After the moderate growth of both American and Ukrainian stocks on Wednesday morning, buyers’ appear to be in a preferable position. At the same time, the dynamics of the S&P 500 Index are still of a so-called corrective character – modest growth after a strong decline usually indicates a correction in relation to the direction of the main movement, but not about a complete turn.
For our part, we are not ready to bet on the resumption of fire-sale in the near future and we believe that active traders should be careful. If futures on the S&P 500 cannot be fixed above the 1,380-1,385 range in the next few days, then we will have to deal with a head and shoulders formation, which significantly worsens the picture, technically speaking.
