The S&P 500 remains range-bound and will likely fall back towards key support at 2824.25, according to Andy Dodd, Head of Technical Research at Louis Capital Markets.
In the latest Global Markets Report from Robert Colby Asset Management, they highlight that the recently inverted US yield curve not only historically signals a forthcoming recession, but also a falling stock market in anticipation of a recession.
FTSE’s breakdown below key support levels suggests an intermediate-term shift to bearish has occurred, says Steve Miley, CEO of Market Chartist.
The S&P 500 is retesting resistance from its broken uptrend and signs of topside rejection are appearing, according to Tony Sycamore, Director of Australia-based TECHFX TRADERS.
The unprecedented divergence between the performance of various equity market segments offers a once in a decade opportunity to position for convergence, say Marko Kolavonic and Bram Kaplan at J.P. Morgan in New York.
The relative outperformance of Indian equities may soon be at risk, according to Sejul Gokal, Chief Technical Strategist at GO-TechniKAL Insight.
The S&P 500 is hovering around the record 3000 level and a break below here risks a move back down to 2351, according to Ron William, director at RW Advisory.
The S&P500 failed to break the 3000 level last week although 3030/3050 is the level to look for, says Tony Sycamore of Tech-FX Trading.
The Italy MIB Index has broken its downtrend from last year and may begin a significant bullish run, say David Sneddon and his team at Credit Suisse in London.
The FTSE 100 is still aiming higher after a surge on Tuesday above the August 2018 swing high at 7500, says Steve Miley at The Market Chartist.