We are approaching territory where the market is overly-bearish on Crude, says David Linton, Chief Executive at Updata. After all, “What new bad news is out there that we don’t already know about?”
The AUD is ‘utterly oversold’ and may soon reverse course, according to Riccardo Ronco, Head of Technical Analysis at Aviate Global.
From an asset allocation point of view, one day there is going to be an important event which will signal it’s time to rotate into commodities, according to Riccardo Ronco at Aviate Global.
The S&P 500 is approaching the neckline of a potential head-and-shoulders top, according to Brian LaRose, Technical Analyst at United-ICAP.
The multi-year outperformance of US equities relative to gold is beginning to show signs of a correction, as prices settle back from the year low of May 2006, says Mike Macdonald at XATSUK.
The S&P500 may have further to fall in the longer-term after last week’s 6% decline as it approaches key support levels, says Andy Dodd at Louis Capital Markets.
Technical breadth indicators are suggesting an increased risk of an equity cyclical bear market, according to Chris Watling at Longview Economics.
The case for a new high in US stocks still exists but remains weak, according to Walter Zimmermann at United-ICAP.