S&P 500: Tiny decrease at the openning
Published on 01/21/2015
at 07:52 pm IST
Bearish under 2040 PTS Target Price: 1992 PTS |
After spending most of the session in the red and finally closed up 0.15% to 2022 points the S&P 500 is expected to open by a decrease of 0.25% today, in the wake of European markets.
Indeed, seems to take care about the decision of the ECB's monetary policy tomorrow.
As for statistics, Building Permits has been released at 1.03M against 1.06M expected. However, Housing Starts were slightly higher than expected (1.09M against 1.04M anticipated).
Graphically, as mentioned yesterday, the S&P 500 failed to rally to the 2040 points level which coincides with a downward trendline as well as the 100-hour moving average. In this current zone, we maintain a bearish bias towards the 1992 points as first goal.
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2015
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