USA 500 index declines back below 3,900.00

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Source: Dukascopy Bank SA


Since the last review of the US 500 stock index, the stocks have failed to find support and declined to 3,900.00. The round price level acted as support and caused a minor recovery to the 4,150.00 level and the 200-day simple moving average. In mid-September the higher than expected US inflation data was enough to create a decline, which shortly resulted in the index moving below 3,900.00.

An extension of the ongoing stock decline is expected to look for support in the 3,800.00 and 3,700.00 levels, before it reaches the June low level zone at 3,640.00/3,675.00.
,br> On the other hand, a recovery of the index might find resistance in the 200-day simple moving average near 4,150.00, before the August high level is reached above 4,300.00. Meanwhile, the equities have ignored the support and resistance of the 50-day SMA.
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