Jump to content
Meta down 17%... are investors tiring of AI? ×

S&P 500 Price Update: US Equities Sell-off Ahead of Jackson hole, PCE Data

MongiIG

By MongiIG,
in Indices and Macro Events

Recommended Posts

MongiIG Honoured Contributor

MongiIG

Posted
Posted

This Wall Street firm is sticking to its S&P 500 price target. Here's why it says a correction is overdue. - MarketWatch

Aug 22, 2022 | DailyFX
Richard Snow, Analyst

S&P 500 (SPX) NEWS AND ANALYSIS

  • The S&P 500 E-Mini Futures trade lower ahead of the US open
  • Dollar strength and a determined Fed weigh on risk appetite
  • Jackson Hole (pseudo Fed meeting) and PCE data likely to attract attention

S&P 500 CONTINUES LOWER AFTER USD REJUVENATION

At the start of the week we have seen some risk aversion as German and US equity indices turn lower, continuing the decline from last week. After breaking above the rising pitchfork, the S&P 500 met some stern resistance ahead of the zone of resistance (circled in red) – which includes the descending trendline and the 61.8% Fib retracement of the 2022 move at 4361.50.

After showing signs of bullish exhaustion, equities sold off as prominent members of the Fed (Bullard, Daly, George, Kashkari) reaffirmed their appetite for continued rate hikes.

Link to comment

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Go to topic listing

  • image.png

  • Posts

    • tradinglounge
      ChainLink Crypto Price News Today Elliott Wave Technical Analysis

      By tradinglounge · Posted

      Elliott Wave Analysis TradingLounge Daily Chart ChainLink/ U.S. dollar(LINKUSD) LINKUSD Elliott Wave Technical Analysis Function: Counter Trend Mode: Corrective Structure: Zigzag Position: Wave C Direction Next higher Degrees: Wave (I) of Impulse Wave Cancel invalid Level: 8.498 Details: the corrective of Wave (II) is equal to 61.8% of Wave (I) at 8.702 Log scale chart ChainLink/ U.S. dollar(LINKUSD)Trading Strategy: The second wave correction is likely to go down to test the 10.585 level before rising again in the third wave. Therefore, the overall picture is a short-term pullback to continue rising. Wait for the correction to complete to rejoin the trend. ChainLink/ U.S. dollar(LINKUSD)Technical Indicators: The price is above the MA200 indicating a Downtrend, The Wave Oscillator is a Bearish Momentum. Elliott Wave Analysis TradingLounge H4 Chart ChainLink/ U.S. dollar(LINKUSD) LINKUSD Elliott Wave Technical Analysis Function: Follow Trend Mode: Motive Structure: Impulse Position: Wave 5 Direction Next higher Degrees: Wave ((C)) of Zigzag Wave Cancel invalid Level: 81.238 Details: The Five-Wave Decline of Wave ((C)) trend to test 11.582 Level ChainLink/ U.S. dollar(LINKUSD)Trading Strategy: The second wave correction is likely to go down to test the 10.585 level before rising again in the third wave. Therefore, the overall picture is a short-term pullback to continue rising. Wait for the correction to complete to rejoin the trend. ChainLink/ U.S. dollar(LINKUSD)Technical Indicators: The price is above the MA200 indicating a Downtrend, The Wave Oscillator is a Bearish Momentum. Technical Analyst : Kittiampon Somboonsod Source : Tradinglounge.com get trial here!      
    • Imam
      Cardano Crypto Price News Today Elliott Wave Technical Analysis 

      By Imam · Posted

      Okay, I'll grab the ultimate sloth at a lower price😑😑
    • Imam
      CatGPT: More Than Just a Meme Coin with Claws to Show

      By Imam · Posted

      Opportunity to grab the gem at lower...

Markets

Forex

Indices

Shares

Other markets

IG services

Spread betting

CFD trading

Share dealing

Trading platforms

Web platform

Trading apps

Advanced platforms

Compare features

About Us

How we support you

What we do with your money

How does IG make money?

Professional trading

Contact us

Post topic on Community

Browse Help and Support

Education on Academy

Tweet us @IGClientHelp

UK

IG | Sitemap | Terms and agreements | Privacy | How to fund | Cookies | About IG

Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money. Professional clients can lose more than they deposit. All trading involves risk.

The value of shares, ETFs and ETCs bought through a share dealing account, a stocks and shares ISA or a SIPP can fall as well as rise, which could mean getting back less than you originally put in. Past performance is no guarantee of future results.

CFD accounts provided by IG Markets Ltd, spread betting provided by IG Index Ltd and share dealing and stocks and shares ISA accounts provided by IG Trading and Investments Ltd. IG is a trading name of IG Markets Ltd (a company registered in England and Wales under number 04008957), IG Index Ltd (a company registered in England and Wales under number 01190902) and IG Trading and Investments Ltd (a company registered in England and Wales under number 11628764). Registered address at Cannon Bridge House, 25 Dowgate Hill, London EC4R 2YA. IG Markets Ltd (Register number 195355), IG Index Ltd (Register number 114059) and IG Trading and Investments Ltd (Register number 944492) are authorised and regulated by the Financial Conduct Authority.

The information on this site is not directed at residents of the United States, Belgium or any particular country outside the UK and is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

© 2003 - 2020

IG | Terms and agreements (UK) | Privacy (UK) | Cookies | Investors | Careers | Marketing partnership

×
×
  • Create New...
us