{"id":77003,"date":"2024-02-12T11:02:17","date_gmt":"2024-02-12T09:02:17","guid":{"rendered":"https:\/\/ironfx-com-php8.wp-dev.int.theitops.net\/?p=77003"},"modified":"2025-12-11T13:42:33","modified_gmt":"2025-12-11T11:42:33","slug":"optimism-characterizes-the-markets","status":"publish","type":"post","link":"https:\/\/www.ironfx-cn.com\/en\/optimism-characterizes-the-markets\/","title":{"rendered":"Optimism characterizes the markets"},"content":{"rendered":"\n<p>The market seems to be characterized by relative optimism as S&amp;P 500 rose, passing clearly the 5000 points hallmark on Friday and providing a psychological boost. The next big test though may prove to be the release of the US CPI rates for January tomorrow and a possible slowdown may intensify market expectations for the Fed to proceed with extensive rate cuts, starting in May supporting US stockmarkets. We have to note that Fed policymakers tend to push back against market expectations which tend to cool down the optimism of the markets, while the earnings season is till on and may influence the markets.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<iframe title=\"Central bank officials in the spotlight\" width=\"750\" height=\"422\" src=\"https:\/\/www.youtube.com\/embed\/aQ4pyblKydc?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" allowfullscreen><\/iframe>\n<\/div><\/figure>\n\n\n\n<p>S&amp;P 500 rose beyond the 5000 psychological threshold on Friday. We tend to maintain our bullish outlook as long as the upward trendline guiding the index since the 27<sup>th<\/sup> of October remains intact. Also, we note that the RSI indicator below our daily chart has risen above the reading of 70 highlighting the strong bullish sentiment of the market for the index, yet at the same time may be implying that the index is in overbought territory and may be ripe for a correction lower. Should the bulls maintain control over the index, we set as the next possible target for the bulls the 5100 (R1) resistance line. Yet the index is already at record high levels, which may give the bulls cold feet and provide the bears with a chance to take over. Yet for a bearish outlook we would require the index\u2019s price action to break the prementioned upward trendline clearly, signaling an interruption of the upward movement and continue to break the 4975 (S1) support line clearly.<\/p>\n\n\n\n<p>In the FX market we note that the USD tended to edge lower on Friday, and given the lack of high-impact releases from the US today, we expect fundamentals to lead the way for the greenback, while the market\u2019s relative optimism, should it be maintained, could provide support for riskier currencies.<\/p>\n\n\n\n<p>USD\/JPY maintained a sideways motion yesterday between the 150.00 (R1) and the 148.55 (S1) levels breaking the upward trendline guiding it. Currently, we tend to maintain our bias for the sideways motion to continue between the prementioned levels. Should the bulls take over we may see the index breaking the 150.00 (R1) resistance line and aim for the 151.85 (R2) resistance level. Should the bears be in charge, we may see the pair breaking the 148.55 (S1) support line aiming for the 146.30 (S2) support barrier.&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-other-highlights-for-the-day\"><strong>Other highlights for the day:<\/strong><\/h2>\n\n\n\n<p>We note in the European session, the release of Sweden\u2019s Housing Price for February as well as Turkey\u2019s unemployment rate for December. On the monetary front, we note that&nbsp; ECB\u2019s Lane, Cipollone, Buch, Minneapolis Fed President Kashkari, BoE Governor Andrew Bailey and RBA\u2019s Kohler are scheduled to speak. During tomorrow\u2019s Asian session, we get Australia\u2019s February Consumer sentiment and Japan\u2019s Corporate goods prices for January.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-as-for-the-rest-of-the-week\"><strong>As for the rest of the week:<\/strong><\/h2>\n\n\n\n<p>On Tuesday we note the release of UK\u2019s employment data for December, Switzerland\u2019s January CPI rates, Germany\u2019s ZEW indicators for February and highlight the release of the US CPI rates for January. On Wednesday we get UK\u2019s CPI rates for January and Eurozone\u2019s revised GDP rate for Q4. On Thursday we start with Japan\u2019s GDP rates for Q4, Australia\u2019s January employment data, UK\u2019s preliminary GDP rate for Q4, the Czech Republic\u2019s CPI rates for January, Canada\u2019s House Starts for the same month and manufacturing sales for December and from the US we get the weekly initial jobless claims figure, the Philly Fed business index for February as well as January\u2019s retail sales and industrial production growth rates. On Friday we get UK\u2019s retail sales growth rate for January, the US PPI rates for the same month and finally the preliminary US University of Michigan consumer sentiment for February.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-usd-jpy-h4-chart\"><strong>USD\/JPY H4 Chart<\/strong><\/h2>\n\n\n\n<figure class=\"wp-block-image size-full\"><img fetchpriority=\"high\" decoding=\"async\" width=\"975\" height=\"456\" src=\"\/wp-content\/uploads\/2024\/02\/image-55.png\" alt=\"support at one hundred and forty-eight point fifty-five and resistance at one hundred and fifty, direction sideways \" class=\"wp-image-77004\" title=\"usd-jpy-four-hour-chart\"\/><\/figure>\n\n\n\n<p>Support: 148.55 (S1), 146.30 (S2), 144.45 (S3)<\/p>\n\n\n\n<p>Resistance: 150.00 (R1), 151.85 (R2), 154.00 (R3) <\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-us-500-cash-daily-chart\"><strong>US 500 Cash Daily Chart<\/strong><\/h2>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" width=\"975\" height=\"456\" src=\"\/wp-content\/uploads\/2024\/02\/image-56.png\" alt=\"support at four thousand nine hundred and seventy five and resistance at five thousand one hundred, direction upwards \" class=\"wp-image-77005\" title=\"us-five-hundred-daily-chart\"\/><\/figure>\n\n\n\n<p>Support: 4975 (S1), 4840 (S2), 4660 (S3)<\/p>\n\n\n\n<p>Resistance: 5100 (R1), 5250 (R2), 5400 (R3) <\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" width=\"2009\" height=\"495\" src=\"\/wp-content\/uploads\/2024\/02\/image-57.png\" alt=\"\" class=\"wp-image-77007\" title=\"benchmark-12-02-2024\"\/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1014\" height=\"574\" src=\"\/wp-content\/uploads\/2024\/02\/image-60.png\" alt=\"\" class=\"wp-image-77012\" title=\"table-12-02-2024\"\/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1720\" height=\"961\" src=\"\/wp-content\/uploads\/2024\/02\/image-58.png\" alt=\"\" class=\"wp-image-77010\" title=\"morning-releases-12-02-2024\"\/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1737\" height=\"440\" src=\"\/wp-content\/uploads\/2024\/02\/image-59.png\" alt=\"\" class=\"wp-image-77011\" title=\"morning-releases-12-02-2024\"\/><\/figure>\n\n\n\n<p>If you have any general queries or comments relating to this article please send an email directly to our Research team at <a href=\"mailto:reseach_team@ironfx.com\">research_team@ironfx.com<\/a><\/p>\n\n\n\n<p>Disclaimer:<br>This information is not considered as investment advice or an investment recommendation, but instead a marketing communication. IronFX is not responsible for any data or information provided by third parties referenced, or hyperlinked, in this communication.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The market seems to be characterized by relative optimism as S&amp;P 500 rose, passing clearly the 5000 points hallmark on<\/p>\n","protected":false},"author":15,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-77003","post","type-post","status-publish","format-standard","hentry","category-uncategorized","blog-category-financial-news","entry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.3 (Yoast SEO v27.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Market Optimism Rises as S&amp;P 500 Breaks 5000<\/title>\n<meta name=\"description\" content=\"Market optimism grows as the S&amp;P 500 tops 5000, with traders eyeing US CPI data and Fed policy signals for clues on future market direction.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ironfx.com\/en\/wp-json\/wp\/v2\/posts\/77003\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Optimism characterizes the markets\" \/>\n<meta property=\"og:description\" content=\"Market optimism grows as the S&amp;P 500 tops 5000, with traders eyeing US CPI data and Fed policy signals for clues on future market direction.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.ironfx-cn.com\/en\/optimism-characterizes-the-markets\/\" \/>\n<meta property=\"og:site_name\" content=\"Complete Turnkey Introducing Brokers (IB) Solution at IronFX\" \/>\n<meta property=\"article:published_time\" content=\"2024-02-12T09:02:17+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-11T11:42:33+00:00\" \/>\n<meta name=\"author\" content=\"IronFX Team\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.ironfx-cn.com\\\/en\\\/optimism-characterizes-the-markets\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.ironfx-cn.com\\\/en\\\/optimism-characterizes-the-markets\\\/\"},\"author\":{\"name\":\"IronFX Team\",\"@id\":\"https:\\\/\\\/www.ironfx-cn.com\\\/en\\\/#\\\/schema\\\/person\\\/6727476356d10030d1564b38f6e699b1\"},\"headline\":\"Optimism characterizes the markets\",\"datePublished\":\"2024-02-12T09:02:17+00:00\",\"dateModified\":\"2025-12-11T11:42:33+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.ironfx-cn.com\\\/en\\\/optimism-characterizes-the-markets\\\/\"},\"wordCount\":754,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/www.ironfx-cn.com\\\/en\\\/#organization\"},\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.ironfx-cn.com\\\/en\\\/optimism-characterizes-the-markets\\\/\",\"url\":\"https:\\\/\\\/www.ironfx-cn.com\\\/en\\\/optimism-characterizes-the-markets\\\/\",\"name\":\"Market Optimism Rises as S&P 500 Breaks 5000\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.ironfx-cn.com\\\/en\\\/#website\"},\"datePublished\":\"2024-02-12T09:02:17+00:00\",\"dateModified\":\"2025-12-11T11:42:33+00:00\",\"description\":\"Market optimism grows as the S&P 500 tops 5000, with traders eyeing US CPI data and Fed policy signals for clues on future market direction.\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.ironfx-cn.com\\\/en\\\/optimism-characterizes-the-markets\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.ironfx-cn.com\\\/en\\\/optimism-characterizes-the-markets\\\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.ironfx-cn.com\\\/en\\\/optimism-characterizes-the-markets\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.ironfx-cn.com\\\/en\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Optimism characterizes the markets\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.ironfx-cn.com\\\/en\\\/#website\",\"url\":\"https:\\\/\\\/www.ironfx-cn.com\\\/en\\\/\",\"name\":\"Complete Turnkey Introducing Brokers (IB) Solution at IronFX\",\"description\":\"&quot;Our Introducing Brokers program offers competitive conditions tailored to our partners&#039; needs. 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