Market news
21.06.2021, 13:00

S&P 500 Index: Break of support at 4170/68 to clear the way for a test of the 4142 mark - Credit Suisse

FXStreet reports that the Credit Suisse analyst team notes that the S&P 500 Index has broken support from its uptrend from last October and price support at 4170/68, clearing the way for a test of the 63-day average at 4142.

“S&P 500 is coming under increasing pressure following the failure to clear our next flagged resistance at 4260 and not only have we seen a sharp downturn in momentum and OnBalanceVolume but also now a move below the uptrend from last October and also key price support from the early June low at 4170/68. This sees a top complete to clear the way for a deeper setback to test the 63-day average, currently seen at 4142. Our bias would then be to look for signs of stabilization here.” 

“A clear and closing break below 4142 would warn of a more concerted and lengthier corrective phase.”

© 2000-2022. All rights reserved.

This site is managed by Teletrade D.J. Limited 20599 IBC 2012 (First Floor, First St. Vincent Bank Ltd Building, James Street, Kingstown, St. Vincent and the Grenadines).

The information on this website is for informational purposes only and does not constitute any investment advice.

AML Website Summary

Risk Disclosure

Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.

Privacy Policy

Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to Automatic import of materials and information from this website is prohibited.

Please contact our PR department if you have any questions or need assistance at

Live Chat E-mail
Choose your language / location