- The S&P 500 trades slightly higher early in the American session, having seen a swing trade after the open.
- Most banks are bullish on the index for 2022.
US stocks They got off to a rocky start in the early 2022 trading session, with the S&P 500 index oscillating between highs of 4,795 and lows below 4,760 in a matter of minutes in the wake of the 14: 30GMT cash open. Those lows below the 4,760 level were the lowest levels the index has traded at in a week. However, at current levels around 4,780, the index is trading with modest daily gains of around 0.3%. That means the index is only about 0.7% below the record highs close to 4,810 it printed last week, indicating the fact that US stock market sentiment is still very strong at the start. of the new year.
On the downside, the S&P 500 bulls can jump on any dip towards the 4,750 support as a buying opportunity, although the real buy on the dip has occurred at the 21-day moving average in recent weeks. It proved a great entry point for short-term bulls twice in December. In terms of the other major US exchanges, the Nasdaq 100 has been hovering within a range of 16,300 to 16,500 and is roughly 0.4% higher on the day, while the Dow is trying to break above 36,500 again. and is trading higher at about 0.25. %. The S&P 500 CBOE Volatility Index, often referred to as Wall Street’s “fear gauge,” is trading moderately just above recent lows in the 17.00 area, just a few points above 2021 lows in the region of 14.00-15.00.
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