The S&P500 ended the day virtually unchanged above the 200-day simple moving average.
Bulls managed to recover losses made earlier in the day suggesting that further advances can be on the cards. The RSI, MACD and Stochastic indicators are slowly recovering from oversold conditions suggesting potential bullish momentum.
Resistance to the upside are seen near 2,834.25 (current October 10 low) and 2,853.00 (August 9 low).
Main trend: Bullish
Resistance: 2834.25, 2853.00, 2863.75
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The pan-European Stoxx 600 was flat with the various sectors taking different directions.
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• China’s benchmark stock index skidded to four-year lows and dragged Asian equities down on Thursday, as renewed fears of a broadening economic impact from an escalating Sino-U.S. trade conflict sapped confidence.
MSCI broadest index of Asia-Pacific shares outside Japan fell 0.5 percent.
China’s benchmark Shanghai Composite Index shed as much as 2.2 percent to hit its lowest level in four years, while the blue-chip CSI 300 index dropped as much as 1.8 percent, not far from its more than two-year low marked previous day.
• Japan’s Nikkei fell on Thursday, as hawkish minutes from the U.S. Federal Reserve’s last policy meeting knocked global sentiment and a surprise decline in exports hit machinery makers.
The Nikkei share average ended 0.8 percent lower at 22,658.16.
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