s&p bear market

S&P 500 Continues to Decline, Looks for Consolidation

The Index S&P 500 continues to decline. The instrument has reached the support level of 2882.8, and after the consolidation below it, the next target will be the level of 2817.5.

s&p bear market

The markets are under pressure by the WTO decision to allow the United States to introduce taxes on European goods. The US agency has officially confirmed its intention to introduce a number of trade duties: 10% for airplanes and 25% for agricultural products. As for the EU, some officials noted that Brussels cannot take retaliatory measures against WTO sanctions. The Airbus, against which duties were introduced, noted that this could be a blow to the aerospace industry, as 40% of purchases were made by American companies. The second factor, which also had a negative impact on the US stock market, was poor ADP data. The indicator reached only 135K people against the forecast of 140K.

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Today, data on production orders, as well as an index of business activity in the service sector will be published.

S&P 500 Moving Averages
Exponential Moving Average (5)2917.2Sell
Simple Moving Average (5)2926.3Sell
Exponential Moving Average (10)2938.6Sell
Simple Moving Average (10)2948.4Sell
Exponential Moving Average (20)2956.7Sell
Simple Moving Average (20)2968.4Sell
Exponential Moving Average (30)2961.6Sell
Simple Moving Average (30)2980.3Sell
Exponential Moving Average (50)2960.3Sell
Simple Moving Average (50)2967.4Sell
Exponential Moving Average (100)2950.3Sell
Simple Moving Average (100)2945.7Sell
Exponential Moving Average (200)2924.3Sell
Simple Moving Average (200)2924.6Sell
Ichimoku Cloud Base Line (9, 26, 52, 26)2948.5Neutral
Volume Weighted Moving Average (20)
Hull Moving Average (9)2894.4Sell
S&P 500 Oscillators
Relative Strength Index (14)29.0Neutral
Stochastic %K (14, 3, 3)6.3Neutral
Commodity Channel Index (20)−221.6Buy
Average Directional Index (14)29.7Neutral
Awesome Oscillator−46.1Sell
Momentum (10)−97.2Buy
MACD Level (12, 26)−16.5Sell
Stochastic RSI Fast (3, 3, 14, 14)1.7Neutral
Williams Percent Range (14)−90.5Buy
Bull Bear Power−116.1Neutral
Ultimate Oscillator (7, 14, 28)31.7Neutral

Support and resistance


Stochastic is at the level of 35 and does not give signals for opening trade positions.

Resistance levels: 2920.0, 2942.6.

Support levels: 2882.8, 2843.5.

2019 YTD “Worst performing” Stocks in S&P 500:

Baidu Inc. (BIDU) (-35%)

Kraft Heinz Co. (KHC) (-32%)

Mylan NV (MYL) (-28%)

Tesla (TSLA) (-28%)

Regeneron Pharmaceuticals Inc. (REGN) (-26%)

Biogen (BIIB) (-23%)

BioMarin Pharmaceutical Inc. (BMRN) (-21%)

Walgreens Boots Alliance Inc. (WBA) (-17%)

American Airlines Group Inc. (AAL) (-15%)

US Treasuries Move Higher

US Treasuries moved higher during the afternoon session on Thursday before the country’s initial weekly claims, without schedule to be released today at 12: 30GMT, except for non-manufacturing ISM for September, which is due today by 14: 00GMT.

In addition, speeches by members of the Federal Open Market Committee (FOMC), namely, Quarles, Mester and Clarida, to be delivered later in the day, will provide additional guidance on the debt market.

The result of the 10-year benchmark Treasury return suffered 2 basis points to 1.577 per cent, the excellent 30-year bond yield lost almost 2.01 / 2 basis points to 2.066 per cent and the result for the short-term 2 years also fell 2 basis points to 1.464 below. first about 12: 10GMT.

Due to the weakness in Tuesday’s manufacturing figures, today’s non-manufacturing ISM is likely to be considered closely for signs of loss of momentum in the sector at the end of the third quarter, Daiwa Capital Markets reported.

Today will give factory orders figures for August, which challenges Challenger for September and the weekly jobless claim numbers. For Fed-talk, FOMC members, Clarida, Evans and Quarles, are voting, as well as non-voting members, Kaplan and Mester, in action.

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