US Economy Grows 2.1% in First Quarter

The S&P 500 (SPX) is trading below its 20- and 50-day moving averages, with the Relative Strength Index (RSI) at 39, indicating weak momentum. The MACD line is below the signal line and in negative territory, confirming short-term bearish momentum. The 2.1% growth mentioned in the headline may fall short of expectations, potentially exerting negative pressure on the market. The 1.8% decline over the past 24 hours suggests continued selling pressure. The bearish trend is likely to persist in the short term.

NDX dropped 3.8% in the last 24 hours to 29,229, closing below its 20-day (29,658) and 50-day (30,005) moving averages. While the RSI at 37 approaches oversold territory, the MACD line remains below the signal line and in negative territory, indicating weak short-term momentum. The reported 2.1% growth rate may fall short of expectations and could be insufficient to alleviate the current selling pressure. Weak technical indicators and price action below key averages suggest the downtrend may persist over the next 1-3 days.

The US Dollar Index (DXY) is trading at 101.60 with a slight negative daily change. The RSI stands at 53, indicating neutral territory, while the MACD shows weak positive momentum just above its signal line. The price remains above the 20- and 50-day moving averages but lacks clear directional strength. If the US Q1 GDP data meets expectations, it may not trigger a sharp market reaction. In the near term, a sideways or narrow-range fluctuation is expected.