The S& P500 Future is trading up 0.11%. After opening in positive territory, the DAX dropped, briefly trading under 10500. Buyers were seen under 10500, lifting the market back above this support level by lunch time. Other European markets showed greater weakness. US consumers remain the strongest support for US economic growth. Consumption rose 0.4% in July on a month on month basis. This was the fourth monthly gain in a row. Personal income also grew, rising 0.5% on average. This data did not influence markets. The USD continues to trend firmer against the Euro and the Yen. Gold is unchanged and WTI Oil drops -1.26%. We expect a positive start to Wall Street.
The S& P500
The S&P500 is in an upwards trend. Short term we are in a sideways move. Resistance is at 2197 and support is to be found at 2150.
The Nasdaq 100 is in an upward trend. Short term we see a sideways move. Resistance is at 4837 and support is to be found at 4767.
RoboForex Analytical Department
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