Will drop SP500 index this week with a decrease in GDP?

23 Eyl 2019

Market Review on September 23, 2019

#SP500

Last week was marked by a decline in US interest rates from 2.25% to 2%, but the US easing of monetary policy has not led to an increase in stock market indices and respectively. This week will be published on Thursday the US GDP, which according to the behavior of the advanced PMI indicator of the ISM can be concluded that growth rates will be lower than previous, and this contributes to a reduction in stock prices and how should also drop in price indices. However, this event will take place on Thursday and while you can take a moment to collect items for a fall before the publication of the data.
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Technical analysis suggests about not overcome the resistance in the region of the monthly volatility in 3004, and the aggregate Falls Daily dynamics of Stock Exchange Delta Volume from the stock exchanges NYSE, NASDAQ and AMEX indexes suggests drop zones to the daily, weekly and monthly volatility. As well as the opening of European stock exchanges with a decrease suggests a further reduction of the index SP500

support and resistance zones

Monthly volatility resistance - 3004
Weekly volatility resistance - 3041
Daily volatility resistance - 3006

Daily volatility support - 2986
Weekly volatility support - 2950
Daily volatility support - 2910

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Cumulative Delta futures indexes DowJones 30, the SP500 and the NASDAQ 100 on the morning of September 23, 2019, is also in the declining trend and talk about the purchases would not be true.
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Trading recommendations for today would be selling at current prices and long hold positions in relation to the US GDP data that will be published on Thursday. Be aware of the risks and carry out further analysis themselves.