Key Levels for SPX & DJIA – Is it Good time to Buy Stocks?

Almost all of the global stock market indices are trading bearish, especially the SPX and Nikkei. The bearish pullback came amid anxieties..


Almost all of the global stock market indices are trading bearish, especially the SPX and Nikkei. The bearish pullback came amid anxieties around soaring bond yields and higher inflation. These were bolstered on Friday when the US jobs report prompted concerns the Federal Reserve will boost rates at a faster pace than anticipated this year. For your info, Fed is expected to rise rate three more times in the year 2018.

Thus, the US equities exhibit noticeable slip on worries that the increase in the cost of borrowing will reduce the profit margins. Therefore, the investors were investing in the dollar-hedged securities such as Gold and Silver.

But now the scenario has bit changed. The stock markets are massively oversold and it’s a very good chance for investors to buy cheaper medicines for a longer term. Here are the levels

Let’s check out the trading levels.

S&P500- SPX- Trading Levels

Support     Resistance

2603.61    2728.83

2558.28    2808.72

2478.39    2854.05

Key Trading Level:    2,683.5

DJIA- Dow30 – Trading Levels

Support     Resistance

23672.91    25269.56

23000.07    26193.37

22076.26    26866.21

Key Trading Level:    24,596.72

ABOUT THE AUTHOR See More
Arslan Butt
Index & Commodity Analyst
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.

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