S&P 500, FTSE 100 analysis and news
- S&P 500 | Avoid withdrawing in the middle of the month
- FTSE 100 | Risks are targeted at 7,000 breakthroughs
S&P 500 | Avoid withdrawing in the middle of the month
A slightly softer week for the S&P 500, which is still at 4,500. The index appears to be ending early in the week, then interrupting four consecutive sessions of the S&P 500, which boosted market participants who speculated about a possible correction. Although, despite recent speculation, the index is only 0.9% behind the all-time high.
Looking next week, perhaps the focus will be on the expiration of the monthly option, as the recent pattern has emerged year-round, with the S&P 500 experiencing a reversal on the third Friday of the month, as the chart below highlights. In the economic calendar, the US consumer price index is attracting attention, and when growth has peaked, higher consumer prices will no doubt ring stagflation bells, although ISM Mfg. Ja Non-Mfg. prices paid data are sliding, risks are biased to the negative side.
In terms of levels to look out for, there is arguably a setback of sand 50DMA that has consistently seen buyers enter the fight.
Another mid-month sales round for the S&P 500?
FTSE 100 Risks are targeted at 7,000 breakthroughs
Again, the FTSE 100 trades in the well-defined range of 7000-7200 and perhaps summarizes this market right now for how volatile it can be. It also gives a reminder not to marry the view and remain agar. However, there seems to be little interest in raising the FTSE above 7200, and so I see risks that are more downward than the psychological 7000 level gives in to. First, following the latest decision to increase public insurance premiums, the UK government is tightening the budget. Although the BoE has slightly increased speculation with rising interest rates since Bailey announced that the committee had disagreed on terms interest rate hike being met.
FTSE 100 price chart: daily schedule
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