S&P 500 neutral

Descending triangle of the S&P 500 index

17 march 2022 87
Elena_Berseneva
Elena_Berseneva

Listed among the best MarketCheese authors
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It is considered that in anticipation of the FOMC monetary policy meetings, namely 24 hours before, US indices and stocks are growing.


Indeed, a day before yesterday's meetings of the US Federal Reserve Open Market Committee, the S&P 500 index has risen by almost 2%.



And by the end of the day, the index has approached the downtrend line that emerged in early 2022.


Technically, the further direction of movement will depend on the opposition of the downtrend and the support level of 4300.


If the trend continues, the index will break the level of 4300 down and head to the next support of 4150. Otherwise, growth to the 4400 and 4500 levels is possible.

Elena_Berseneva
Elena_Berseneva

Listed among the best MarketCheese authors
1st in the segments "Currencies", "US stocks", "Metals" and "Oil and gas"
2nd in the segments "Indices" and "Crypto"
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