Based on the latest fund flows data, Michael Hartnett, Chief Investment Strategist at BofA Merrill Lynch Global Research, thinks it may soon be time to buy back into equities and risk assets.
It’s usual for the S&P 500’s uptrend to moderate following the start of Fed tightening, but it’s unusual for the first hike to coincide with a major market top, according to Ari Wald, Technical Analyst at Oppenheimer.
It’s hard to be bullish on crude oil says David Linton, Chief Executive at Updata, at least not until the seasonal cycle kicks upwards from around mid-January 2016.
A researchers from ETH Zurich have tested three Tom DeMark indicators for their predictive power in the commodity futures markets.
Cycles analysis suggests that crude oil may reach “a low of historic proportions in late 2016”, according to Walter Zimmermann, Senior Technical Analyst at United-ICAP.
Yesterday’s daily close above the 2015 high has added to bullish price momentum in USD/CAD, according to George Davis, Chief FIC Technical Analyst at RBC Capital Markets.
Last week’s sell-off took equity markets back to key supports, which largely held, however the medium-term upside appears limited, says Andy Dodd, Head of Technical Research at Louis Capital Markets.
The sharp decline in the USD index should test key support levels in the coming days that will determine its medium term direction.
The S&P should be set for gains in December if historical performance is anything to go by, says Ari Wald at Oppenheimer.
Crude is likely to come under further pressure, according to David Linton, Chief Executive at Updata.