S&P 500 Futures Rise on Fed Rate Cut Bets as Powell Speech Looms

Stock Index Futures Edge Higher on Fed Rate Cut Hopes, Powell's Speech in Focus

In yesterday’s session, Wall Street’s major indexes closed higher, with the S&P 500 reaching a 1-month high.

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 5,620, it could lead to a corrective move down to 5,584.

Key Levels:
- Pivot Line: 5,620
- Resistance Lines: 5642, 5675, 5700
- Support Lines: 5584, 5553, 5525

Today's Expected Trading Range: The price is expected to fluctuate between 5,584 and 5,675.

Trend: Bullish momentum with potential correction.