Outrageous Predictions
Switzerland's Green Revolution: CHF 30 Billion Initiative by 2050
Katrin Wagner
Head of Investment Content Switzerland
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Technical Analyst, Saxo Bank
S&P 500 closed higher Friday just touching the 100 daily SMA and 0.618 Fibonacci retracement of the January peak – February low Bearish move. What is more interesting though, is that RSI closed above 60 threshold for the first time since mid-January i.e. now indicating positive/Bullish sentiment.
S&P500 is likely to traded higher and could test February double tops at around 4,595. A likely scenario is for S&P 500 to touch 4,600 in a short term exhaustive move and then retrace.
For Bearish trend to resume first signal could be a close below 4,455.
Rebound in Nasdaq 100 is lagging S&P 500 still trading below 200 SMA and RSI still below 60 i.e in negative/Bearish sentiment. However, if S&P500 is a leading indicator Nasdaq 100 could trade higher testing strong resistance at around 15,165. 200 SMA will offer resistance and 100 SMA is coming down also putting a pressure on the rebound.
If this rebound fizzles and Nasdaq 100 closes below 14,342 selling pressure is likely to resume.
Outrageous Predictions
Head of Investment Content Switzerland
Outrageous Predictions
Senior Relationship Manager
Outrageous Predictions
Saxo Group
Outrageous Predictions
Chief Investment Strategist
Outrageous Predictions
Chief Investment Strategist
Outrageous Predictions
Global Head of Investment Strategy
Outrageous Predictions
Investor Content Strategist
Outrageous Predictions
Global Head of Macro Strategy
Outrageous Predictions
Global Head of Macro Strategy
Outrageous Predictions
Global Head of Macro Strategy
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