S&P 500 Futures Rise on Fed Rate Cut Bets as Powell Speech Looms

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Stock Index Futures Edge Higher on Fed Rate Cut Hopes, Powell's Speech in Focus

In yesterday’s session, Wall Street’s major indexes closed higher, with the S&P 500 reaching a 1-month high.

S&P 500 Technical Analysis

The price is currently consolidating between 5,584 and 5,620, awaiting a breakout.

Bullish Scenario:
If the price stabilizes above 5,620, confirmed by a 4-hour candle close, it could rise further toward 5,676.

Bearish Scenario:
If the price remains below 5,620, it could lead to a corrective move down to 5,584.

Key Levels:
- Pivot Line: 5,620
- Resistance Lines: 5642, 5675, 5700
- Support Lines: 5584, 5553, 5525

Today's Expected Trading Range: The price is expected to fluctuate between 5,584 and 5,675.

Trend: Bullish momentum with potential correction.