- Analytics
- News and Tools
- Market News
- S&P 500 Index to fall towards the 200-DMA at 3106 - Credit Suisse
S&P 500 Index to fall towards the 200-DMA at 3106 - Credit Suisse
FXStreet notes that S&P 500 has extended its decline following its expected rejection of resistance at 3319/29. Economists at Credit Suisse stay biased lower for a deeper corrective setback with support seen at 3204/00 and eventually the 200-day average at 3106.
“The S&P 500 has extended its setback after being capped as expected at near-term resistance at 3319/29 and with the falling 13-day average now also here and with a large bearish ‘outside day’ established we continue to look for a deeper corrective setback.”
“Support is seen initially at 3230 initially, then yesterday’s low at 3209, which is just ahead of our next objective at 3204/3198, which we continue to look to hold at first. A break in due course though can expose the 200-day average at 3106, ahead of which we would look to establish an important floor.”
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
