S&P 500: An additional decrease
Published on 01/16/2015
at 08:04 pm IST
Bearish under 2050 PTS Target Price: 1972 PTS |
After 5 consecutive sessions of decline and fall of 0.92% to 1992 points yesterday, the S&P 500 should continue its momentum. Indeed, futures contracts are showing an initial decline of 0.3%.
As for statistics, the Consumer Price Index emerged down 0.4% against -0.3% expected. Operators will know the Industrial Production evolution at 09:15 AM EST which is expected to grow by 0.1% and at 09:55 AM EST, the University of Michigan Consumer Sentiment anticipated at 94.2.
Graphically, the momentum remains negative under 2050 and even 2025 points in hourly data. The 1972 points remain for now in sight, a major support area that we found in hourly data.
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