The Standard & Poor's 500, often abbreviated as the S&P 500, is a popular American stock market index based on the market capitalisations of 500 large companies that have common stock listed on the NYSE or NASDAQ.
The S&P 500's stocks end this week on a higher note – something for you, as a potential investor, to keep a close eye on. What's driving the market? The answer is obvious – trade talks between the U.S. and China in Washington. While Asian markets seem to be finishing mixed, with most indexes modestly lower, and some European stocks drifting lower as well in the view of investor worries over Italian politics, the U.S. markets are moving towards a positive direction.
Let's have a closer look at the current market situation of the S&P 500 index CFD in a brief overview below!
Overview of the S&P 500 Index CFD
The SP500 is generally in an uptrend, and we could see the uptrend continuation. The MACD is above the 0 line, but flat, indicating a bullish consolidation. The POC zone 2707-2708 is a potential bounce spot, so traders should keep an eye on it. If we see a bounce, then the next targets are 2750, 2771, and 2809. We can also see that the previous high has broken, which favours the bullish continuation. Only below 2685 the index will get back into neutral territory and remain range-bound.
Trade the S&P 500 Index with Admiral Markets
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Enjoy your weekend and have a productive week of trading ahead,
Olga & Nenad
This material does not contain, and should not be construed as containing, investment advice or an investment recommendation or, an offer of or solicitation for any transactions in financial instruments. Please note that such trading analysis is not reliable indicator for any current or future performance as circumstances may change over time. Before making any investment decisions, you should seek advice from independent financial advisor to ensure you understand the risks.