S&P 500

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

Slight increase in first exchanges

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09/30/2019 | 08:28 am
Opinion : Check out the trading range breakout 2940 / 2985 
American political uncertainties and rumours of Chinese listed companies withdrawing from American markets have weighed on the trend last Friday in Wall-Street, such as the S&P500, which ended in a decline of 0.53% to 2961 points.  Technology stocks were also impacted by Micron Technology’s disappointing outlook (-11.09%) and the Nasdaq100 ended down 1.16%. Today, the S&P500 index is expected to pick up a few colours (+0.3%) at the beginning of a week of macro-economic publications, with operators keeping their eyes on trade, with the resumption of negotiations on October 10. Regarding statistics, only the Chicago PMI index will be published in the United States, the consensus table on 50. From a technical point of view, the S&P500 remains in the consolidation phase, returning to a first hinge zone located around 2940 points, corresponding to the lower boundary of a gap left open on September 5. Only the lowering of this level would militate for more marked dislocations towards the 2921/2908 points, bounds of a second gap left open, even 2890 points by extension. A downward bias will remain for the moment privileged under the 2985 points (moving average at 50 hours). 
Laurent Polsinelli
Zonebourse.com 2019
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