S&P 500 at Record Highs on September Rate Cut Hopes
Futures tracking the S&P 500 and Nasdaq held at record highs on Wednesday, supported by growing expectations that the Federal Reserve could resume its monetary policy easing cycle next month.
Technical Outlook:
The price is expected to consolidate between 6468 and 6425 until a breakout occurs.
Stability below 6468 would favor a bearish move toward 6425.
A 1H close above 6468 could push the price higher toward 6528.
Pivot: 6468
Support: 6437, 6425, 6389
Resistance: 6490, 6500, 6528
Futures tracking the S&P 500 and Nasdaq held at record highs on Wednesday, supported by growing expectations that the Federal Reserve could resume its monetary policy easing cycle next month.
Technical Outlook:
The price is expected to consolidate between 6468 and 6425 until a breakout occurs.
Stability below 6468 would favor a bearish move toward 6425.
A 1H close above 6468 could push the price higher toward 6528.
Pivot: 6468
Support: 6437, 6425, 6389
Resistance: 6490, 6500, 6528
Trade active
SPX500 OverviewThe price remains below the pivot line after recording a new all-time high at 6484, and has once again stabilized under 6468.
Today’s PPI release is expected to have a strong market impact, with forecasts pointing to a negative outlook for indices.
Technical Outlook:
As long as the price trades below 6468, it may target 6451 and 6425.
A 1H or 4H close above 6468 would shift momentum bullish toward 6500 and 6528.
Support: 6452, 6425, 6390
Resistance: 6484, 6500, 6525
Technical analyst focused on gold, indices, and forex.
Providing regular updates with structure, entry/exit clarity, and real-time outlooks.
More at: sroshmayi.com/
Providing regular updates with structure, entry/exit clarity, and real-time outlooks.
More at: sroshmayi.com/
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Technical analyst focused on gold, indices, and forex.
Providing regular updates with structure, entry/exit clarity, and real-time outlooks.
More at: sroshmayi.com/
Providing regular updates with structure, entry/exit clarity, and real-time outlooks.
More at: sroshmayi.com/
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.