S&P 500

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

Persistent blockage below 2950 points

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08/14/2019 | 08:22 am
Opinion : Check out the trading range breakout 2860 / 2950 
The Wall Street Major Index gained 1.5% following the postponement of the taxation of some Chinese products at the end of the year. The reaction was therefore qualitative with stocks that regained investor confidence. Technology stocks have risen sharply, as have Apple (+4.2%), Amazon (2.2%) and Microsoft, which is consolidating its global leadership in terms of capitalisation.

During this new session, investors will follow the release of oil stocks at 16:30. During "pre-trade" exchanges, the S&P500 shows a sharp drop of 1.2% following disappointing Chinese industrial production.

Graphically, in hourly data, prices have remained at the top of the current range below 2950 points. The orientation of the moving averages validates the neutral aspect of the current configuration. Only an extension beyond the 2952 points could give back strength to the buyer consensus. Otherwise, the downside risk remains permanent with objectives of 2860 and 2830 points.

Patrick Rejaunier
Zonebourse.com 2019
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