S&P 500 and Nikkei Trading Levels – Risk off Sentiment In Play

The global stock markets are trading sideways as trade tensions stay and earnings season winds down. Overall, the U.S. futures were flat...


The global stock markets are trading sideways as trade tensions stay and earnings season winds down. Overall, the US futures were flat as investors looked confused whether to buy indices on better earnings reports or to stay out of it over trade war tensions.

The US-China trade tensions continue to widen as Beijing lashed out at US President Donald Trump for his trade policies. During the weekend, Beijing said that it’s ready to counter with tariffs on up to $60 billion of US products after the White House planned to inflict tariffs of 25% instead of 10% on $200 billion of imported Chinese products.

On the other hand, earnings season is winding down this week. Companies like Tyson Foods (NYSE:TSN), SeaWorld Entertainment Inc (NYSE:SEAS) and Cardinal Health (NYSE:CAH) are among those expected to release their earnings reports this week. Besides this, the stock markets can remain under bearish pressure as Federal Reserve indicated two additional rate hikes in 2018.

Watch out for the key trading levels for SPX and DAX this week.

S&P 500 – SPX500- Trading Levels

Support Resistance
2808.87 2842.51
2798.47 2852.91
2781.65 2869.73
Key Trading Level: 2825.69

Nikkei – NKY25 – Trading Levels

Support Resistance
22389.26 22712.64
22289.38 22812.52
22127.69 22974.21
Key Trading Level: 22550.95

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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