S&P 500 Consolidates as Investors Await Key Inflation Report
U.S. stock index futures slipped on Friday as investors remained cautious ahead of a crucial inflation report, which could influence expectations regarding the size of upcoming Federal Reserve interest rate cuts.
The S&P 500 has reversed from its all-time high (ATH) and reached the support level of 5,732. The price is expected to consolidate between 5,784 and 5,732 until a breakout occurs. A bullish trend would resume with a break above 5,784, targeting a new ATH at 5,890. Conversely, a break below 5,732 would confirm a bearish trend towards 5,675.
Key Levels:
Pivot Point: 5732
Resistance Levels: 5784, 5805, 5890
Support Levels: 5675, 5643, 5585
Trend Outlook:
- Bearish: Below 5732
- Bullish: Above 5784
The S&P 500 has reversed from its all-time high (ATH) and reached the support level of 5,732. The price is expected to consolidate between 5,784 and 5,732 until a breakout occurs. A bullish trend would resume with a break above 5,784, targeting a new ATH at 5,890. Conversely, a break below 5,732 would confirm a bearish trend towards 5,675.
Key Levels:
Pivot Point: 5732
Resistance Levels: 5784, 5805, 5890
Support Levels: 5675, 5643, 5585
Trend Outlook:
- Bearish: Below 5732
- Bullish: Above 5784
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