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The S&P 500 closed at 3,873.33, continuing its bearish run

The S&P 500 retained its composure around the 3,873.33 level after dropping 0.72%.

  • Continuing its a 5 day bearish run (-209.06 points), the S&P 500 showed losses Friday.

The MACD is significantly below its signal line which suggests that the existing bearish sentiment is beginning to swing around toward a more bullish outlook. Bollinger bands shows an indication of recovery: the lower band is at 3,815.26, a low enough level to, generally, suggest that the S&P 500 is trading below its value. The S&P could begin to recover as it approaches significant support, now 26.71 points away from 3,846.62. Dipping below could be an indication that further losses are ahead.

Overall, looking at the technical analysis landscape, although technical indicators are mixed and pointing in different directions, it seems the S&P 500 is set to appreciate despite today's setback.

In the meantime, negative performances are also seen in other markets, CAC lost 1.57% Friday and closed at 6,077.3. KOSPI Composite Index slides down 1.14% Friday and closed at 2,382.78. EuroSTOXX lost 1.28% Friday and closed at 3,500.41.

So far this year, the S&P 500 has declined 19.14% while touching highs around 4,796.56 earlier this year.

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Indices

Equities traders zero in on ASX as it adds 95.3 points (+1.42%)

ASX trades at 6,794.6 after gaining 95.3 points (1.42%).

ASX traded as high as 7,589.8 before shedding 11.1% lower over the past six months.

The MACD index is indicating that momentum is shifting from bearish to bullish following a positive crossover. When the MACD rises above the signal line, it is typically considered to be a bullish development favoring long positions. ASX broke through the 6,780 resistance and climbed above it 14.5 points; next resistance level is at 6,861.

Overall, looking at the technical analysis landscape, it seems ASX might continue pointing upwards in the short term.

ASX shows positive signs, other assets are also on par: EuroSTOXX is up 4.26%. CAC is up 4.24%. Dow Jones leaps up 2.8% to trade around 30,316.

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Indices

The Dow closed at 30,316 after making a massive single-day jump

The Dow jumps by 2.8% (816.32 points), its largest single-day gain since Jun 24.

The MACD index is indicating that momentum is shifting from bearish to bullish following a positive crossover. When the MACD rises above the signal line, it is typically considered to be a bullish development favoring long positions.

Overall, looking at the technical analysis landscape, it seems the Dow might continue pointing upwards in the short term.

The Dow Jones shows positive signs, other assets are also on par: ASX 200 added 3.75% and closed around 6,457 today. EuroSTOXX explodes 4.26% today and closed at 3,342.17. CAC went up by 4.24% today, and closed at 6,039.69.

Having set a significant low of 28,726 4 days ago, the Dow is trading 2.66% higher.

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Indices

The FTSE index sheds 156.46 points and tracking 2.26% lower heading into market close in a hour time

The FTSE went up to 7,069 only to drop back some of the way and is now trading around 7,065.22 as it reaches the end of the trading session.

  • The FTSE has gained 27.16 points over the past 3 days, and today's session seems to be adding to the current uptrend.

The FTSE hit a significant low of 6,881.6 around 5 days ago, but has since recovered 0.39%.

FTSE made an initial breakout above its 10 day Simple Moving Average at 7,030.36, a potential indicator of a newly emerging bullish phase. Despite this, the FTSE price action is currently oscillating around the 7,003 resistance level with prices moving above and below several times during the session.

Overall, looking at the technical analysis landscape, it seems the FTSE might continue pointing upwards in the short term.

Other markets are also showing gains as ASX 200 shoots up 3.75% to trade around 6,699.3. CAC surges 3.55% to trade around 6,000. Dow Jones is up 2.49%.

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