The US stock market indices finally took a breather after the friendly remarks from Chinese President Xi Jinping. He would open the country’s economy and reduce import tariffs on automobiles. The positive remarks from the world’s second largest economy reduced the level of fears in the market which helped stocks trade in the green.

Today, the focus of investors remains on the US Inflation and FOMC. For your information, inflation figures help determine the future policy action of the Fed (Federal Reserve). Better than expected figures can bring about another bullish wave in the US indices. Check our April 11 – Economic Event Report for a detailed overview of upcoming economic events.

S&P500 – SPX – Trading Levels

Support     Resistance

2564.94      2655.3

2537.02      2683.22

2491.84      2728.4

Key Trading Level:    2610.12

DJIA – Dow30 – Trading Levels

Support     Resistance

23478.41    24454.61

23176.87    24756.15

22688.77    25244.25

Key Trading Level:    23966.51

Good luck, and trade with care today as markets can get heavily volatile during the New York session, especially on the release of US inflation and FOMC.