S&P 500 levels: The upside prevails

Swissquote Bank Research Team Swissquote Bank Ltd

DAX

The bias remains bullish.

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Pivot (invalidation): 11950.00

Our preference
Long positions above 11950.00 with targets at 12130.00 & 12210.00 in extension.

Alternative scenario
Below 11950.00 look for further downside with 11880.00 & 11800.00 as targets.

Comment
Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

S&P 500

The upside prevails.

Pivot (invalidation): 2892.00

Our preference
Long positions above 2892.00 with targets at 2916.75 & 2925.00 in extension.

Alternative scenario
Below 2892.00 look for further downside with 2880.00 & 2866.00 as targets.

Comment
The RSI is supported by a bullish trend line.

Author

Swissquote Bank Research Team

Swissquote Bank Ltd

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