S&P500 Ends 8-Day Streak as Markets Eye Fed Minutes Jackson Hole

21 Ağu

S&P 500 Snaps 8-Day Win Streak Ahead of Fed Minutes and Jackson Hole Uncertainty

• Market Reversal: Wall Street reversed course Tuesday, breaking recent winning streaks.
  
  
• Fed Minutes: The Federal Reserve will release minutes from its last meeting, where rates were held but future cuts hinted
  
  
• Jackson Hole: This week's Jackson Hole event could further shake up markets.
  
  
  S&P 500 Technical Analysis
  
  The price is currently consolidating between 5,584 and 5,620, awaiting a breakout.
  
  Bullish Scenario:
  If the price stabilizes above 5,620, confirmed by a 4-hour candle close, it could rise further toward 5,676.
  
  Bearish Scenario:
  If the price remains below 5584, it could lead to a corrective move down to 5525.
  
  Key Levels:
  - Pivot Line: 5584
  - Resistance Lines: 5642, 5675, 5700
  - Support Lines: 5553, 5525, 5491
  
  Today's Expected Trading Range: The price is expected to fluctuate between 5525 and 5,675.
  
  Trend: Bullish momentum with potential correction.