{"id":150026,"date":"2019-06-21T10:42:52","date_gmt":"2019-06-21T14:42:52","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=150026"},"modified":"2019-06-21T07:43:41","modified_gmt":"2019-06-21T11:43:41","slug":"sp500-analysis-positive-data-and-dovish-fed-bullish-for-sp500-stock-market","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2019\/06\/sp500-analysis-positive-data-and-dovish-fed-bullish-for-sp500-stock-market\/","title":{"rendered":"SP500 Analysis: Positive data and dovish Fed bullish for SP500 Stock Market"},"content":{"rendered":"
June 21, 2019<\/div>
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By IFCMarkets<\/a><\/strong><\/p>\n

Positive data and dovish Fed bullish for SP500<\/strong><\/p>\n

Federal Reserve indicated it would act to support expansion with data pointing to continued strength of US economy. Will the SP500 <\/a> stock index continue advancing?<\/p><\/blockquote>\n

US monetary authority indicated a leaning toward easier policy at June 17-18 policy meeting. While the Federal Reserve left federal funds rates unchanged in 2.25%-2.5% range, chairman Powell said the central bank would \u201cact as appropriate to sustain the expansion\u201d. US economic data were positive on balance ahead of the Federal Reserve meeting: US retail sales grew 0.5% in May, industrial production rose 0.4% when 0.2% rise was expected, and utilization edged up 0.2 percentage point to 78.1%. And while housing starts declined 0.9% on month in May, building permits rose 0.3% after 0.2% increase in April. With the Federal Reserve vowing to take measures if expansion is jeopardized in case of prolonged US-China tariff standoff positive economic data are bullish for US equities market.<\/p>\n

\"SP500<\/p>\n

On the daily timeframe SP500: D1 <\/b> is rising since failure to close below Fibonacci 61.8 level. It has returned above 200-day moving average MA(200). These are bullish developments.<\/p>\n