Yesterday, the American stock market was dominated optimistic mood among market participants.
So yesterday published data on the index of production prices, which fell by 0.9%, which was better than the expectations of experts. At the same time, data on construction have been worse than expected, and what drew the attention of market participants.
Today, market participants pay attention to the publication of data on consumer price index.
At the end of trading session, U.S. stock indices closed in the black /Dow Jones 0.9%, S P500 1.01%, NASDAQ 1.29% /.
From the technical point of view, as we anticipated yesterday, Dow Jones index made a retest range of 9210-9217 points, where the line is responsible for the double peak formation.
In addition, on Friday, Dow Jones index fell for the first correction level for the Fibonacci 23.6% of the growth of 8 July, and then organized a rebound.
In addition, the MACD indicator will be formed Bull divergence and Stochastic's indicator is in the sale, which allows the resumption of decline.
At day schedule optimists believe that the correction will increase from 8 July to 9120-8925-8763 items, representing 23.6% -38.2% -50% of Fibonacci, and then will wait for a new round of growth in 9600-10450 points . Nevertheless, we believe that it is time of bulls are gradually coming to an end.
At the afternoon schedule on indicator MACD bear divergence. Indicator Stochastic's are on sale.
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