S&P 500 Index Performance at Close:

The session witnessed a slight decline in the index amid a state of anticipation in global markets, marking the second consecutive day of decline for the index.

• Closing Price: 7,135.95 points.

• Daily Change: -2.85 points (-0.04%).

• Highest Level During Session: 7,145.63 points.

• Lowest Level During Session: 7,107.86 points.

• Trading Volume: Approximately 3.26 billion shares
• Opening Price: 7,131.61 points.

Technical Analysis and Indicators

The technical indicators showed a state of balance with a slight inclination towards selling in the very short term due to profit-taking near historical peaks.

• Relative Strength Index (RSI 14): Stabilized at 44.15, indicating moderate selling momentum without reaching oversold conditions.

• Moving Averages:

  • The index continues to trade above the 200-day moving average at 6,805.99, confirming the continuation of the overall upward trend.

  • The index faces immediate negative pressure below nearby resistance levels.

• Support and Resistance Levels:

  • First Resistance: 7,174 points (the peak recorded on April 27).

  • First Support: 7,100 points (psychological barrier and daily support).

  • Major Support: 7,047 - 7,050 points (breaking this level may change the positive outlook for the medium term).

Economic Summary

• Market Context: The slight decline resulted from rising bond yields and geopolitical ambiguity in the Middle East, in addition to investors awaiting the U.S. Federal Reserve's decisions regarding interest rates, which were recently maintained in the range of 3.5% - 3.75%.

• Monthly Performance: Despite the declines in the past two days, the index is still up by approximately 9.3% since the beginning of April, supported by strong expectations for growth in the technology sector related to artificial intelligence.

Technical Note: The overall trend remains upward as long as the index maintains its position above the 7,050 points level, and any breakout above the 7,178 level could open the way to target levels of 7,500 points.

Conclusion

The index is in a phase of horizontal stability above 7,050, keeping the optimistic outlook intact, while breaking this level may push the market to test lower support levels to gather new momentum.

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