This article presents a technical overview of the S&P 500, where we analyze its current price dynamics and identify key levels that could serve as either support or resistance in the coming trading sessions.
We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.Oct 1, 20232023-09-30 14:00:42Commodities Update: As of 18:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: -0...The U.S. dollar, as measured by the DXY index, soared on Monday, blasting past 106.80 and hitting its highest level since November 2022, boosted by soaring U.S.
The news of the U.S. government averting a shutdown following a last-minute deal in Congress over the weekend, coupled with better-than-expected U.S. manufacturing data, led investors to infer that interest rates are likely to stay elevated for an extended period, establishing a favorable environment for the U.S. dollar and a negative backdrop for stocks., casting a shadow over risk assets.
On the flip side, if the S&P 500 finds stability and regains its footing, buying interest could begin to gather pace, leading to an upward journey towards 4,370. While this area might present resistance, a breakout has to potential to pushtowards 4,435, followed by 4,500. However, with US yields at multi-year highs, the path of least resistance may be lower going forward.
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