S&P 500

SP500
Delayed USA - 10/18 11:08:57 pm
2986.2USD
-0.39%

Nervousness before commercial negotiations

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10/08/2019 | 07:55 am
Opinion : Bearish under 2960 
Target price : 2910 
With two days to go before the resumption of trade negotiations between Pékin and Washington, European markets are on the decline again, while the chances of significant progress are diminishing in the short term. The scope of the negotiations is limited on the Chinese side while the United States wants to reach a global agreement, and if no compromise is reached, new customs duties will enter into force on 15 October. In the wake of European indices that are losing 1% on average, the S&P500 index should start the session down by 0.6%. The American index had closed down by 0.45% to 2938 points yesterday.On the statistical side, only the PPI index, which is expected to rise by 0.1%, will be revealed at 2:30 p.m. Graphically, the S&P500 reached yesterday a first rebound target around 2860 points, a level that should trigger new management decisions. The first downside targets are set at 2918 and 2910 points, the limit of a gap left open last week. Below 2910 points, we could see a further acceleration towards 2878/2855 points;
Laurent Polsinelli
Zonebourse.com 2019
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