Call 800 665 0411 to learn about our services for your stock

Search   Follow Investorideas on Twitter   Investorideas is on Facebook   Investorideas is on Youtube   Investorideas is on Pinterest  Investorideas is on stocktwits   Investorideas is on tumblr   Investorideas is on LinkedIn   Investorideas Instagram   Investorideas Telegram   Investorideas Gettr   Investorideas RSS

Share on StockTwits

Stocks - More Uncertainty, Is This a Bottoming Pattern?


February 28, 2023 ( Newswire) The S&P 500 index gained 0.31% on Monday, as it fluctuated within a consolidation following its recent declines. The market opened higher, but it retraced the advance and closed below the 4,000 level again. On Friday the daily low was at 3,943.08, but the index bounced at the end of the day. There are still fears about monetary policy tightening following a series of better-than-expected economic data releases.

The S&P 500 will likely open 0.1% higher this morning after the futures' overnight decline and a rebound. So the market will extend a consolidation along the 4,000 level. In early February the index broke below the upward trend line, as we can see on the daily chart:

Futures Contract Remains Close to 4,000

Let's take a look at the hourly chart of the S&P 500 futures contract. It's trading slightly below the 4,000 level. The resistance level is at around 4,030, marked by the recent local highs. On the other hand, the support level is at 3,950.


Stock prices will open slightly higher this morning. The market may be forming a short-term bottom following a decline from mid-February local highs. However, there have been no confirmed positive signals so far. Investors will be waiting for the important CB Consumer Confidence release at 10:00 a.m.

Here's the breakdown:

  • Stock prices continue to fluctuate within a consolidation following their recent declines.
  • The S&P 500 may be forming a bottom before some more meaningful upward reversal.
  • In my opinion, the short-term outlook is bullish.

More Info: Newswire

This news is published on the Newswire - a global digital news source for investors and business leaders

Disclaimer/Disclosure: is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investing involves risk and possible losses. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. Contact management and IR of each company directly regarding specific questions.

More disclaimer info: Learn more about publishing your news release and our other news services on the newswire

Global investors must adhere to regulations of each country. Please read privacy policy:

That's all it takes to get an article published on Investor Ideas - Learn More