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CFDs and forex (FX) are complex instruments and come with a high risk of losing money rapidly due to leverage. 66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs, FX, or any of our other products work and whether you can afford to take the high risk of losing your money. Losses can exceed deposits on some products.
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Technical Update - S&P 500 and Nasdaq looking at June lows

Technical Update - S&P 500 and Nasdaq looking at June lows

Equities 2 minutes to read
KCL
Kim Cramer Larsson

Technical Analyst, Saxo Bank Group

S&P 500 was quite volatile yesterday following the FED interest rate announcement. After first reaction that was t6o sell buyers came in and lifted S&P 500 to test the resistance at 3,900 only to be hammered down again and then some.  Closing spot on the 0.786 retracement.
S&P 500 seems to be set for a test of support at 3,738 and June lows at around 3,636. To demolish this bearish view short-term a close above 3,907 is needed.         

Source: Saxo Group

Identical picture on Nasdaq 100. Rejected at the resistance at 12,046 closing a few points above 0.786 retracement. June lows around 11,037 is likely to be tested.
Closing above 12,063 will demolish the short term bearish outlook.

Source: Saxo Group

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