News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
Oil - US Crude
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Wall Street
More View more
Real Time News
  • Currency exchange rates are impacted by several factors. Are different world leaders a contributing factor? Find out here:
  • Gold snapped a two-week losing streak but keeps price within the broader August downtrend. These are the levels that matter on the $XAUUSD weekly chart. Get your market update from @MBForex here:
  • $GBPUSD continues to move higher, despite Friday’s weakness, as vaccination hopes continue to fuel positive sentiment despite ongoing lockdown fears and downbeat UK data. Get your market update from @nickcawley1 here:
  • Risk management is one of the most important aspects of successful trading, but is often overlooked. What are some basic principles or risk management? Find out from @PaulRobinsonFX here:
  • Recessions can devastate the economy and disrupt the fortunes of individuals, businesses, and investors. But economic decline in the business cycle is inevitable, and your trading can be defined by how you respond to crisis. learn how to prepare here:
  • Looking for a new way to trade reversals? One of the most used reversal candle patterns is known as the Harami. Like most candlestick formation patterns, the Harami tells a story about sentiment in the market. Get better with trading reversals here:
  • MACD who? The Moving Average Convergence Divergence (MACD) is a technical indicator which simply measures the relationship of exponential moving averages (EMA). Find out how you can incorporate MACD into your trading strategy here:
  • Knowing how to accurately value a stock enables traders to identify and take advantage of opportunities in the stock market. Find out the difference between a stock's market and intrinsic value, and the importance of the two here:
  • It seems the markets are riding high, but risk is always lurking around the corner. Consider your escape plan before you find yourself in collapsing market. What are the top havens for different conditions in 2021? Find out from @JohnKicklighter here:
  • Myth or fact? One thing is for sure, there are a lot of misconceptions about trading. Knowing the difference between common trading myths and the reality is essential to long-term success. Find out about these 'myths' here:
S&P 500, Russell 2000 Outlook: Approaching an Inflection Point

S&P 500, Russell 2000 Outlook: Approaching an Inflection Point

Justin McQueen, Analyst

S&P 500, Russell 2000 Price Analysis & News

  • Questions Raised After Risk Rally Peters Out
  • S&P 500 | Approaching Inflection Point
  • Russell 2000 | Risks Remain Skewed to the Downside

How to Invest During a Recession: Investments & Strategy

S&P 500 | Approaching Inflection Point

Yesterday’s risk rally saw a notable turnaround late in the US session, consequently raising concerns over the recent upside. As noted last week, we feel that equities have been in a bear market rally and thus we do not rule out a revisit to the yearly lows. Uncertainty remains rife as investors continue to gauge the impact of coronavirus on the economy. Tomorrow will provide another indication with the latest jobless claims data due to be released. With gains in cyclical stocks stalling relative to defensives the S&P 500 faces hurdles in the near term.

How to Use IG Client Sentiment in Your Trading
How to Use IG Client Sentiment in Your Trading
Recommended by Justin McQueen
Improve your trading with IG Client Sentiment Data
Get My Guide

S&P 500 Levels to watch

On the topside, near-term resistance is situated at 2728, which marks the June 2019 lows. While the S&P 500 had broken above this level yesterday, failure to close above signals possible exhaustion in the recent upside, raising the risk of renewed selling in the index. Alongside this, key resistance is situated at the 2790-2800, where the 50% Fib retracement of the Feb-Mar sell-off resides. We see this level as a key inflection point for the S&P 500. In terms of support, the 200WMA sits at 2648 where a closing break below puts 2500 back into focus.

S&P 500 Price Chart: Weekly Time Frame

S&P 500, Russell 2000 Outlook: Approaching an Inflection Point

Source: IG Charts

Russell 2000 | Risks Remain Skewed to the Downside

As we look at smaller-cap stocks, the 1200 level is proving to be a tough nut to crack for the Russell 2000 with index yet again failing to make a break above. As such, the index has continued to close below the 23.6% Fibonacci retracement situated 1141, which we feel keeps risks skewed to the downside.

Russell 2000 Price Chart: Weekly Time Frame

S&P 500, Russell 2000 Outlook: Approaching an Inflection Point

Source: IG Charts

--- Written by Justin McQueen, Market Analyst

Follow Justin on Twitter @JMcQueenFX

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.