S&P 500 Weekly Analysis 05 April 2017

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CHARTING

The crucial points are:

1

S&P 500 index moved sideways in last days, but within a wider range than previously, from 2334.33 level of support to 2372.86 level of resistance. One possible reason, is the uncertainty surfacing regarding President Trump’s administration. The administration is looking to convince the House of Republicans to agree on a new health care bill, however the House of Republicans has not warmed to the replacement of Obamacare with a new health care system.

Charting outcome: Neutral 

INDICATORS (computerized T.A)

The crucial points are:

2

3

The indicators are not providing a clear message about which direction the trend is likely to follow. The moving averages slopes have almost remained the same, while the spread between the negative and the positive dynamic has tightened. The trend dynamic has fallen by -24.57%, whilst the market’s volatility has marginally risen by +0.76%. Finally, the oscillators have become marginally oversold.

Indicators outcome: Neutral – Marginally bearish     

CONCLUSION

Indicators and charting are agreeing that the market is likely to continue moving on a neutral path. However, indicators suggest the marginally bearish path as well. If the price breaks lower than 2336.23 level, the next support is possible to be the 2316.43 level. On the contrary, if the price appreciates higher than 2372.86 level, the next resistance is possible to occur at the 2394.65 level.

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