Wall Street brakes: is it time for a transfer? Interesting titles

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Cocco Alessandro
S&P 500
NASDAQ
Dow Jones
MCDONALD'S

On Wall Street we must not take for granted new rises, given that in the short term the indices could retrace a bit and then start again. The analysis of Alessandro Cocco.

Below is an interview with Alessandro Cocco, a trader of Tag Group, to whom we asked questions about US stock indices and some US stocks.

On Wall Street the three main indices today have updated the historic highs again, only to fall back. What to expect now?

On Wall Street, new short-term gains cannot be ruled out after breaking the historic highs also for the Dow Jones and the Nasdaq Composite, which have joined the S & P500.

The setting is undoubtedly positive, but from the current values ​​it is also possible, especially for the S & P500, a retracement of the prices, which could be followed by a restart on the upside.

I would not take it for granted that the rise of the three main indices will continue immediately, and I would indicate very close uphill targets, bearing in mind that even the first supports are not far from the current values.

In the event of a retracement of the indices it would be a correction and not a collapse of the market that maintains a solid bullish structure.

For the S & P500, considering the volatility we have witnessed in the last few days, on the upside we can indicate a target of 3,150 points that could be reached within a week if the climb continues.

On the downside the index could fall back to area 3,000, but even before this threshold we have a support area between 3,000 and 3,040 points, from which the S & P500 could try to restart.

In the event of a fall of 3,000, attention will be paid to 2,960 points first and then to 2,920 points.



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https://www.trend-online.com/inte/cocco-alessandro-wall-street-051119/

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