Wall Street Gains on Easing Rates; S&P 500 Key Levels &Scenarios

Nov 25, 2024

Interest Rates and Economic Reports Boost Wall Street Futures; Asia and Europe Higher

Wall Street futures edged higher in pre-market trading on Monday, supported by easing interest rates and a focus on key economic reports scheduled for the week. While the earnings calendar remains light, the market's attention is shifting toward fundamental economic data, shaping investor sentiment.

S&P 500 Technical Analysis

The price will try to touch 6022 and then will drop to touch 5970 if it can stabilize below 6022.

Bullish Scenario: A decisive breakout above 6022, confirmed by a 4-hour candle close, would signal bullish momentum, with potential targets at 6068.

Bearish Scenario: Sustained trading below 5970 could pave the way for further downside targets at 5932 and 5896.

Key Levels:
Pivot Point: 5998
Resistance Levels: 6022, 6068
Support Levels: 5972, 5932, 5896

Nov 26, 2024

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According to Citi's positioning model, risk appetite returned to U.S. markets in the latest week, with S&P 500 positioning levels back at record highs, but that leaves markets vulnerable if sentiment were to shift.

🕯S&P 500 Technical Analysis

The price dropped and reached it's support we mentioned it was 5970, and now is still consolidate between 5970 and 6022.

➡️Bullish Scenario: A decisive breakout above 6022, confirmed by a 4-hour candle close, would signal bullish momentum, with potential targets at 6068.

➡️Bearish Scenario: Sustained trading below 5970 could pave the way for further downside targets at 5932 and 5896.

🟢Key Levels:
Pivot Point: 6005
Resistance Levels: 6022, 6068
Support Levels: 5970, 5932, 5896