S&P 500 Index: Holding above 3850/3815 needed to extend the bounce – SocGen
|S&P 500 rebound has once again faltered near the September peak of 4120. The index must hold above the 3850/15 zone to sustain the bounce, economists at Société Générale report.
Receding upward momentum and possibility of a pause
“Daily MACD has dipped below its trigger line denoting receding upward momentum and possibility of a pause.”
“The 50-Day Moving Average near 3850/3815 should be an important support zone near term. Holding above this, the bounce could gradually persist towards the previous gap near 4218.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.