S&P 500 : Close to its balance at the opening
Bearish under 1888 PTS
Target price: 1863 PTS
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Despite the fall of European markets indexes and in absence of macroeconomic releases, the S&P 500 is expected to open close to its balance. The later closed up by 0.38% at 1885 points yesterday.
Initiatives should remain limited ahead of the announcement of FOMC minutes due tomorrow at 2:00 pm EDT. Otherwise, several members of the FED will also hold a speech during today session and tomorrow.
On a technical viewpoint, the S&P 500 show no sign of weakness and keep its horizontal consolidation phase. The potential of progression seems to be narrowed leading to favor a seller pressure in the short term with 1871 points as target, then 1863 points in line of sight.
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