• Dragostin Kozhuharov

US Open: Indices give up some early gains

SP500


Earlier today the SP500 futures were trading higher, briefly going above 3000. Since then it has given up gains and is now trading just above 2930. We will see whether the US session is going to back up the small gains from earlier today, or the selling from last week will continue. The two handles - 3000 (Resistance) and 2900 (Support) are to be monitored today. Last week's low is at 2853.25.


US Manufacturing PMIs for February are released in less than 1 hour. The expectation is for a reading of 50.5


SP500 Futures Daily Chart


USDCHF

USDCHF Daily Chart


The pair broke below last week's low of 0.91600 as the flow to Safe haven currencies continues. It traded as low as 0.95455 (September 2019 low) where it found support.

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