Nasdaq falls below critical support
Aggressive selling has resulted in a closing break below critical support on the Nasdaq 100, according to David Sneddon, Pascal Zingg and James Gilbert at Credit Suisse in London.
2018
Rising selling interest for Tech sector
The Technology sector behaved extremely bearishly yesterday with 100% of its constituent stocks falling in price, according to Sejul Gokal, Chief Technical Strategist at GO-TechniKAL Insight.
Limits to S&P correction?
The S&P has undergone a significant shift in sentiment but the 2500 level may provide key support, according to George Davis, Chief FIC Technical Analyst at RBC Capital Markets.
S&P relatively strong
Though weak participation in the next S&P 500 rally could warn of a large market top, Ari Wald, Technical Analyst at Oppenheimer, still views the S&P 500 as one of the strongest equity markets in the world.
USD holds support
David Sneddon and James Gilbert at Credit Suisse in London remain bullish on the USD after the Bloomberg Dollar Index (BBDXY*) surges higher and holds neckline support from its large head-and-shoulders base.
3.25% is key for US 10 Year
A potential double top in US yields is forming, says Tony Sycamore, Director of Australia-based TECHFX TRADERS.
Monitor for bullish signal on Brent spread
A short-term rally is imminent for the Z19/20 Brent crude calendar spread, according to James Dima, technical analyst at Marex Spectron.
DAX targets 9790
The recent completion of a head-and-shoulders pattern on the DAX gives a medium- to long-term target of 9790, according to Andy Dodd, Head of Technical Research at Louis Capital Markets.
Put/Call firepower for S&P
Ari Wald, Technical Analyst at Oppenheimer, thinks investor anxiety in October will be replaced with the realization that it’s still too early for recessionary concerns.
Cable heads back up
GBP/USD is poised to return to the upper end of its Brexit trading range, according to George Davis, Chief FIC Technical Analyst at RBC Capital Markets.