Technical Update - S&P500, Dow Jones and Nasdaq 100
Kim Cramer Larsson
Technical Analyst, Saxo Bank
Summary: Despite US Markets soaring 3-3.5% yesterday closing few points below minor resistance levels. All Moving Averages are declining meaning underlying bearish trend and sentiment. Will rebound be extended or run out of steam?
S&P500 closed a few points below minor resistance at 4,309. If Index closes above it is not unlikely to move a higher to 4,400-4,450 before rebound runs out of energy. Divergence on RSI indicates rebound could
If it doesn’t close above selling pressure is likely to resume and to intensify if trading back below 4,164.
Dow Jones closed a few points below minor resistance at 34,100 touching 21 and 55 SMA that are both falling. A daily close above could extend the rebound to 34,500-35,000. If it fails to close above selling pressure is likely to resume
Nasdaq 100 Closed almost spot on the minor resistance at 13,543. IF it closes above rebound could extend the rebound to around 14,000-14,300. However, all Moving Averages are falling i.e. underlying trend still bearish.
Quarterly Outlook Q2 2022
Quarterly Outlook Q2 2022: The End Game has arrived
- Shocks from covid and the war in Ukraine have forced the global financial and political world to change, but what will the end game be?
Productivity and innovation have never been more importantAs the world economy hits physical limits and central banks tighten their belts, could equities be facing a 10-15% downside?
The great EUR recovery and the difficulty of trading itIf the terrible fog of war hopefully lifts soon, the conditions are promising for the euro to reprice significantly higher.
Tight commodity markets – turbocharged by war and sanctionsWith supply already tight, commodities keep powering on. But will it last for yet another quarter?
Between a rock and a hard placeGeopolitical concerns will add upward price pressures and fears of slower growth, while volatility will remain elevated.
The Great ErosionInflation is everywhere and central banks try to combat it. But will they get it under control in time?
Australian investing: Six considerations amid triple Rs: rising rates, record inflation and likely recessionWhile global financial markets are struggling in an uncertain world, the commodity-heavy Australian ASX index is poised to keep a positive momentum.
Cybersecurity – the rush to catch up with realityWith the invasion of Ukraine, governments and private companies are rushing to reinforce their cyber defenses.