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Activity in European futures hint at a flat open on Wednesday, as investors look for strong PMI prints, ideally above the 50-expansion mark for June...
The US indices extended their advance, as investors chose to concentrate on improving and mostly better than expected economic data rather than the alarming rise in Covid-19 cases in the US and warnings that the situation may be getting out of control...
Pivot (invalidation): 38.85 Our preference Long positions above 38.85 with targets at 40.10 & 40.90 in extension. Alternative scenario Below 38.85 look for further downside with 38.20 & 37.60 as targets...
Pivot (invalidation): 18.0700 Our preference Long positions above 18.0700 with targets at 18.3200 & 18.5000 in extension. Alternative scenario Below 18.0700 look for further downside with 17.9000 & 17.7600 as targets...
Pivot (invalidation): 1772.00 Our preference Long positions above 1772.00 with targets at 1793.00 & 1800.00 in extension. Alternative scenario Below 1772.00 look for further downside with 1764.00 & 1758.00 as targets...
Pivot (invalidation): 3068.00 Our preference Long positions above 3068.00 with targets at 3126.00 & 3156.00 in extension. Alternative scenario Below 3068.00 look for further downside with 3032.00 & 3000.00 as targets...
Pivot (invalidation): 12350.00 Our preference Short positions below 12350.00 with targets at 12090.00 & 12020.00 in extension. Alternative scenario Above 12350.00 look for further upside with 12450.00 & 12520.00 as targets...
Pivot (invalidation): 6.8590 Our preference Short positions below 6.8590 with targets at 6.8350 & 6.8250 in extension. Alternative scenario Above 6.8590 look for further upside with 6.8720 & 6.8840 as targets...
Pivot (invalidation): 0.6885 Our preference Long positions above 0.6885 with targets at 0.6915 & 0.6930 in extension. Alternative scenario Below 0.6885 look for further downside with 0.6860 & 0.6840 as targets...
Pivot (invalidation): 1.3595 Our preference Short positions below 1.3595 with targets at 1.3550 & 1.3530 in extension. Alternative scenario Above 1.3595 look for further upside with 1.3615 & 1.3640 as targets...
Pivot (invalidation): 0.9485 Our preference Short positions below 0.9485 with targets at 0.9460 & 0.9445 in extension. Alternative scenario Above 0.9485 look for further upside with 0.9500 & 0.9515 as targets...
Pivot (invalidation): 107.95 Our preference Short positions below 107.95 with targets at 107.50 & 107.30 in extension. Alternative scenario Above 107.95 look for further upside with 108.15 & 108.40 as targets...
Pivot (invalidation): 1.2355 Our preference Long positions above 1.2355 with targets at 1.2405 & 1.2435 in extension. Alternative scenario Below 1.2355 look for further downside with 1.2325 & 1.2285 as targets...
Pivot (invalidation): 1.1250 Our preference Short positions below 1.1250 with targets at 1.1220 & 1.1200 in extension. Alternative scenario Above 1.1250 look for further upside with 1.1265 & 1.1275 as targets...
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In this respect, the Chinese manufacturing and services PMI expanded quicker than expectations in June according to the official data...
A robust 44% rebound in US pending home sales has been the major driver of gains in US equities on Monday. The data wiped out the Covid-19 concerns, pushing the Dow 2.32% up. The S&P500 gained 1.47% as Nasdaq ended the session 1.20% higher...
Pivot (invalidation): 38.80 Our preference Long positions above 38.80 with targets at 39.90 & 40.50 in extension. Alternative scenario Below 38.80 look for further downside with 38.20 & 37.60 as targets...
Pivot (invalidation): 17.7500 Our preference Long positions above 17.7500 with targets at 17.9700 & 18.0700 in extension. Alternative scenario Below 17.7500 look for further downside with 17.6700 & 17.5500 as targets...
