S&P 500 Technical Analysis | S&P 500 Trading: 2021-03-05 | IFCM UK
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S&P 500 Technical Analysis - S&P 500 Trading: 2021-03-05

S&P 500 Index Technical Analysis Summary

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Strong SellSellNeutralBuyStrong Buy

Above 3722.7

Buy Stop

Below 3936.8

Stop Loss

Ara Zohrabian
Senior Analytical Expert
Articles 2452
IndicatorSignal
RSI Neutral
MACD Sell
Donchian Channel Neutral
MA(200) Buy
Fractals Sell
Parabolic SAR Sell

S&P 500 Index Chart Analysis

S&P 500 Index Chart Analysis

S&P 500 Index Technical Analysis

On SP500 technical analysis of the price chart in daily timeframe reveals the SP500,Daily is retreating after hitting all time high over three weeks ago, while still above the 200-day moving average MA(200) which is rising yet. We believe the bearish momentum will continue after the price breaches below the lower boundary of Donchian channel at 3722.7. A level below this can be used as an entry point for placing a pending order to sell. The stop loss can be placed above 3936.8. After placing the order, the stop loss is to be moved every day to the next fractal high, following Parabolic signals. Thus, we are changing the expected profit/loss ratio to the breakeven point. If the price meets the stop loss level (3936.8) without reaching the order (3722.7), we recommend cancelling the order: the market has undergone internal changes which were not taken into account

Fundamental Analysis of Indices - S&P 500 Index

US economic activity continued to rise in February. Will the SP500 retreat reverse?

Recent US economic data were positive. Both manufacturing and services sectors continued to expand in February, the number of Americans who filed for unemployment benefits last week were lower than forecast, while US builders increased construction spending in January. Thus, both the ISM manufacturing and services PMIs remained above 55 for February, with manufacturing PMI rising above 60. Readings above 50.0 indicate industry expansion, below indicate contraction. Initial jobless benefit claims increased by 745,000 instead of forecast of 758,000. And construction spending rose 1.7% over month in January after 1.1% rise in December. Strong economic data are bullish for SP500. However technical setup is bearish for SP500.

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This overview has an informative and tutorial character and is published for free. All the data, included in the overview, are received from public sources, recognized as more or less reliable. Moreover, there is no guarantee that the indicated information is full and precise. Overviews are not updated. The whole information in each overview, including opinion, indicators, charts and anything else, is provided only for familiarization purposes and is not financial advice or а recommendation. The whole text and its any part, as well as the charts cannot be considered as an offer to make a deal with any asset. IFC Markets and its employees under any circumstances are not liable for any action taken by someone else during or after reading the overview.

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