Cyclical forces will push US equities downwards for the rest of 2016 and into 2017, says Ron William, Technical Strategist at ECU Group in London.
Peter Lee, Chief Technical Strategist at UBS in New York, gives his technical outlook for 50 key stocks.
The longer-term outlook for Brent Crude has remained largely unchanged with a seasonal low expected in the second half of the year, according to David Linton, Chief Executive at Updata.
In the wake of the Brexit vote RBC Capital Markets has officially changed their Fed call and are now looking for the next hike to come in the middle of 2017 at the earliest.
Despite the magnitude of the selloff already seen, the risks for GBP are still to the downside and 1.20 to 1.25 is now the objective for late Q3, according to George Davis at RBC Capital Markets.
Following the UK’s decision to leave the EU, GBPUSD has already fallen through three key support levels and only one more significant level exists between here and parity, according to Andy Dodd at Louis Capital Markets.
Last week’s spike in the VIX triggered a buy signal for the S&P 500 because it occurred in an uptrend, says Ari Wald, Technical Analyst at Oppenheimer.
A failure to close above resistance at $49.9 on a weekly basis leads Andy Dodd, Head of Technical Research at Louis Capital Markets, to expect further downside for Crude.
The US equity markets are clearly not yet ready to make a convincing break to the upside, says Ron Meisels, President of independent research house Phases & Cycles.
When the S&P 500 reaches an all-time high, having spent at least a year below its prior peak, it’s performance going forward is significantly above-average, according to a study by Ari Wald, Technical Analyst at Oppenheimer.