S&P 500: Should decrease by 0.7%
Bearish under 2086 PTS Target Price: 2058 PTS |
While the European markets are losing ground today in the wake of oil stocks and uncertainty about Greece, the S&P 500 is expected to register a 0.7% decline in early trade.
It had rebounded 0.39% to 2079 points yesterday, in the absence of major macroeconomic publication.
As for statistics, only Wholesale Inventories will be published at 10:00 AM EDT (0% consensus).
Graphically, the momentum remains bearish in daily data under the 2086 points, level corresponding to the 20-hour moving average. As it stands, the consolidation trend is expected to continue in the direction of 2058/2050 points, support area found in daily data.
© MarketScreener.com -
2015
The content herein constitutes a general investment recommendation, prepared in accordance with provisions aimed at preventing market abuse by Surperformance, the publisher of MarketScreener UK. More specifically, this recommendation is based on factual elements and expresses a sincere, complete, and balanced opinion. It relies on internal or external data, considered reliable as of the date of their release. Nevertheless, this information, and the resulting recommendation, may contain inaccuracies, errors, or omissions, for which Surperformance cannot be held responsible. This recommendation, which in no way constitutes investment advice, may not be suitable for all investor profiles. The reader acknowledges and accepts that any investment in a financial instrument involves risks, for which they assume full responsibility, without recourse against Surperformance. Surperformance commits to disclosing any conflict of interest that may affect the objectivity of its recommendations.
