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.
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