S&P 500

SP500
Delayed USA - 11/11 11:04:39 pm
3087.01USD
-0.2%

Broad trend of indecision

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10/10/2019 | 05:40 am
Opinion : Check out the trading range breakout 2840 / 3025 
Despite a still very uncertain dispute, American values remain in a historical area. Admittedly, the major Wall Street index fell by 2% over the last sliding month, but this variation is taking place in a technical environment that still shows no negative signs. Marathon Petroleum achieved the best performance during this reference period, with an advance of 11.1%, an increase reflecting the enthusiasm of analysts for the stock. Lennar Corporation, which operates in the real estate sector, also posted a positive score of +10.1%. On the other hand, DXC Technology is up by more than 26%, following downward revisions of its outlook, bringing its annual decline to more than 50%. Technically, on a daily basis, prices stabilize in a broad lateral trend, a configuration that has been going on for more than 4 months. All moving averages confirm this graphical neutrality with flat orientations. The extremities of the corridor in which the S&P500 is flying are clearly identified. The 2840-point lower bollard was used as a support on several occasions and the resistance of the 3025 points did not allow the access index to other targets. Within these two points, indecision persists. On the other hand, any attempt to cross would allow a more directional movement to begin.
Patrick Rejaunier
Zonebourse.com 2019
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