Technical Outlook for S&P500 (SPX)
Key Takeaways
Fundamental Analysis
SPX was mixed after the FOMC where interest rates were held at 0.25%. Initial reaction was bullish but then we had several strong pullbacks throughout the press conference. SPX ended higher.
Technical Analysis
Supported by ascending trendline, a break below will open up the Gap support as well as the more significant ascending trendline for the next level of support. A break even further could open up the 200SMA as the next downside target.
Regards,
Michael Harding
RISK DISCLAIMER
Information and opinions contained with this video are for educational purposes only and do not constitute trading recommendations. Trading Forex on margin carries a high level of risk and may not be suitable for all investors.
- 130 points away from all time high
- Stocks higher after the meeting
- Fed's Powell: The labor market has a long way to go to recover.
- Fed's Powell: There's clearly a risk we're going to see a slowdown in the rate of growth, in economic activity, and in hiring.
Fundamental Analysis
SPX was mixed after the FOMC where interest rates were held at 0.25%. Initial reaction was bullish but then we had several strong pullbacks throughout the press conference. SPX ended higher.
Technical Analysis
Supported by ascending trendline, a break below will open up the Gap support as well as the more significant ascending trendline for the next level of support. A break even further could open up the 200SMA as the next downside target.
Regards,
Michael Harding
RISK DISCLAIMER
Information and opinions contained with this video are for educational purposes only and do not constitute trading recommendations. Trading Forex on margin carries a high level of risk and may not be suitable for all investors.
Disclaimer
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