The S&P 500 is expected to go through a recovery phase. But a sustained break to the downside is expected in the fourth quarter, with 3235/3195 as the target level of the team of analysts Credit Suisse.
The S&P 500 could enjoy a temporary recovery phase
“Although our broader outlook remains bearish, we continue to expect a temporary recovery phase to emerge for the early part of Q4, especially given the divergences in bullish momentum. However, after this anticipated strength, we expect a sustained move.” below 3595 in due time for a drop to our main target of a bunch of supports at 3235/3195.”
“A threefold momentum divergence from the weekly RSI suggests that early in Q4 we should see a temporary recovery phase.”
Source: Fx Street
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