A contrarian buy signal has been triggered for global equities, according to Michael Hartnett, Chief Investment Strategist at BofA Merrill Lynch Global Research.
New highs should be achieved later in the year for US equities, according to Ron Meisels, President of independent research house Phases & Cycles.
The S&P 100 has underperformed the S&P 500 for over two years, but the mega-cap stocks could now be at the beginning of an outperformance cycle, according to Peter Lee, Chief Technical Strategist at UBS.
The postive correlation between the S&P500 and HFRI Composite monthly returns suggests that when the market low has been reached, this can be identified by a reading of around 0.6, says Riccardo Ronco at Aviate Global.
Sector dispersion for the S&P is at a five year high and this is why sector and stock selection is even more important than usual, says Ari Wald, Technical Analyst at Oppenheimer.
Gold is poised for a powerful wave downwards, according to Walter Zimmermann, Senior Technical Analyst at United-ICAP’s.
USDCAD has finally cleared an area of congestive resistance, says George Davis, Chief FIC Technical Analyst at RBC Capital Markets, propelling prices close to his technical target at 1.2650.
The long-term outlook for EURO STOXX 50 is still bearish and medium-term rallies will provide a good opportunity to sell, says Andy Dodd, Head of Technical Research at Louis Capital Markets.