S&P 500 on its way to 7500 with a next stop at 6000

The S&P 500 Index has surpassed levels from the beginning of the year, up about 23% from the lows reached in early April. The market is currently just 4% below the area of highs that functioned as active resistance from December to February. This raises the question of whether resistance at the 6,000 point level on the S&P 500 is still relevant.

The market decline from February, which turned into a significant drop in April, may have contributed to the market's recovery and set the stage for a rally. On weekly timeframes over the past 14 years, the market's approach to the 200-week moving average has served as an indicator of profitable buying. This year was no exception, although the S&P 500 fell slightly short of that line, like the situation in October 2023. Most bounces from this level in recent years have coincided with changes in monetary policy.

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⚠️ USA — Unemployment Claims at 03:00 GMT

✔️ Prev: 229K

🕒 Exp: 229K

🎯 Fact.: 229K

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⚠️ USA — Retail Sales at 03:00 GMT

✔️ Prev: 1.7% | 0.8%

🕒 Exp: 0.0% | 0.3%

🎯 Fact.: 0.1% 📈 | 0.1% 📉

⚠️ USA — Federal Reserve Chairman Jerome Powell Speaks at 12:40 GMT

🇺🇸 Trading dynamics at the stock market pre-market

📉The US stock market pre-market is showing negative dynamics.

In the Financial sector, shares of Berkshire Hathaway (BRK.B) are down -0.13%, while shares of Bank of America (BAC) are losing -0.09%.

In the Electronic Technology sector, shares of NVIDIA (NVDA) are down -0.66% and shares of AVGO (AVGO) are losing -1.44%.

In the Healthcare sector, Johnson & Johnson (JNJ) is up +0.65%, while Intuitive Surgical (ISRG) is down -1.05%.

Such volatility may increase demand for the dollar as a defensive asset, putting pressure on other currencies

🗓 Economic Calendar at 2025/05/16 (GMT)

03:00 🇳🇿 Expected Annual Inflation 2y from now Actual: 2.29%

09:00 🇪🇺 European Commission Economic Forecasts

11:00 🇨🇭 ⚡️ SNB Chairman Martin Schlegel Speaks

12:30 🇺🇸 Building Permits — Exp: 1450K Actual: 1412K | -4.7%

12:30 🇺🇸 Housing Starts — Exp: 1360K Actual: 1361K | 1.6%

14:00 🇺🇸 UoM Consumer Sentiment — Exp: 53.1 Actual: 50.8

15:00 🇬🇧 BOE Deputy Governor for Monetary Policy Clare Lombardelli Speaks


[Updated in real time]

GBPAUD Wave Analysis – 15 May 2025

- GBPAUD reversed from the support zone

- Likely to rise to resistance level 2.1000

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Gold Wave Analysis – 15 May 2025

- Gold reversed from support zone

- Likely to rise to resistance level 3300.00

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⚠️ Japan — Gross Domestic Product at 03:00 GMT

✔️ Prev: 0.6% | 2.2%

🕒 Exp: -0.1% | -0.2%

🎯 Fact.: -0.2% 📉 | -0.7% 📉

Surprising US price weakness and renewed dollar drowning

US statistics produced a shocking dive in producer prices, with everyone guessing how strong the upward spurt might be. Producer prices for April fell 0.5% after 0.0% a month earlier. March's value was heavily revised upward from -0.4%.

The shift in price declines has tinted the April data, and there is now little sign of a shock increase in response to tariffs. Of course, goods under the new tariffs won't arrive en masse in the States until the second half of May, but America didn't experience massive price increases in advance, which is relatively good news.

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⚠️ Switzerland — SNB Chairman Martin Schlegel Speaks at 11:00 GMT

🇺🇸 Trading dynamics at the stock market pre-market

📈The US stock market pre-market is showing positive dynamics.

In the Technology Services sector, shares of Google (GOOGL) are up +2.20% and shares of Netflix (NFLX) are up +0.39%.

In the Financial sector, shares of JPMorgan Chase (JPM) are up +0.30%, and shares of Goldman Sachs (GS) are up +0.58%.

In the Electronic Technology sector, shares of Nvidia (NVDA) are up +1.13% and shares of AMD (AMD) are up +2.32%.

Such growth may support demand for risky assets and weaken the dollar in the currency market.

Crypto market close to a top, with the possibility of a slight decline

Over the past seven days, the cryptocurrency market has ranged between $3.26 trillion and $3.30 trillion, reaching $3.33 trillion as of writing after recovering from the lower end of the range. Among the leading cryptocurrencies over the past day are EOS (+11.7%) and Aave (+8.5%). Among the outsiders are XPR and Monero, which showed a decline of 1%.

Bitcoin rose 2% over the last day, holding the $104K as a key level. The positive factor is that sellers have not yet managed to seize control of the market. However, resilience at high levels may be temporary before the next bounce, and there is considerable pressure near the upper boundary of the current range. In other words, the short-term outlook suggests a decline from current levels.

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AT&T Wave Analysis – 16 May 2025

- AT&T reversed from support zone

- Likely to rise to resistance level 28.35

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General Electric Wave Analysis – 16 May 2025

General Electric: ⬆️ Buy

- General Electric broke resistance zone

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🗓 Economic Calendar at 2025/05/19 (GMT)

02:00 🇨🇳 Industrial Production — Exp: 5.7% Actual: 6.1% | 6.4%

02:00 🇨🇳 Fixed Asset Investment — Exp: 4.4% Actual: 4.0%

02:00 🇨🇳 NBS Press Conference

09:00 🇪🇺 Consumer Price Index — Exp: 2.2% Actual: 2.2%

09:00 🇪🇺 Consumer Price Index - Core — Exp: 2.7% Actual: 2.7%

12:30 🇺🇸 FOMC Member Raphael W. Bostic Speaks

12:30 🇺🇸 FOMC Member John C. Williams Speaks

13:45 🇺🇸 FOMC Member Philip N. Jefferson Speaks

16:30 🇨🇭 ⚡️ SNB Chairman Martin Schlegel Speaks


[Updated in real time]