Technical analysis by Ivan_Olyanskiy about Symbol SPYX on 5/23/2024

US500 1d 2024-05-22|5307.01 google/gemini-flash-1.5 Based on signals from the indicator CCPR # US500 price movement forecast relative to the dollar Briefly: In the near future, the US500 price is expected to move sideways with little growth potential. Support and resistance levels: * Resistance: 5320, 5350 * Support: 5250, 5200 Signals: * 1d: There is weakness of the seller (BLUEDOT) and the formation of a resistance level (DownOrangeBar). Signal strength is weak. * 4h: Seller weakness signal (BLUEDOT) and formation of resistance level (DownOrangeBar). Signal strength is weak. * 6h: Seller weakness signal (BLUEDOT) and formation of resistance level (DownOrangeBar). Signal strength is weak. * 8h: Seller weakness signal (BLUEDOT) and formation of resistance level (DownOrangeBar). Signal strength is weak. * 10h: Seller weakness signal (BLUEDOT) and formation of resistance level (DownOrangeBar). Signal strength is weak. Conclusion: There are weak downside signals, but they are not strong enough for a confident forecast. In general, sideways price movement prevails at the moment. Probability of movement: * Up: 40% *Down: 40% * Lateral: 20% The best place to enter a position: * Buy: Upon breakdown of the resistance level 5320 with confirmation by strong signals for growth. * Sell: Upon breakdown of the support level of 5250 with confirmation by strong downward signals. Additional factors to watch for: * Economic News: Follow the release of macroeconomic data such as the Consumer Price Index (CPI), Business Purchasing Index (PMI) and employment reports. * Political Situation: Monitor political events that may affect the market, such as elections, trade wars and geopolitical conflicts. * Monetary Policy: Monitor central bank decisions on interest rates and quantitative easing. Data for analysis: *Price: Current price is US500. *Volume: Trading volume US500. * Indicators: Keep an eye on technical indicators such as RSI, MACD and Bollinger Bands. Important: *This forecast is based on analysis of historical data and is not a guarantee of future results. * Investing always involves risk. *Consult your financial advisor before making investment decisions.