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S&P 500 Technical Analysis - S&P 500 Trading: 2021-09-23
S&P 500 Index Technical Analysis Summary
Above 4416.03
Buy Stop
Below 4331.36
Stop Loss
| Indicator | Signal |
| RSI | Neutral |
| MACD | Buy |
| Donchian Channel | Neutral |
| Fractals | Buy |
| Parabolic SAR | Buy |
| MA(200) | Sell |
S&P 500 Index Chart Analysis
S&P 500 Index Technical Analysis
The technical analysis of the SP500 price chart in the 4-hour timeframe shows SP500,H4 is rebounding from 2-month low it hit couple of days ago and is rising toward the 200-period moving average MA(200). We believe the bullish momentum will continue after the price breaches above the upper boundary of Donchian channel at 4416.03. A level above this can be used as an entry point for placing a pending order to buy. The stop loss can be placed below 4331.36. After placing the order, the stop loss is to be moved every day to the next fractal low indicator , following Parabolic signals. Thus, we are changing the expected profit/loss ratio to the breakeven point. If the price meets the stop loss level (4331.36) without reaching the order (4416.03), 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
Federal Reserve’s statement said US economy has made “progress” toward maximum employment and price stability despite Delta variant. Will the SP500 price rebound continue?
Federal Reserve kept the key borrowing benchmark rate at 0-0.25 percent while signaling it’s about to reduce its $120 billion monthly bond purchases. The decision was not unexpected in light of the fact the US gross domestic product – GDP has already surpassed pre-outbreak levels. The quarterly interest rate projections showed that half of Fed officials - 9 out of 18 preferred to hike interest rates in 2022, versus just seven in June. And the inflation projections showed officials see their preferred measure of price gains rising 4.2 percent in 2021 — up from their previous June projection of 3.4 percent. At the same time, policymakers upgraded their GDP projections for 2022 and 2023 while downgrading their growth expectations for 2021 -5.9% versus 7% in June. Expectations of further recovery of US economy are bullish for SP500 price.
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