One may even have the idea that today’s rise on Wall Street, the biggest one of last month, was due to the economic data that came out of US employment. The important non-farm payrolls, which were worse than expected, but it is not bad enough to evade the idea of gold over blue. What is? Good growth, somehow not so good that it will force the Fed to raise interest rates but may justify another fall in the price of money later this year. We know it has always pleased investors.
However, a brief look at the S&P500 chart, with the 200-day moving average and it is easy to see that today’s upward movement, which started yesterday, originated from the rebound of the index on that moving average line, a strong support zone. It will now be important to gauge whether after a correction, the rebound will be sufficient to bring the main equity index to historic highs.
