SPX & DJIA Trading Levels – Risk On Sentiment Rolls Ahead of US Economic Events!

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.

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.

Related Articles

Tech Stocks Lift Nasdaq, DJIA Follows as Google and Intel Earnings Beat

14 hours ago

Save

S&P 500 (SPX) Rebounds Sharply from Key Support Level — Is a Bullish Breakout Ahead?

1 day ago

Save

FTSE Flat After Weaker than Expected Inflation Data, Chancellor Reeves to Give Budget Update

1 month ago

Save

Comments

0 0 votes

Article Rating

Subscribe

Login

Notify of

new follow-up commentsnew replies to my comments

Please login to comment

0 Comments

Oldest

Newest Most Voted

Inline Feedbacks

View all comments