S&P 500 : Slight increase in first exchanges
Check out the trading range breakout
2940 / 2985
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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.
Technological stocks were also impacted by Micron Technology’s disappointing outlook (-11.09%) and Nasdaq100 ended down 1.16%.
Today, the S&P500 index should recover a few colors (+0.3%), at the dawn of a week full of macro-economic publications.., operators will also keep their eyes on trade, with the resumption of negotiations on 10 October.
>>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, or even 2890 points by extension.
A downward bias will remain for the moment privileged under the 2985 points (moving average; 50 hours).
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