Big week for S&P
Providing the S&P 500 does not close below 2590 there is a good chance of a rally back towards 2770 in the week ahead, says Tony Sycamore, Director of Australia-based TECHFX TRADERS.
Equities
Market tops take time
A market top in US equities may still be several months away, according to a study by Ari Wald, Technical Analyst at Oppenheimer.
European equities in peril
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.
Defensive sectors rally
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.
US stocks at oversold extreme
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.
All eyes on DAX
The DAX is close to confirming a huge topping formation, says Frank Cappelleri, Chief Market Technician at Instinet.
S&P long way from 200-day MA
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.
Seasonal tailwind for US equities
We are entering the most bullish nine-month period of the 4-year US Presidential cycle, says Ari Wald, Technical Analyst at Oppenheimer.
S&P to test 3000
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.
Don’t abandon momentum
Momentum remains an attractive late-cycle investment strategy, according to Ari Wald, Technical Analyst at Oppenheimer.