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Dec US Consumer confidence could help S&P 500 to extend its rebound

Discussion in 'Current Market Sentiments' started by fx-recommends, Dec 30, 2015.

  1. fx-recommends

    fx-recommends Content Contributor

    Aug 6, 2008
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    SP-Mar16 Daily 30-12-2015 07-42-48 ص.jpg

    The Fed's decision to raise its funds rate to 0.5% could form downside pressure on the US equities, as the Fed's weaker accommodative stance can undermine the assets price and slowdown the economic activity in US, while the higher USD yields can make it well-buoyed.

    SP-Mar16 could extend its rebound from 1991 reaching 2074.65, after surpassing its previous lower high which has been formed at 2072.50 on Dec.17.

    SP-MAR16 rising yesterday could drive it to get over its daily SMA50, after it could rise above its daily SMA100 and daily SMA200 previously following forming a higher bottom at 1991 above 1983.25 which has been reached on Dec. 14

    Important levels: MA50 @ 2062.80, MA100 @ 2017.41 and MA200 @ 2054.32


    S1: 2035.15
    S2: 1991
    S3: 1981.88
    R1: 2079.50
    R2: 2095.25
    R3: 2104.75

    Have a good day

    Walid Salah El din
    Senior Market Analyst
    Skype : chief.economist.walid

    Tel: UK. +44 1138590277
    Mob: EGY. +20 1224659143

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