Instrument: US100
Bullish Preference:
Buy position is envisaged if price trades above 16019.15 with take profit at 16036.89
Bearish Preference:
Sell position is envisaged if price trades below 159887.62 with take profit at 15973.39
Fundamentals:
New Home Sales
Comment:
Broadening of U.S. stock rally feeds investor optimism
NEW YORK Signs the U.S. stock market rally is broadening from the so-called Magnificent Seven of mega-cap growth and technology companies is bolstering investor hopes for a rally through year-end.
Equities have risen sharply, fueled by falling Treasury yields and cooling inflation readings that could signal the end of Federal Reserve rate hikes. Yields fall when Treasury prices rise, and the lower returns on guaranteed fixed-income investments make stocks more appealing.
Analysis: SCRUM Team