S&P 500

Delayed USA - 11/11 10:20:01 pm

A positive bias before Mario Draghi's press conference

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10/24/2019 | 08:06 am
Opinion : Check out the trading range breakout 2984 / 3014 
Awaiting Mario Draghi’s last press conference, after the ECB kept rates unchanged, American futures contracts rose by 0.25%. The S&P500 index ended with a gain of 0.28% to 3005 points yesterday, benefiting from some good corporate results and the 2.8% rebound in oil prices, after the publication of lower weekly stocks (-1.7M vs +2.5M expected). Operators are now expecting durable goods orders (consensus -0.5%) and weekly jobless registrations at 14:30, followed by Flash PMI indices at 15:45 and new home sales at 16:00 (consensus 710K). Graphically, no change, the S&P500 maintains a dynamic upward trend in hourly data above 2963 points or even above 2984 points in intraday. We will now wait for the exit of the 2984/3014 points to take advantage of a continuation of the ongoing movement towards historical records (3027.98 points), or on the contrary, the beginning of a consolidation with the 2963 points as the first objective.
Laurent Polsinelli
Zonebourse.com 2019
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