WEEKLY S&P 500 REVIEW, APRIL 14-18

S&P 500 index closes the week in a ?red? zone: it lost over 2%.

Trading is conducted near the support level of 1820 points. If bulls are not able to breach it, then index will drop to 1808 and 1790.



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Weak quarterly reports of the American corporations triggered the decrease of S&P 500.

JPMorgan Chase & Co revealed a 19% decrease of the quarterly profits due to the decrease of a trading volume for stocks and the decrease of revenue from mortgage loans.

Net profit in I quarter has dropped from $6.53 B ($1.59/share) in 2013 to $5.27 B ($1.28/share) in 2014. Analysts predicted a level of $1.46/share.

We suppose that S&P 500 will try to win back part of this week?s losses. Technical indicators show that index is oversold.

Bullish divergence on H1 shows a soon change of a trend. Nearest targets for a technical roll-back are located at 1832, 1850 and 1865 points.

This information is an analytical review of Capital and FX markets. The material presented, and the information contained, is investment research and should in no way be considered as the provision of investment advice for the purposes of Investment Firms Law 144(I)/2007 of the Republic of Cyprus, or any other form of personal advice, which relates to certain types of transactions, with certain types of financial instruments.

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