Sforex
Long

S&P500: Bounce from key support, gain catalyst from data.

INDEX:SPX   S&P 500 Index
185 0 1
Last week, we saw SPX             rejected 2015 low and bounced aggressively from this key support despite of weak US CPI             data.
It's easy to understand that traders buy stock when it's lying in oversold zone for a long time ( RSI indicator I show on the chart).

This week, market watches carefully on US data to trade US stock market.

Main data:

+ Markit PMI
+ Consumer Confidence
+ FED Meeting.
+ US Durable Good Orders.
+ US GDP

With abundant of data, I think this is an important week for SPX             .

In my opinion, it will be a nice week for stock. The angry bear a least is tamed by strong buy in dip force.

FED likely keeps neutral stance, but US GDP, Consumer Confidence, and Markit PMI would provide catalyst for US equity.

I expect SPX             will test the strong resistance near 1990 this week, and also tests the trend line of RSI indicator.



United States
United Kingdom
India
Deutschland
España
France
Việt Nam
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
Malaysia
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Support Priority Support Report Issue Ideas Published Followers Following Private Messages Chat Sign Out