S&P 500

SP500
Delayed USA - 09/19 11:17:58 pm
3006.79USD
0%

Weekend in the green

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08/30/2019 | 08:20 am
Opinion : Bullish above 2887 
Target price : 2944 
Hopes of a lull on the trade front are maintaining risk appetite in Europe this weekend and should allow Wall-Street to continue its catch-up movement. The S&P500 index, which finished on a gain of 0.65% to 2887 points yesterday, is indeed expected to rise by 0.6%.

As for statistics, traders are expecting the Core PCE index and household spending and income at 14:30. At 3:45 p.m., the Chicago PMI index will be unveiled and then at 4 p.m., the Michigan confidence index.

Graphically, the American index should today test the resistance zone of 2944 points, corresponding to a first major rebound objective. The reaction of the index to this level should be decisive. Its crossing would release a new potential for appreciation towards 2975 points and then 3000 points.
If this fails, we could see some profit taking, with a return on the 2894/2887 points.


Laurent Polsinelli
Zonebourse.com 2019
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