The relief bounce in MSCI US and MSCI Europe was driven by a rally in defensive sectors, a bearish omen for risk sentiment according to Sejul Gokal, Chief Technical Strategist at GO-TechniKAL Insight.
Emerging market currencies have formed a base and look ready to trend higher, according to David Sneddon and James Gilbert at Credit Suisse in London.
The percentage of US stocks in oversold territory is at a multi-year high and, together with a jump in the VIX, could be viewed as a bullish signal, says Ari Wald, Technical Analyst at Oppenheimer.
USD/JPY is weakening as risk aversion increases, according to George Davis, Chief FIC Technical Analyst at RBC Capital Markets.
The DAX is close to confirming a huge topping formation, says Frank Cappelleri, Chief Market Technician at Instinet.
A rally is imminent for the Gasoline / Heating Oil spread, according to James Dima, technical analyst at Marex Spectron.
Andy Dodd, Head of Technical Research at Louis Capital Markets, warns that a break below 2878.5 for the S&P 500 could be significant.
10-year Italian bond yields are breaking above crucial support, according to David Sneddon and James Gilbert at Credit Suisse in London.
The US 10-year yield is likely to undergo a pullback before reaching 3.9%, according to Frank Cappelleri, Chief Market Technician at Instinet.
Brent Crude is overbought and this condition is unlikely to last for much longer, says James Dima, technical analyst at Marex Spectron.