S&P 500

Delayed USA - 10/18 11:08:57 pm

Initial decline of 0.5%.

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10/02/2019 | 07:55 am
Opinion : Bearish under 2962 
Target price : 2908 
With fears about global growth, revived yesterday by the U.S. manufacturing ISM significantly below expectations (47.8 vs. 50.4 expected and 49.1 last month), the S&P500 index should follow in Europe's footsteps and open down by 0.5%.   The European indices are indeed gradually increasing their losses and this is 1.The S&P500 index finished down sharply by 1.23% to 2940 points yesterday.From a statistical point of view, operators are waiting for the ADP survey at 14:15, which should report 140K job creation and then oil stocks at 16:30, expected at 2.0M. The highlight of the week will be Friday with the monthly U.S. Employment Report. From a technical point of view, as recently mentioned, the S&P500 reached yesterday a hinged support area located around 2940 points, a level that should be lowered at the opening. In the absence of a positive reaction in the first exchanges, we can expect a continuation of the current movement towards 2921/2908 points or even 2890 points per extension.
Laurent Polsinelli
Zonebourse.com 2019
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