.png)
· S&P500 Technical Analysis: Bulls looking for a breakout above 2,940.00 all-time high
The S&P500 is in a strong bull trend.
The S&P500 is in a sideways consolidation above the 50, 100 and 200-period simple moving averages while the RSI, MACD and Stochastics indicators remain constructive for further gains.
Resistances are to be expected near 2,939.50 (all-time high) and 2,950.00 while support can be expected near 2,900.00 figure and 2,877.00 (January swing high)
Main trend: Bullish
Resistance: 2,939.50, 2950.00, 3000.00
.png)
· Shares in Europe open higher on Wednesday, as markets players keep an eye on Italian politics and spending plans.
The pan-European Stoxx 600 was 0.3 percent higher with almost every sector in positive territory. In Italy, FTSE MIB, the main index, jumped 1.2 percent in early deals.
.png)
· Asian shares slipped on Wednesday as oil prices near four-year highs threatened to roil emerging economies, while the euro rebounded from six-week lows on reports Italy will reduce its budget deficit more quickly than expected.
MSCI’s broadest index of Asia-Pacific shares outside Japan slipped 0.2 percent with Hong Kong’s Hang Seng index down 0.4 percent.
· Japanese stocks fell on Wednesday as automakers skidded on a sharp decline in U.S. new car sales last month while other shares, including financials, retreated after a rally over recent weeks.
The Nikkei share average gave up 0.7 percent to 24,110.96, though it was still holding at 27-year highs.
The weak yen trend paused as the Japanese currency attracted safety bids amid concerns over Italy’s budget plan.
Thai
Eng