S&P 500

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

Celebration of the resumption of Sino-American negotiations

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09/05/2019 | 08:09 am
Opinion : Bullish above 2894 
Target price : 2975 
After ending up sharply up 1.08% to 2937 points, with good Chinese statistics and the withdrawal of extradition projects in Hong Kong, the S&P500 index should open again up 0.8% today.
Operators should widely welcome the resumption of the Sino-American dialogue, with discussions between Beijing and Washington scheduled for early October.

As for statistics, operators are waiting for the ADP survey at 14:15 in the United States, which should report 148K new jobs. At 2:30 pm, weekly jobless claims are expected to reach 215K and productivity is expected to rise by 2.2%. At 3:45 pm, the Final PMI services index will be unveiled and then at 4 pm the ISM services, anticipated at 54. Oil stocks should be at -2.4M at 5pm.

Graphically, the S&P500 should today break free from the 2944 point resistance zone. This signal, which will have to be confirmed at the end of the session, would argue for a continuation of the catch-up towards 2975 points and then 3000 points.
Laurent Polsinelli
Zonebourse.com 2019
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