SPX & DJIA Levels – FOMC In Focus

The global indices are under substantial selling pressure as the investors are considering the Risk-off sentiment. In the last two weeks, the global stock market investors seem skeptical about buying. We summarized the outlook for US investments in our previous update on SPX and DAX. The overbought indices seem to progress further down in order to complete 38.2% Fibonacci retracement at $2,550.

We have a complex scenario on our hands this week. We are unable to confirm the bullish reversals until we hear from Trump and the Federal Reserve regarding the next spike in the rate. Meanwhile, the global indices seem to consolidate with the help of the support from the resistance levels. If you are following our updates for the first time, check out FX Leaders Support and Resistance Trading Strategy to get a better understanding of the market.

S&P500 – SPX – Trading Levels

Support     Resistance

2550.41    2726.67

2495.97    2781.11

2407.84    2869.24

Key Trading Level:    2638.54

DJIA – Dow30 – Trading Levels

Support     Resistance

23532.03    25182.45

23022.21    25692.27

22197          26517.48

Key Trading Level:    24357.24

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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