U.S. stocks hovered around the flat line on Friday, after a better-than-expected housing report helped limit losses.
Stocks once again underwent whipsaw price action last week. The major market indexes started on a hot streak, with the Dow Jones Industrial Average and S&P 500 Index notching all-time highs Monday and Tuesday. However, stocks performed an about-face mid-week, with traders exiting equities to make a run on bonds.
Expecting downward move to 1,824.63 on a break of below previous day low at 1,861.25 (scenario 1) or a break above the moving average at 1,878 could push the Usa500 up to 1,898 level (scenario 2).
Usa500 is a CFD written over S&P500 futures.