S&P 500 Intraday: Consolidation

Swissquote Bank Research Team Swissquote Bank Ltd

DAX

The downside prevails.

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Pivot (invalidation): 12360.00

Our preference
Short positions below 12360.00 with targets at 12220.00 & 12120.00 in extension.

Alternative scenario
Above 12360.00 look for further upside with 12420.00 & 12480.00 as targets.

Comment
As Long as 12360.00 is resistance, look for choppy price action with a bearish bias.

S&P 500

Consolidation.

Pivot (invalidation): 2930.00

Our preference
Long positions above 2930.00 with targets at 2973.00 & 2990.00 in extension.

Alternative scenario
Below 2930.00 look for further downside with 2910.00 & 2897.00 as targets.

Comment
The RSI calls for a new upleg.

Author

Swissquote Bank Research Team

Swissquote Bank Ltd

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