Instrument: US100
Technical Analysis
Bullish Preference:
A Buy position is envisaged if price trades above 12163.91 with take profit at 12215.49
Bearish Preference:
A Sell position is envisaged if price trades below price 12007.00 with take profit at 11945.61
Fundamentals:
1:30pm
USD Average Hourly Earnings m/m
USD Non-Farm Employment Change
USD Unemployment Rate
Comment:
Fresh volatility in U.S. stocks is pushing some investors to hunker down in areas of the market that have been relatively strong during a brutal year for equities, including energy shares, defensive names and dividend-payers. The S&P 500 is down 9% since mid-August, partially reversing a summer rebound after Federal Reserve Chairman Jerome Powell warned the central bank’s single-minded fight against inflation could lead to economic pain. While few sectors of the market have been spared during the index’s nearly 18% selloff this year, some have fared comparatively better, a dynamic investors hope will blunt further losses in their portfolios if asset prices remain volatile.
Analysis: SCRUM Team
