S&P 500 : Initial fall of 0.5%
Bearish under 1955 PTS
Target price: 1930 PTS
|
Having limited potential losses and closed slightly down by 0.02% to 1950 points yesterday, the S&P 500 is expected to follow European markets and drop by 0.5% at the opening.
As for statistics, Crude Oil Inventories report will be released at 10:30a.m. EDT and the Federal Budget Balance later at 2:00p.m.
The U.S. Index should test today the 1940 points area as graphically shown. Below this level the index remain well oriented in hourly data. Nevertheless, the breakout of this threshold, which matches with the 50-hour moving average, would imply the beginning of a consolidation phase toward 1930 points and subsequently the 1915 points.
Disclaimer: The information, charts, data, views, or comments provided by SURPERFORMANCE SAS are intended for investors who have the necessary knowledge and experience to understand and appreciate the information contained within. These items are disseminated for personal reference only. They do not constitute an offer or solicitation to buy or sell financial products or services, nor an investment advice.
The use of the information disseminated takes place under the investor's sole responsibility, without recourse against SURPERFORMANCE SAS. SURPERFORMANCE SAS will not be liable, whether in contract, in tort, under any warranty, for errors, omissions, improper investments, or adverse evolution of markets.