A market top in US equities may still be several months away, according to a study by Ari Wald, Technical Analyst at Oppenheimer.
A break below key support would leave a long-term top in place for the STOXX Europe 600, according to Andy Dodd, Head of Technical Research at Louis Capital Markets.
The relief bounce in MSCI US and MSCI Europe was driven by a rally in defensive sectors, a bearish omen for risk sentiment according to Sejul Gokal, Chief Technical Strategist at GO-TechniKAL Insight.
The percentage of US stocks in oversold territory is at a multi-year high and, together with a jump in the VIX, could be viewed as a bullish signal, says Ari Wald, Technical Analyst at Oppenheimer.
The DAX is close to confirming a huge topping formation, says Frank Cappelleri, Chief Market Technician at Instinet.
Andy Dodd, Head of Technical Research at Louis Capital Markets, warns that a break below 2878.5 for the S&P 500 could be significant.
We are entering the most bullish nine-month period of the 4-year US Presidential cycle, says Ari Wald, Technical Analyst at Oppenheimer.
The S&P 500 remains in a bullish Wave V and should test 3000 into year-end, according to Tony Sycamore, Director of Australia-based TECHFX TRADERS.
Momentum remains an attractive late-cycle investment strategy, according to Ari Wald, Technical Analyst at Oppenheimer.
US stocks fells for four straight days last week – all trading days of the week because of Labor Day. Looking at historic data, this could be a bullish signal says Frank Cappelleri at Instinet in New York.