Source: PaxForex Premium Analytics Portal, Technical Insight

The U.S. stock market closed Tuesday's trading lower amid negative dynamics from the health care, technology and oil and gas sectors. The S&P 500 index fell 0.10%

S&P 500, H4

Pivot: 4080.00

Analysis:

Provided that the index is traded above 4035.00, follow the recommendations below:

• Time frame: H4
• Recommendation: long position
• Entry point: 4080.00
• Take Profit 1: 4100.00
• Take Profit 2: 4125.00

Alternative scenario: 

In case of breakdown of the level 4035.00, follow the recommendations below:

• Time frame: H4
• Recommendation: short position
• Entry point: 4035.00  
• Take Profit 1: 3995.00
• Take Profit 2: 3954.00

Comment:

RSI indicates an uptrend during the day.

Key levels:

S&P 500, D1

Pivot: 4073.00

Analysis:

While the price is above 3940.00, follow the recommendations below:

• Time frame: D1
• Recommendation: long position
• Entry point: 4073.00
• Take Profit 1: 4270.00
• Take Profit 2: 4450.00

Alternative scenario:

If the level 3940.00 is broken-down, follow the recommendations below:

• Time frame: D1
• Recommendation: short position
• Entry point: 3940.00
• Take Profit 1: 3855.00
• Take Profit 2: 3725.00

Comment:

RSI is bullish and indicates further increase.

Key levels: