US500 rose sharply on Thursday as investors reassessed expectations about future Federal Reserve rate hikes, while upbeat earnings from retailers including Macy’s (19.3%), Dollar Tree (21.9%) and Dollar General (13.7%) lifted market sentiment. Index fell sharply last week, however sellers failed to break below support around 3800 pts area which coincides with 38.2% retracement of the upward wave launched in March 2020. Yesterday buyers became more active and the index jumped above 3965 pts level, which is marked with lower limit of the 1:1 structure and lower boundary of descending channel. If current sentiment prevails, the next target for bulls is located at 4180 pts which coincides with 23.6% retracement. On a weekly basis, US500 is up 3.5% on track to snap seven straight weeks of losses.
US500, D1 interval. Source: xStation5
Day Summary: Dollar Recovers Losses, Oil Near 3-Week Highs 🗽 US30 Falls 1%
US Open: US100 falls 0.7% as Treasury yields and oil prices surge 🚩 Walmart under pressure
Nasdaq falls ahead of the Wall Street open 🚩 Dollar attempts to recover losses
Economic Calendar: FOMC Minutes Out, PMIs and Japanese Inflation Ahead (20.08.2026)