There are as many national indices with severe downside risk as there are bullish and neutral indices combined, according to Walter Zimmermann, Senior Technical Analyst at United-ICAP.
The major US and European equity markets are approaching important medium-term resistance levels and we should expect a period of correction, according to BNP Paribas.
The US yield curve is too flat, according to Chris Williams, Senior Broker at Newedge.
Brent crude is looking very bearish, but seasonal cycles may result in a recovery from mid-January, according to David Linton, Chief Executive at Updata.
Although the bullish trend for the S&P 500 remains strong in the medium-term, Peter Lee, Chief Technical Strategist at UBS in New York, thinks that near-term overbought conditions may trigger a sizeable pullback.
Despite ominous signs from widening US credit spreads, the S&P 500’s trend remains firmly bullish and it is financials that will bring the best performance, according to Ari Wald, Technical Analyst at Oppenheimer.
The S&P’s uptrend appears to be intact, according to Andy Dodd, Head of Technical Research at Louis Capital Markets, but concerns remain.
A potential buying opportunity may soon arise for gold, according to Ron William of RW Advisory.
Recent months have seen a sharp fall in Light Crude prices, but long-term charts suggest the bears may have run their course and a rebound may unfold, according to Karman Sheikh, Technical Strategist at Informa Global Markets.
The benchmark US Treasury yield is bucking the global trend in interest rates, but Michael Sacchitello at Stone McCarthy Research Associates is not yet convinced this heralds a new upward trend in US rates.