S&P 500 : Uncertainty about trade leads to caution
Check out the trading range breakout
2918 / 2967
|
The solid monthly U.S. employment report released on Friday partially reassured operators about the U.S. economy and helped the S&P500 index regain 1.42% to 2952 points. The weekly loss was thus considerably reduced (-0.3%), despite the heavy dislocations that occurred after the announcement of a new contraction in manufacturing activity in the United States.
The S& P500 index should hit a downward trend of around 0 this week.25%, with the remaining caution required as trade negotiations approach on Thursday.
Macro-economic level, the consumer credit will be deflated at 9pm (consensus 14.9B) and Jerome Powell will address the annual conference of the National Association for Business Economics at 7pm
From a graphic point of view, the S&P500 is also in the technical recovery phase. In the very short term, we will closely follow the exit of the 2918/2967 points to act. An exit from the top of this area could allow the index to return to its historical records. Otherwise, below 2918 points, further disengagements could quickly bring the index back to last week’s lows.
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.