S&P 500 : Stress is increasing
Bearish under 2895 PTS
Target price: 2830 PTS
|
American stocks have again experienced a day of intense stress. The S&P500 dropped yesterday by 2.93%, one of the largest declines of the year after the August 5th drop (-2.97%). Fears of a possible recession in the United States have dampened investor sentiment. All the components ended the session in red like the GAFAs, all down from 2 to 3%.
On this day, a flood of statistics will be published. First, at 2:30 pm, retail sales, the PhillyFed index, productivity, unemployment registrations and the Empire State Index, then at 3:15 pm, industrial production and production capacity utilization.
Graphically, in hourly data, it is imperative that the index remains above the 2830-point line, otherwise new downward targets will be opened, the first of which will be 2780 points. A sudden recovery would be required, with a 2895-point overrun, to eliminate the risks of degradation, which is unlikely at this stage of the configuration.
Disclaimer: The information, charts, data, views, or comments provided by SURPERFORMANCE SAS are intended for investors who have the necessary knowledge and experience to understand and appreciate the information contained within. These items are disseminated for personal reference only. They do not constitute an offer or solicitation to buy or sell financial products or services, nor an investment advice.
The use of the information disseminated takes place under the investor's sole responsibility, without recourse against SURPERFORMANCE SAS. SURPERFORMANCE SAS will not be liable, whether in contract, in tort, under any warranty, for errors, omissions, improper investments, or adverse evolution of markets.