S&P 500: Should decrease by more than 1%
Published on 01/28/2015
at 01:20 am AEDT
Bearish under 2065 PTS Target Price: 2031 PTS |
While the European markets are in the red today after eight days of increase, the S&P 500 is expected to open down 1%. The US index finished up 0.26% to 2057 points yesterday.
Operators reduce their exposition due to Ukraine tension whereas the European Commission would explore new sanctions against Russia.
On the macroeconomic front, Durable Goods Order emerged down 3.4% against 0.6% expected. At 10:00 AM EST the Conference Board Consumer Sentiment and New Home Sales will be released.
Graphically, as mentioned yesterday, breaking 2045 points today suggests the beginning of a new consolidation phase. Under 2030 points, level which coincide with the 50 and 100-hour moving average, we can expect a new bearish acceleration towards the 2013 points and 1992 points.
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2015
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