WEEKLY S&P 500 REVIEW, MARCH 24-28

S&P 500 is on the positive territory by the end of the week. It added 2.7% after 5 working days.

At the moment, S&P 500 is traded near an important resistance level of 1880 points. If this level is breached, then index can get to the historical maximums of 1890, 1900 and 1920.

Technical analysis shows that S&P 500 is overbought. Technical indicators will give a signal to sell very soon. Nearest downwards targets are located at 1865, 1850 and 1835.



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The Federal Reserve meeting was important for S&P 500 dynamics. As it was expected, the committee made a decision to cut a program of assets buyouts from $65 billion to $55 billion.

The Chairman of the FED, Mrs. Janet Yellen, said that interest rates might increase “in 6 months after the asset purchase program ends?, i.e. in II quarter of 2015.

Based on the news, S&P 500 index got corrected and dropped to the support level of 1850 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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