S&P 500 Weekly Analysis 14 February 2017

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CHARTING

The crucial points are:

1

The price of S&P 500 Index has fiercely breached the 2300 level of resistance in the previous sessions and since then, it hasn’t stopped rising and making new highs. However, there are suggestions from many analysts that this isn’t a rational behaviour, based on the fundamental aspect. Although, the stock market is possible to continue rising, the sell-off in bonds and treasuries is not finished.

Charting outcome: Marginally bullish – Neutral  

INDICATORS (computerized T.A)

The crucial points are:

2

3

 

The indicators are not providing a clear message about what direction the trend may follow. The moving averages have almost kept the same slopes, while the spread between the positive and the negative dynamic has widened. The trend dynamic has risen by +52.25%, whilst the market’s volatility has marginally fallen by -2.42%. Finally, the oscillators have passed into heavily overbought levels.

Indicators outcome: marginally bullish – Neutral

CONCLUSION

Indicators and charting are agreeing that the market is likely to continue moving on a Marginally bullish or neutral path. If the price continues to rise, the next resistance is possible to occur at 2350 level. On the contrary, if the price breaks lower than 2300 level, the next support is possible to be the 2270 level.

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