Software leads US market
Frank Cappelleri, Chief Market Technician at Instinet, thinks that Software stocks are the ‘true’ market leaders for US equities.
2019
European banks on the rise
The EURO STOXX Banks index (SX7E) is continuing its rally off the neckline of an inverse head-and-shoulders pattern with no clear resistance in sight until beyond 100.00, according to Andy Dodd at Louis Capital Markets.
USDRUB turns bearish
USDRUB has breached key support and is heading towards the 60.00 area, say David Sneddon, Pascal Zingg and James Gilbert at Credit Suisse in London.
S&P is overbought
The S&P 500 is overbought and bearish divergences are appearing, says Robert Colby, Chief Investment Strategist at Robert W. Colby Asset Management.
EURUSD re-establishes range
EURUSD’s recovery and consolidation above 1.1300/20 confirms the decline to the 1.1176 low was a false break, according to Tony Sycamore, at TECHFX TRADERS.
Global Macro View: Equities, Commodities & FX
London, 29 April 2019
DJIA targets 200-day MA
The Dow Jones Industrial Average is targeting its 200-day moving average at 25,125, according to James Dima, technical analyst at Marex Spectron.
EURUSD undervalued
EURUSD is undervalued according to EU-US yield curve dynamics, says George Davis, Chief FIC Technical Analyst at RBC Capital Markets.
Bearish signs for DAX
Despite the recent rally in the DAX, Andy Dodd, Head of Technical Research at Louis Capital Markets, remains bearish for German equities.
Copper at long-term resistance
A month-end close above 6,546 would be very bullish for Copper, says James Dima, technical analyst at Marex Spectron.