S&P 500

Delayed USA - 09/19 11:17:58 pm

0.65% increase before FOMC minutes

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08/21/2019 | 08:51 am
Opinion : Bullish above 2893 
Target price : 2944 
European markets are growing significantly today, driven in particular by the automotive sector, with new speculation on a merger between Renault and Fiat Chrysler Automobiles. The S&P500 index, which finished down 0.79% to 2900 points yesterday, is expected to recover, with an initial gain of 0.65%.
The market is also supported by hopes of a further move by the Fed next month, especially since the minutes unveiled tonight at 8:00 p. m. could provide some insight into future monetary policy.

As for statistics, sales of existing homes will be revealed in the United States at 4pm (consensus 5.41M) then oil stocks at 4.30pm, expected at -1.4M.
American futures contracts predict an increase of 0.6% for the moment.

Graphically, the S&P500 remains in a technical recovery phase and maintains a bullish bias in hourly data above 2893 points, with the 2944 points in sight. It will now be necessary to closely monitor the exit of the 2893/2944 points to have indications on the future trend.
Laurent Polsinelli
Zonebourse.com 2019
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