Tony Sycamore, Director of Australia-based TECHFX TRADERS, thinks the S&P 500 has completed its correction and the medium-term outlook is now bullish.
A bullish chart pattern has completed on the Hang Seng Index but tough resistance remains not far above current levels, say David Sneddon and his team at Credit Suisse in London.
Following a strong price move on Friday, European banks look set for further gains, according to Andy Dodd, Head of Technical Research at Louis Capital Markets.
The S&P has rallied strongly since Boxing Day, rebounding from its most oversold extreme since 2011, but George Davis at RBC Capital Markets asks whether the rally is just a bear market correction.
A medium-term target of 9799 in still in place for the DAX though more upside is possible in the short-term, according to Andy Dodd, Head of Technical Research at Louis Capital Markets.
US 10 year yields are extremely oversold and this may give the S&P an opportunity for a fresh bull run, says Frank Cappelleri, Chief Market Technician at Instinet.
The Hang Seng China Enterprise Index has broken through key support and will likely target 9882 and possibly much lower, according to David Sneddon, Pascal Zingg and James Gilbert at Credit Suisse in London.
The S&P500’s close below 2604 has confirmed a head-and-shoulders top, say analysts at Credit Suisse.
A bullish short-term pattern has been confirmed for the S&P 500, according to Frank Cappelleri, Chief Market Technician at Instinet.
Following a MACD buy signal in September, other elements are falling into place to suggest an emerging markets recovery may be close, according to David Sneddon and his team at Credit Suisse in London.