9:03 am GMT

The US 500 stock index has pulled back somewhat after touching an all-time high of 3,020 in the prior week, reversing back below the red Tenkan-sen line. Momentum indicators now suggest that the market sentiment might get worse before getting better as the RSI is approaching the neutral area again and the MACD dived below its trigger line in the daily timeframe. Should bearish dynamics dominate in the very short-term, the market might revisit the 2,964 support and move even [..]

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