Buy signals for S&P
The S&P 500’s 3.4% decline since August is meager in comparison to prior pullbacks, says Ari Wald, Technical Analyst at Oppenheimer, but it’s enough for his bottoming indicators to have reached buy-able thresholds.
2016
AUDUSD approaches key level
A daily close below key resistance for AUDUSD would bring 0.7050 into play as the next downside target, says Tony Sycamore, Director Institutional Foreign Exchange at Commonwealth Bank of Australia.
Pullback for equities
Numerous reversal patterns were left on last week’s charts, says Andy Dodd, Head of Technical Research at Louis Capital Markets, suggesting the start of a prolonged pullback in equities.
Reversal pattern forming on crude
An inverted head-and-shoulders pattern is forming on crude oil, says Tony Sycamore at Commonwealth Bank of Australia.
Bund: Upside targets
A move above key resistance has opened up bullish possibilities for the Bund, according to Andrew Gebhardt and Tom Read of HPC SA.
Bright outlook for India’s SENSEX
Stock markets are making new highs and looking bullish on most fronts but India’s SENSEX still remains one of the most attractive markets globally, says David Linton, Chief Executive at Updata.
Global breadth improving
European equities are breaking higher and Japan may follow suit shortly, according to Ari Wald, Technical Analyst at Oppenheimer.
US stocks lose momentum
Short-term price momentum has turned down for US stocks, according to Robert Colby, Chief Investment Strategist at Robert W. Colby Asset Management.
Bullish signal for US stocks
A positive S&P High Beta index versus the Low Volatility Index should be a bullish signal for the S&P500, says Ari Wald at Oppenheimer.
S&P500 targets 2300
A series of higher highs and lows plus the breakout from late June’s low means the S&P is now targeting 2300, according to Ron Meisels at Phases & Cycles.