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Trading Roundup: S&P500 Index – Could Be a Good Time to Buy

May 18, 2018 18:57

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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!

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Overview of the S&P 500 Index CFD

Source: SP500, Admiral Markets MT5, MT5SE add-on, H4 chart, May 2018

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

With Admiral Markets, you can trade an extensive range of CFDs and ETFs, from common Forex currency pairs to CFDs on indices and shares. Having access to a universe of financial instruments, you also get one of the best trading terms and volatility protection settings in the market.

To try the system out for yourself or practise your trading skills, we welcome you to open our Demo account. It is not only risk-free, but also as easy to open as 1-2-3. Moreover, Admiral Markets is always there to offer you fast support should you have any questions or concerns.

Enjoy your weekend and have a productive week of trading ahead,

Olga & Nenad

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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.

Risk Warning

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 84% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.