S&P 500 Falls 0.7% Amid Investor Uncertainty

S&P 500 Falls 0.7% Amid Investor Uncertainty

The S&P 500 SPX500USD declined by 0.7% on a subdued Thursday as investors adjusted their portfolios amid fluctuating market sentiment. The trading session was marked by an uneasy atmosphere following the release of the Federal Reserve's latest meeting minutes, which indicated that central bankers are not in a hurry to reduce interest rates. This cautious stance from the Fed has been a key factor in supporting the recent upward trend in stocks.


Technically Side:
The price has declined and reached the breakout zone, indicating a potential return to the 5266 level. To continue the bearish trend, the price must break below 5266, confirmed by closing a 4-hour or 1-hour candle under this level. If this occurs, the next targets would be 5226 and 5193.

Conversely, if the price closes above 5282, it would suggest a bullish trend, with the potential to reach 5307 and subsequently 5320.

Pivot Line: 5282
Resistance Levels: 5305, 5325, 5350
Support Levels: 5245, 5227, 5193

Today’s expected trading range is between the support 5192 and the resistance 5320.