S&P 500 (SP500.US500)

Short term

S&P 500 has broken the floor of the rising trend channel in the short term, which indicates a weaker initial rising rate. The index has broken down through support at points 5070. This predicts a further decline. In case of positive reactions, there will now be resistance at points 5070. The short term momentum of the index is strongly negative, with RSI below 30. This indicates increasing pessimism among investors and further decline for S&P 500. However, particularly in big stocks, low RSI may be a sign that the stock is oversold and that there is a chance for a reaction upwards. The RSI curve shows a falling trend, which could be an early signal of the start of a falling trend for the price as well. The index is overall assessed as technically negative for the short term.

Recommendation one to six weeks: Negative (Score: -54)

Medium term

S&P 500 has broken the floor of the rising trend channel in the medium long term, which indicates a weaker initial rising rate. The index has broken a support level in the short term and given a negative signal for the short term trading range. The index has support at points 4600 and resistance at points 5250. The RSI curve shows a falling trend, which could be an early signal of the start of a falling trend for the price as well. The index is overall assessed as technically neutral for the medium long term.

Recommendation one to six months: Hold (Score: 21)

Long term

Investors have paid higher prices over time to buy S&P 500 and the index is in a rising trend channel in the long term. This signals increasing optimism among investors and indicates continued rise. The index is approaching support at 4800 points, which may give a positive reaction. However, a break downwards through 4800 points will be a negative signal. The index is assessed as technically positive for the long term.

Recommendation one to six quarters: Positive (Score: 65)