Market Pulse on September 24th

Olivier Rigot, EMC Gestion de Fortune

1 minute de lecture

S&P 500 2966,6 -25,18.

The stock market tried to rally early in the session before the news broke out that Mr Trump may get impeached, jeopardizing the scenario of a retest of the highs. The scenario we envisioned a couple of days ago is now in force with a target of 2930-50 area that used to be a ceiling during the month of August. Systematic models have now turned down and this may bring some additional selling pressure from market participants using this approach. Our risk profile index is improving and skepticism among traders and investors is certainly going to increase over the next few days, a good news for contrarians.

 

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