S&P 500 Intraday: The downside prevails

Swissquote Bank Research Team Swissquote Bank Ltd

DAX

Technical rebound in a bearish trend.

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Pivot (invalidation): 10905.00

Our preference
Long positions above 10905.00 with targets at 11057.00 & 11150.00 in extension.

Alternative scenario
Below 10905.00 look for further downside with 10850.00 & 10770.00 as targets.

Comment
The RSI is around its neutrality area at 50%

S&P 500

The downside prevails.

Pivot (invalidation): 2719.00

Our preference
Short positions below 2719.00 with targets at 2695.00 & 2682.00 in extension.

Alternative scenario
Above 2719.00 look for further upside with 2731.00 & 2740.00 as targets.

Comment
The RSI is bearish and calls for further downside.

Author

Swissquote Bank Research Team

Swissquote Bank Ltd

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