US500 is up from the previous session. Despite recent volatility, the index is up more than 0.30% over the past month and more than 13% yoy.
The index hit an all-time high above 6,400 earlier in August but has since seen some pullback, reflecting a “market wobble” as traders anticipate signals from Fed Chair Powell at the Jackson Hole Symposium.
Fundamental Analysis
Short-term price action has been mixed. Tech and chip stocks have weighed on performance, while a rotation into defensive and healthcare sectors has helped cushion declines.
Recent earnings misses by major retailers, including Walmart have stoked concerns about consumer resilience amidst ongoing higher tariffs and uneven spending patterns.
Despite near term caution, the index remains resilient with buyers coming in at lower levels and support levels seen around 6,300 and 6,150. Pullbacks are viewed as likely to be short lived unless new external shocks arise.
Technical Analysis
If the index breaks above resistance near 6,406, a push toward 6,500 and 6,650 is possible.
Bearish Risk: A breakdown below the 6,300 - 6,150 region could trigger a pullback toward 6,075 or lower, but this remains a scenario barring a major negative shock.
Overall US 500 remains resilient despite intermittent corrections and sector rotations. The outlook is broadly positive, especially if Fed signals from Jackson Hole remain supportive and corporate earnings stay resilient
Analysis by Terence Hove, Senior Financial Markets Strategist at Exness
The index hit an all-time high above 6,400 earlier in August but has since seen some pullback, reflecting a “market wobble” as traders anticipate signals from Fed Chair Powell at the Jackson Hole Symposium.
Fundamental Analysis
Short-term price action has been mixed. Tech and chip stocks have weighed on performance, while a rotation into defensive and healthcare sectors has helped cushion declines.
Recent earnings misses by major retailers, including Walmart have stoked concerns about consumer resilience amidst ongoing higher tariffs and uneven spending patterns.
Despite near term caution, the index remains resilient with buyers coming in at lower levels and support levels seen around 6,300 and 6,150. Pullbacks are viewed as likely to be short lived unless new external shocks arise.
Technical Analysis
If the index breaks above resistance near 6,406, a push toward 6,500 and 6,650 is possible.
Bearish Risk: A breakdown below the 6,300 - 6,150 region could trigger a pullback toward 6,075 or lower, but this remains a scenario barring a major negative shock.
Overall US 500 remains resilient despite intermittent corrections and sector rotations. The outlook is broadly positive, especially if Fed signals from Jackson Hole remain supportive and corporate earnings stay resilient
Analysis by Terence Hove, Senior Financial Markets Strategist at Exness
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.