Investment Recommendations May 9th
S&P 500: Short-Term Sell (Update)
S&P 500 Futures, 4-Hour Chart Analysis
The index is trading below its post-election highs today, as it remains week compared to the leading European and Japanese benchmarks. The sell recommendation remains intact with the stop loss still just above the 2410 level. Volatility remains low, and further sideways price action is possible before the next major move.
Short-term support is found near 2375, with further levels below that at 2350 and 2332. The rising short-term trend-line is currently at 2380, while the MACD indicator is in neutral territory, showing a clear negative divergence.