US500 Chart Indicators and Price Movement
The US500, commonly known as the S&P 500, represents a broad market index tracking the performance of 500 major US companies, making it a critical benchmark for the American economy. Often referred to simply as “the SPX,” its performance can be heavily influenced by US economic data and monetary policy developments. Today’s fundamental outlook includes several key economic events: speeches by Federal Reserve officials Mary Daly, Lorie Logan, and Raphael Bostic, and data releases such as Core PCE Price Index, Consumer Spending, Personal Income, Goods Trade Balance, Wholesale Inventories, Chicago PMI, and University of Michigan consumer sentiment and inflation expectations. Given the importance of these releases, traders will closely monitor these events, especially inflation-related indicators and Fed speeches, to gauge potential shifts in monetary policy expectations and their subsequent impact on the US500.
Chart Notes:
• Chart time-zone is UTC (+03:00)
• Candles’ time-frame is 4h.
Analyzing the 4-hour (H4) chart of the US500 reveals an overall upward trend in price action, although recently the price has encountered resistance after touching the upper Bollinger Band and the 0 Fibonacci retracement level. Currently, the price is descending towards and slightly crossing below the middle Bollinger Band, indicating a potential short-term bearish correction. Additionally, volume candles demonstrate moderate selling activity, suggesting cautious sentiment among traders. The RSI indicator hovers around neutral at 49, reflecting balanced momentum without a clear directional bias. MACD and its histogram lines show diminishing bullish momentum, with MACD lines approaching a bearish crossover, reinforcing the possibility of a short-term bearish scenario before any continuation of the broader upward trend.
•DISCLAIMER: Please note that the above analysis is not an investment suggestion by “Capitalcore LLC”. This post has been published only for educational purposes.
