S&P 500 Weekly Analysis 15 March #2017

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CHARTING

The crucial points are:

1

he price of S&P 500 index, in the last sessions is fluctuating within a tight range of 2358.93 level of support to 2384.85 level of resistance. However, its noticeable that the price has unsuccessfully attempted several times to break lower than 2358.93 level of support, until now. Moreover, the breaching of the rising trendline won’t be an easy task for bears.

Charting outcome: Neutral – Marginally bullish

INDICATORS (computerized T.A)

The crucial points are:

2

3

The indicators are signaling that a downtrend has occurred, which is possible to become weaker. The moving averages slopes have become marginally positive, while the balance between the negative and the positive dynamic has negatively changed. The trend dynamic has fallen by -35.69%, whilst the market’s volatility has slightly risen by +0.40%. The oscillators have remained in marginally overbought levels.

Indicators outcome: Neutral – Marginally bearish   

CONCLUSION

Indicators and charting are agreeing that the market is likely to continue moving on a neutral path. If the price appreciates higher than 2384.85 level, the next resistance is possible to occur at 2401.40 level. On the contrary, if the price breaks lower than 2358.93 level, the next support is possible to be the 2338.53 level.

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