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Trading US500 / S&P 500 Index

  • Writer: Lester Davids
    Lester Davids
  • 12 minutes ago
  • 1 min read

Trade Local & Global Markets with Unum Capital.

To get started, email lester@unum.co.za




 

Previous Post (09 April): Trading US500 / S&P 500 Index

Technical Backdrop: (1) Bearish trend with strong selling pressure (2)Trading below it's 200-day SMA (3) Has, in recent days, traded 20% off it's all-time highs. (4) Poor candle structure, but with some buying interest as denoted by the long lower tails. (5) Approaching the 200-week SMA for the first time since October 2022. The 200-week SMA is likely to be a key level of interest for long term buyers. Note that the 200-week SMA is also in line with the previous breakout level seen in December 2023. Upon a rally, the best probability resistance range is 5285 to 5385 (subject to change).


S&P 500 Daily Chart as of Wednesday 09 April at 16h07 (South African Time / U.S. Trading Session)
S&P 500 Daily Chart as of Wednesday 09 April at 16h07 (South African Time / U.S. Trading Session)


 

Previous Post (Sunday 06 April): Helping Clients Manage Risk


On Monday 05 December, our clients were alerted to the risk of a medium term pullback in the S&P 500 Index. Over $5 trillion of market value has since been lost.


To open a trading account and/or move from your existing service provider, email tradingdesk@unum.co.za  



Updated Chart as of Monday 07 April at 08h54


 

Previous Post Thursday 05 December 2024 (Time: 21h49) S&P 500: Risk of a Medium Term Retracement. Link to original note: https://www.unum.capital/post/s-p-500-index-retracement-risk




Lester Davids

Analyst: Unum Capital

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