S&P 500 Futures Rise on Rate-Cut Hopes; Meta Surges

Aug 1

S&P 500 Futures Rise as Rate-Cut Hopes Prevail; Meta Surges

The S&P 500 has reached its resistance line. As long as the price remains below 5,549, it will continue to trade within a bearish trend.

Bullish Scenario:
For a shift to a bullish trend, the price needs to stabilize above 5,549, potentially reaching 5,584.

Bearish Scenario:
If trading continues below 5,549, the price is expected to drop to 5,512 and possibly 5,491.

Key Levels:
- Pivot Line: 5,549
- Resistance Levels: 5,584, 5,620, 5,639
- Support Levels: 5,512, 5,460, 5,438

Today's Expected Trading Range:
The price is anticipated to fluctuate between the resistance at 5,584 and the support at 5,491.

As the prospect of rate cuts gains traction, investors are assessing whether the central bank can ease policy at a pace that achieves the much-anticipated "soft landing" for the economy.


previous idea:

Aug 1

Trade closed: target reached

Hit the target which is about $55 ✅

so now will move between 5491 and 5549 till breaking

Aug 4

Note