S&P 500 Eyes New High Amid Fed Rate Cuts

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As Fed Rate Cuts Loom, U.S. Economic Health May Determine Market Trajectory

The performance of stocks, bonds, and the dollar following the Federal Reserve's anticipated rate-cutting cycle could hinge significantly on the health of the U.S. economy.

The Fed is poised to commence a series of rate cuts on Wednesday, having previously raised borrowing costs to their highest levels in nearly two decades. Market expectations, as indicated by LSEG data, point to an approximate 250 basis points of easing by the end of 2025.

S&P 500 Technical Analysis:

The price is nearing its all-time high (ATH) and shows potential to break through and set a new ATH, driven by the impending rate cuts. The S&P 500 is expected to test the 5675 and 5707 levels. Sustained stability above this zone could propel the index to new highs around 5780 and 5820. Conversely, a downside move could be triggered by stability below 5643, targeting the 5584 level.

• Key Levels:
  Pivot Line: 5675
  Resistance Levels: 5707, 5745, 5780
  Support Levels: 5643, 5620, 5585
  
  
• Trend Outlook:
  Consolidation: 5643 - 5707
  Upward Trend: Above 5675
  Downward Trend: Below 5643

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Futures Hold Steady as Investors Await Fed Rate Cut

U.S. stock index futures remained subdued on Wednesday as investors cautiously awaited the Federal Reserve's interest rate cut—the first in over four years. Most traders are now anticipating a half-percentage-point reduction.

S&P 500 Technical Analysis:

The price has pulled back from its all-time high (ATH) as previously indicated. However, today is expected to differ, with the S&P 500 likely to resume its bullish trend and potentially set a new ATH around 5,707 and 5,784 in response to the Fed's decision. The market's key moment, however, will come during the FOMC meeting and Jerome Powell's speech. Should Powell suggest an economic slowdown, it could trigger significant volatility in both directions.

Key Levels to Watch:
Pivot Line: 5,643
Resistance Levels: 5675, 5707, 5784
Support Levels: 5620, 5585, 5525

Trend Outlook:
Bullish Trend: Above 5,643

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Đóng lệnh: đạt mục tiêu

S&P 500

The price has successfully reached our target and marked a new all-time high (ATH).

The bullish trend is expected to continue towards another ATH, provided the price remains above 5,675. A retest down to 5,675 is possible before the upward trend resumes. However, a bearish trend will be confirmed if the price breaks below 5,643.

Key Levels to Watch:
Pivot Line: 5707
Resistance Levels: 5750, 5780, 5805
Support Levels: 5675, 5643, 5621

Trend Outlook:
Bullish Trend: Above 5675 and 5707

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SPx
20. Sep. 2024
UPDATE

The price is still running to get more gains

The bullish trend will continue towards another ATH, provided the price remains above 5708. A retest down to 5,675 is possible before the upward trend resumes. However, a bearish trend will be confirmed if the price breaks below 5675.

Key Levels:
Pivot Line: 5708
Resistance Levels: 5750, 5780, 5805
Support Levels: 5675, 5643, 5621

Trend Outlook:
Bullish Trend: Above 5675 and 5708