S&P 500 concluded last week at 4,320. Economists at Société Générale analyze the index’s outlook. 4,200 is crucial support S&P 500 carved out a lower
S&P 500 concluded last week at 4,320. Economists at Société Générale analyze the index’sS&P 500 carved out a lower high near 4,540 as compared to the one in July near 4,610 resulting in a deeper pullback. Break below August trough denotes persistence in downward momentum; this is also highlighted by daily MACD which has dipped below equilibrium line.
Confluence of graphical levels and the 200-DMA near 4,200 is an important support. In case the index establishes below this, there would be risk of an extended downtrend.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.
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