Quarterly Outlook
Macro Outlook: The US rate cut cycle has begun
Peter Garnry
Chief Investment Strategist
Technical Analyst, Saxo Bank
The S&P 500 Index closed back below the 200 daily SMA and minor support at 4,446 indicating return to bearish scenario after being rejected at the resistance at 4,590.
If S&P500 closes below there is not strong support before 3,725
US500 cfd (future)
The selloff is continuing this morning in the futures/US500 cfd. Crucial support area around 4,262-4,220 is likely to be tested
Nasdaq 100
After being range bound for a few days between 14,481 and 15,166 Nasdaq 100 was hit by a selloff Friday pushing the Index to close below support. Next support which can be crucial is around 13,945. If closing below next strong support is not around 12,950
USNAS100 cfd
The future /USNAS100 bear move is continuing this morning approaching crucial support at around 13,838. Next strong support around 12,667