The S&P 500 had a wild ride today.
The American share index has been consistently sold off since trading started today. The S&P is currently trading at -2.56%. This is the worst trading day since the end of October. We can also observe this gloomy market sentiment in the CBOE Volatility Index (VIX), which is currently up 19%.
This morning Boeing announced quarterly figures that were slightly worse than expected. Starbucks, Microsoft and AT&T were able to surprise positively with their numbers. Tonight’s FOMC meeting failed to stabilize the market.
The numbers from Facebook, Apple and Tesla await us tonight. According to the results, movements in the S&P 500 are possible here.
From a technical point of view, the S&P is currently sitting on a support at 3746. The next support is at 3717. The S&P 500 has not yet shown any signs of bottoming out. But once these are given, a reversal could take place with targets at 3790.
