S&P 500 : Towards a second consecutive session of increase
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Check out the trading range breakout
2960 / 3005
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Relating in the background to the opening of a dismissal procedure against the American President, the S&P500 index recovered 0.62% to 2984 points yesterday, driven by new hopes for trade negotiations.
D. Trump indicated that an agreement with China could be reached earlier than expected, in contrast to Tuesday’s remarks, when he considered Chinese business practices to be inescapable.
On the statistical side, operators will be informed of the latest estimate of U.S. GDP for the second quarter at 2:30 p.m. (2% consensus) as well as weekly unemployment registrations and wholesale trade stocks. Housing sales promises, which are expected to fall by 1%, will be published at 4pm.
Graphically, the S&P500 remains in a phase of horizontal consolidation, finally showing no real sign of weakness. Only the drop of 2960 points would militate for the beginning of a stronger consolidation which could bring the index back to 2940 points then 2921/2909 points.
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