Traders should go long Spanish 10 year government bond yields, according to Cornelius Luca, Global Chief Technical Analyst at Thomson Reuters.
Although internal breadth is mixed for US equities it’s not at a level of significant concern, says Ari Wald, Technical Analyst at Oppenheimer.
Recognia says the share price of Royal Bank of Scotland Group PLC is likely to rise from the close of 357.40.
The Technical Analyst notes with sadness the death of Goldman Sachs technical analyst, John Noyce.
We have just seen the largest weekly bond outflow ($5.9bn) in 18 months, according to Michael Hartnett, Chief Investment Strategist at BofA Merrill Lynch Global Research.
Keep an eye on the Dow Jones Industrial Average, warns Chris Williams, Senior Broker at Newedge, who says that the RSI is high and at a critical point where the market has failed before.
Numerous bullish signals exist for EURUSD despite the downtrend in all time frames, according to Andy Dodd, Head of Technical Research at Louis Capital Markets.
Market indicators remain supportive of a moderate overweight in US stocks and short-term pullbacks should continue to be buying opportunities, according to Andrew Burkly, Portfolio Strategist at Oppenheimer.
Peter Lee, Chief Technical Strategist at UBS in New York, says that we are probably in the “Mania” stage of a stock market bull rally – the final phase of an uptrend where greed turns to delusion and eventually presages a turn in the market.
The positive affect of seasonality on crude oil will not be enough to kick-start a sustained long-term uptrend, according to Ari Wald, Technical Analyst at Oppenheimer, who recommends selling into seasonal summer strength.