S&P 500 : Fueled by the FEDís accommodative speeches

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07/19/2019 | 03:22 pm
The major Wall Street index is moving close to its historical highs. The peak of 3017 points made it possible for the S&P500 to set yet another record, helped by the accommodating announcements of the FED, which should be implemented at the end of July. The overall performance in 2019 is exceptional with 19% valuation.

Significant differences can be noted over the last five days, highlighting the health insurance sector, which is benefiting from the outlook for lower drug prices in the US. Cigna recorded the best performance with more than 12% of earnings as well as Humana (+8%) and UnitedHealth (+7.5%).

Graphically, in daily data, prices return to the 20-session moving average. The downward break of the 2954 points, the first intermediate point, would lengthen the profit-taking phase to target the target of less than 2856 points, converging with the other 50 and 100-day averages. At this stage, there is a high probability that the buyer consensus will remobilize to relaunch the index. On the other hand, if prices remain above 2954 points, stabilization will dominate trade in the short term.

Patrick Rejaunier
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