S&P 500: A tiny decrease expected
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Check out the trading range breakout
1920 / 1960
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The S&P 500 has finished up yesterday of 1.23% at 1951 points. This increase welcomes corporate earnings generally above analysts' expectations. The recovery remains dynamic and the "risk on" mode enabled a sharp VIX drop below 17.
The pre-opening gives a slightly negative indication with an expected 0.10% decline. For this afternoon, only the New Home Sales figures will be published at 10:00 AM EDT.
Technically, the S&P 500 just won over 130 points in a straight line which validates a dynamics V-bottom pattern. A legitimate consolidation could be developed under 1960 points. A return on the 1927 point would be the basis for a possible rebound. Only the breakdown of the 1920 points area could degrade the short-term trend toward 1900 points.
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2014
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