Quarterly Outlook
Fixed Income Outlook: Bonds Hit Reset. A New Equilibrium Emerges
Althea Spinozzi
Head of Fixed Income Strategy
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Technical Update - US Equity Sector and Industry trends
Kim Cramer Larsson
Technical Analyst, Saxo Bank
This Sector and Industry analysis is planned to be updated bi-weekly and/or when there are some interesting developments. The analysis’ are just short comments and explanations with a weekly chart
Semiconductor
After closing 391 Semiconductor sector switched to a confirmed uptrend. Next key resistance at 423.76.
To reverse the uptrend a closed below 336. First indication of this bearish scenario to play out would be a close below 55 weekly SMA.
Industrial
Range bound between 96 and 103.Breakout is needed for direction. If bullish break out potential up to around 108. Bearish breakout 200 weekly SMA providing support
Energy
Uptrend in a rising channel. RSI positive sentiment indicates higher levels but a close below 87.75 and the trend is likely to be reverse.
Oil & Gas
Uptrend could be reversed after bearish break of rising trendline. Oil & Gas have found support at 200 weekly SMA. A close below 135.85 confirms new downtrend. Despite bullish RSI 55 weekly SMA declining indicating underlying medium-term sentiment is bearish.
Uptrend could be reversed after bearish break of rising trendline. Oil & Gas have found support at 200 weekly SMA. A close below 135.85 confirms new downtrend. Despite bullish RSI 55 weekly SMA declining indicating underlying medium-term sentiment is bearish.
Metals and Mining Industry
A close above 54.91 will confirm uptrend with potential to 65. Resistance at around 57.16.
To reverse the uptrend a close below 48.70
Financial
RSI divergence indicates Uptrend could be exhausting. A close below 34.55 could see the Financial sliding back to test 200 weekly SMA..
Transportation
Forming an Ascending triangle like pattern . Bullish RSI indicates bullish break out. A close above 233.50 will confirm uptrend. Bearish trend with a close below lower rising trend line and below 223.45.
Technology
Trading in a steep rising channel. Facing strong resistance at around 139.40. A correction should be expected if resistance level is reached. However, bullish RSI indicates Technology could break the break higher. closes below 120.80.
Rising 21 and 55 weekly SMA’s are rising indicates underlying bullish sentiment supporting the bullish outlook.
Materials
Materials closed higher last week confirming uptrend. But divergence on RSI indicates weakening of the uptrend.
Utilities
Closed below support at around 69 confirming downtrend. Trying to move back up. RSI still positive (needs to close below 40 threshold to turn negative).
Declining 200 weekly SMA suggests strong overhead resistance and Utilities is likely to let go and move lower.
Retail
Retail rebounded strongly and is now in an uptrend. No strong resistance until around 75.80.
Health Care
Downtrend but could find some support around the 200 weekly SMA. RSI negative sentiment indicating lower levels are likely. A move down to around 128.70 is in the cards.
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