Trading session on Wednesday was characterized by high demand for risky assets, which contributed geopolitical optimism on the background of easing tensions in the Hong Kong and British legislators approved the bill on Brexit postponement until January 2020. Given that the earlier "foundation" was exclusively gloomy tones above background defuse the situation and allow customers time to seize the initiative.
As a result, the SP500 index overcame the resistance in 2950 and is clearly aimed at the movement to 3,000 points. Growth factor were also made by data from China, according to which the Chinese service sector grew in August at the fastest pace in three months, which eased the situation of the economy with the continued decline of the manufacturing sector. Meanwhile, the "beige book" The Fed, released Wednesday, showed that the US economy grew at a modest pace last month as the manufacturing sector has experienced the effects of the global slowdown, as consumer spending gave mixed signals.
On the future dynamics of the index SP500 can affect today's report on activity in the services sector ISM, the output of which is scheduled for 17:00 GMT. Recall, on Tuesday, the pressure on the US stock market had data on ISM manufacturing index, pointed to a maximum of the last three years of slowdown in the US industry. In the event of similar data and services, market participants will have to think again about the risk of an approaching recession.
SP500 SellStop 2940 TP 2820 SL 2980
Analytical reviews and comments reflect the personal opinion of the authors and are not a recommendation to trade. Author trader analyst Artem Deev company AMarkets . Traders community is not responsible for any losses in the case of the review of materials
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