Market Pulse on March 20th

Olivier Rigot, EMC Gestion de Fortune

1 minutes de lecture

S&P 500 2716.94 +4.02.

The stock market closed almost unchanged in quiet trading, market participants are awaiting anxiously the press conference of Mr Powell after his first meeting as Fed chairman. The stock market stands on a pivotal point and there is a scenario that prices may accelerate on the downside swiftly which would, in our opinion definitively wash out the excesses of the January rally and open the door to a good entry point. The other possibility is that the market continues to trade in a range until it gets the conviction that the path of interest rate adjustment is a done deal, in that case the process may last months and frustrate bulls and bears in the meantime. As our model is neutral, we don’t get many clues on this side but the good news is that we’ll soon get the answer…