S&P 500

SP500
Delayed Quote. Delayed  - 10/22 05:15:05 pm
3453.49PTS +0.52%

Focus on US employment

10/04/2019 | 08:09am
Opinion : Check out the trading range breakout  2975/  2940
Headwinds blew on Wall Street yesterday with a very negative start before the S&P500 recovered and finished up 0.80% to 2910 points.Despite an expected ISM of the declining services (52.5 versus 55), investors have decided to buy in anticipation of a future FED action to curb the economic slowdown. The GAFAs showed up in a good day yesterday with the increase of Apple and Alphabet around 1%.

For this last day of the week, stakeholders will be informed of the level of employment in the United States with the unemployment rate and job creation at 2:30 p.m. In the meantime, futures are negotiated on a negative basis of 0.3% Graphically, in terms of hourly data, prices rebound from the 2875-point zone to the moving average at 2910 points. Selling pressure is likely to persist as long as prices remain below the 2940-point gap, with strong resistance in the short term.

 


 


Patrick Rejaunier
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