S&P 500 : Wait and see before the Fed
Check out the trading range breakout
3022 / 3050
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Pending the Fed’s verdict on monetary policy and Jerome Powell’s press conference, the S&P500 index should start the session on a distant note. The American index had closed slightly lower by 0.08% to 3036 points yesterday, as a precautionary measure, as operators also limited initiatives with uncertainties about trade negotiations.
>In the summer of statistics, the ADP survey reported 125k job creations, as expected. Last month’s figure was revised down from 135K to 93K. GDP increased by 1.9% (consensus 1.6%). Next will come oil stocks, expected to reach 0.5M, with the Fed’s decision tonight.
Graphically, the trend remains upward in hourly data above 3022 points. The exit direction of the 3022/3050 points should be defined.
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