{"id":140012,"date":"2019-01-11T10:35:58","date_gmt":"2019-01-11T15:35:58","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=140012"},"modified":"2019-01-11T07:07:46","modified_gmt":"2019-01-11T12:07:46","slug":"sp500-analysis-strong-data-bullish-for-sp500-stock-market","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2019\/01\/sp500-analysis-strong-data-bullish-for-sp500-stock-market\/","title":{"rendered":"SP500 Analysis – Strong data bullish for SP500 Stock Market"},"content":{"rendered":"
January 11, 2019<\/div>
\r\n<\/div><\/div>

By <\/strong>IFCMarkets<\/strong><\/a><\/p>\n

Strong data bullish for SP500<\/strong><\/p>\n

Better than expected December jobs report and ample new job openings attest to US economy strength. Will the SP500<\/a> continue the rebound?<\/p><\/blockquote>\n

The minutes of Federal Reserve December 19 meeting were seen as more dovish than expected: \u2018many\u2019 officials thought they could be \u2018patient\u2019 on interest rates going forward, before the market slump in Christmas holiday period. They recommended the central bank should be \u201cpatient\u201d and \u201ca relatively limited amount of additional tightening\u201d is appropriate. Latest US economic data indicated US economy is strong: better than expected jobs report showed 319000 new jobs were created in December, more than expected. And while the Institute of Supply Management’s reading of manufacturing came in lower as was expected, the decline was recorded from a historically high level, and the reading pointing to continued robust expansion in manufacturing sector. The same is true for the services sector. And latest Job Openings and Labor Turnover Survey indicated the number of new job openings still outnumbered unemployed Americans in November despite a decline from October. Positive economic data are bullish for US stock index.<\/p>\n

\"SP500<\/p>\n

On the daily timeframe the SP500: D1<\/b> is above the 38.2 Fibonacci level, this is bullish.<\/p>\n