S&P500: Blueprints 2
Actualizado
The S&P500 ended its third bearish streak, last Friday. The Bearish market sent the S&P500 to the 2021.3 level down from 2102.63. Although American reports are beating estimates, in general, they were not able to lift the gauge up or to prevent it from falling, as it remains very sensitive to macroeconomic news coming from China. It seems that investors are changing their positions and reviewing their calculations as an increase in the Federal Reserve Interest rates is becoming a prominent scenario.
Currently, the trend remains bearish unless the benchmark gives clear signs that an inversion may occur. It is currently hanging on its 2021.3 support level, which breaking out will send it south towards 1993.34, with 2008.2 as a primary objective. The gauge should find support around 1993.34, as it is critical level.
The benchmark will have 2031.79 as a resistance, which breaking out will send it visiting 2044.89.
The daily Pivot Point is around 2029.9. The daily support levels are around 2015.16 and 2007.28. The daily resistance levels are around 2037.78 and 2052.52
Currently, the trend remains bearish unless the benchmark gives clear signs that an inversion may occur. It is currently hanging on its 2021.3 support level, which breaking out will send it south towards 1993.34, with 2008.2 as a primary objective. The gauge should find support around 1993.34, as it is critical level.
The benchmark will have 2031.79 as a resistance, which breaking out will send it visiting 2044.89.
The daily Pivot Point is around 2029.9. The daily support levels are around 2015.16 and 2007.28. The daily resistance levels are around 2037.78 and 2052.52
Nota
The rally will continue as long as 2031.79 is a support level, with 2079.84 as an objective. The benchmark still has the chance to prevent the EMA10 form converging south, should it close tomorrow in the green. The daily Pivot Point is around 2041.93. The daily support levels are around 2030.64 and 2008.10. The daily resistance levels are around 2064.47 and 2075.76.
Nota
The S&P500 may re-visit 2031.79, should it breakout 2045.90. The breakout of the 2031.79 support level will send it to seek 2021.3. The rally will remain valid, should the benchmark open in a bullish gap. As a breakout of 2066.69 will send it to seek 2079.84 as the beginning of a rally towards 2100.81.
The daily Pivot Point is around 2054.32. The daily support levels are around 2042.01 and 2033.59. The daily resistance levels are around 2062.74 and 2075.05.
Nota
The S&P500 is faltering ahead of the ECB's conference in Frankfurt. TThe trend remains bullish as long as 2031.79 is a support level. The breakout 2086.73 will send it seeking 2100.81. The breakout of 2078.76 will send it back to 2066.9, which breaking out will send it seeking lower lows around 2054.5.
The daily Pivot Point is around 2082.26. The daily support levels are around 2077.78 and 2074.28. The daily resistance levels are around 2085.76 and 2090.24.
Nota
The S&P500 has been consolidating for the past two sessions that followed the FOMC meeting. An opening tomorrow with a bullish gap will enhance the chances that the benchmark would breakout 2097.06, which will send it towards last month's high, around 2116.48Failing to do so will send it south to around 2066.69. The trend remains bullish as long as 2031.79 is a support level.
The daily Pivot Point is around 2889.68. The daily support levels are around 2082.30 and 2075.44. The daily resistance levels are around 2096.54 and 2103.92.
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