S&P 500

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

Uncertainty about trade leads to caution

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10/07/2019 | 08:41 am
Opinion : Check out the trading range breakout 2918 / 2967 
The solid monthly U.S. employment report released on Friday partially reassured operators about the U.S. economy and helped the S&P500 index regain 1.42% to 2952 points. The weekly loss was thus considerably reduced (-0.3%), despite the heavy dislocations that occurred after the announcement of a new contraction in manufacturing activity in the United States.  The S&P500 index should target the week on a downward trend of around 0.25%, the remaining caution should be exercised as trade negotiations approach on Thursday.  At the macro-economic level, consumer credit will be revealed at 9pm (consensus 14.9B) and Jerome Powell will address the National Association for Business Economics annual conference at 7pm. From a graphic point of view, the S&P500 is also in the technical recovery phase. In the very short term, we will closely follow the exit of the 2918/2967 points to act. An exit from the top of this area could allow the index to return to its historical records. Otherwise, below 2918 points, further disengagements could quickly bring the index back to last week’s lows.
Laurent Polsinelli
Zonebourse.com 2019
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