S&P500 INDEX Technical Analysis & Outlook Ahead of Fed Decision
S&P 500 Technical Analysis
The market is approaching a key week with potential volatility driven by the Fed Rate Decision and GDP data. Here's a breakdown of the scenarios:
Bullish Scenario: Continuation of the Uptrend:
The market is approaching a key week with potential volatility driven by the Fed Rate Decision and GDP data. Here's a breakdown of the scenarios:
Bullish Scenario: Continuation of the Uptrend:
- Key Levels:
- Breakout Support: 6022
- Pivot Point: 6058
- Resistance Line: 6099 and 6143. - Conditions for Bullish Continuation:
- Price must remain above 6022 (Breakout Support Line).
- Stabilization above the 6099 resistance will confirm upward momentum toward 6143 (next resistance).
- This move would support a continuation of the uptrend toward a new ATH. - Fed Rate Impact:
- If the Fed cuts rates by 25 bps, the market may interpret this as dovish, fueling bullish sentiment and risk appetite.
Bearish Scenario: Continuation of Downtrend: - Key Levels:
- Breakout Support Line: 6022
- First Support: 5971
- Next Supports: 5932 and 5863. - Conditions for Bearish Reversal:
- Price must break and close below 6022 on a 4-hour candle.
- A break below this level opens the door to the next support at 5971.
- Further bearish momentum could drive the price toward the Strong Support Zone around 5863. - Fed Rate Impact:
- If the Fed holds rates steady at 4.75% or signals hawkish intentions (e.g., no future rate cuts), bearish momentum may build due to reduced liquidity expectations.
Trend Outlook:
- Uptrend Continuation: Above 6022 and confirmed by a breakout above 6099.
- Downtrend Continuation: Below 6022, targeting 5971 and lower levels.
Key Summary:- Bullish Confirmation: Hold above 6022 and break above 6099.
- Bearish Signal: Break and close below 6022, with lower targets of 5971 and 5932.
- Fed & GDP Impact: Monitor Fed decision for rate cuts (bullish) or no change (bearish).
- Bullish Confirmation: Hold above 6022 and break above 6099.
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