HotForex - Analytics

    HotForex

    485.50 8.50/10
    61% of positive reviews
    Real

    BRAND MARKET ANALYSIS AND NEWS USA500 update, A Break above 1890 Could Restart Uptrend Market News

    USA500 (S&P500), Daily

    Recent U.S. reports defied the global financial panic, with retail sales through January that imply solid “real” spending growth. The Global fear of an economic downturn despite heavy commodity price declines and continued export price weakness is apparently not translating to weaker U.S. growth.

    Technically, the S&P 500 (USA500) could reverse the recent global stock market sell-off providing we see a clean upward penetration of my 3rd fan line (see above chart). Resistance is spotted around the 1890.00 area. Additionally, a breakaway gap is spotted during the most recent trading day. My initial target zone is between the 50% – 61.8% (December high – January low retracement). My conclusion for the USA500 supports long positions above 1890 for targets within the 1948.00 – 2000.00 zone.

    Feb 15 sp500 srl v5

    Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE! The next webinar will start in:

    John Knobel 

    Senior Currency Strategist

    HotForex

    Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.


    To leave a comment you must or Join us


    By visiting our website and services, you agree to the conditions of use of cookies. Learn more
    I agree