Technical Analysis

Goldman Sachs see ‘green shoots’ appearing for the S&P500

Goldman Sachs remarks on the benchmark US equity index

  • Some green shoots are appearing
  • The fact the US market was able to shrug off an epic HK -636bp overnight drawdown / China ADR unwind paired with the nuanced dovish shift in Fed tone last Friday …. (is) more constructive
  • feels like the floor has quickly been raised from S&P 3200 to 3500
  • (GS) corporate desk had very active week last week and this demand should increase as we come out of the blackout window on Halloween
  • (given the) current back drop … we see 3900 before we see 3700

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