Quarterly Outlook
Macro outlook: Trump 2.0: Can the US have its cake and eat it, too?
John J. Hardy
Chief Macro Strategist
Access both platforms from your single Saxo account.
Technical Update - SP500 and Nasdaq100 could resume bearish trend
Kim Cramer Larsson
Technical Analyst, Saxo Bank Group
Summary: US Indices S&P500 / US500cfd and Nasdaq 100 / USNAS100 cfd are still showing negative sentiment and with Friday's sell-off they could soon turn bearish. Key support and resistance levels to be observed
S&P 500 with the sell-off Friday the Index seems heavy. RSI has failed once again to break above 60 threshold. If S&P 500 closes below 4,430 it is likely to drop to test key support at around 4,328. A close below could trigger increased selling down to around 4,100 with the 200 Moving Average currently at around 4,200 giving some support
Weekly chart shows why 4,328 is such a key support, a close below will confirm down trend also on the medium-term.
For S&P 500 to resume uptrend a close above key resistance at around 4,540 is needed US500 cfd: Key resistance at 4,540. Key support at 4,333. A break below 4,328 could fuel a sell-off down to 4,333 level.
Nasdaq 100 A close above resistance at around 15,561 will resume uptrend. However, with the sell-off Friday downtrend is likely to resume. A close below 15,138 will confirm the bearish scenario that if unfolding is likely to take Nasdaq down to key support at around 14,687.
If broken next support levels are 14,254 and 13,589, where 200 Moving Average is likely to add to the support strength.
RSI is still showing negative sentiment having failed to close above 60 threshold
On the weekly chart Nasdaq 100 is broken bearish out of its rising Wedge like pattern. A Pullback has occurred end August but it has not demolished the potential top and reversal scenario. A close above 15,932 is needed for that.A close below 14,557 a medium-term downtrend is confirmed
USNAS100 cfd. A close below 15,133 could fuel a sell-off down to key strong support at around 14,687. Resistance at around 15,525. A close above is needed for bullish trend
Latest Market Insights
Quarterly Outlook
-
-
Quarterly Outlook
Equity Outlook: The ride just got rougher
Charu Chanana
Chief Investment Strategist
-
Quarterly Outlook
China Outlook: The choice between retaliation or de-escalation
Charu Chanana
Chief Investment Strategist
-
Quarterly Outlook
Commodity Outlook: A bumpy road ahead calls for diversification
Ole Hansen
Head of Commodity Strategy
-
Quarterly Outlook
FX outlook: Tariffs drive USD strength, until...?
John J. Hardy
Chief Macro Strategist
-
Quarterly Outlook
Fixed Income Outlook: Bonds Hit Reset. A New Equilibrium Emerges
Althea Spinozzi
Head of Fixed Income Strategy
-
Quarterly Outlook
Equity Outlook: Will lower rates lift all boats in equities?
Peter Garnry
Chief Investment Strategist
After a period of historically high equity index concentration driven by the 'Magnificent Seven' sto... -
Quarterly Outlook
Commodity Outlook: Gold and silver continue to shine bright
Ole Hansen
Head of Commodity Strategy
-
Quarterly Outlook
Macro Outlook: The US rate cut cycle has begun
Peter Garnry
Chief Investment Strategist
The Fed started the US rate cut cycle in Q3 and in this macro outlook we will explore how the rate c... -
Quarterly Outlook
FX Outlook: USD in limbo amid political and policy jitters
Charu Chanana
Chief Investment Strategist
As we enter the final quarter of 2024, currency markets are set for heightened turbulence due to US ...
Disclaimer
The Saxo Bank Group entities each provide execution-only service and access to Analysis permitting a person to view and/or use content available on or via the website. This content is not intended to and does not change or expand on the execution-only service. Such access and use are at all times subject to (i) The Terms of Use; (ii) Full Disclaimer; (iii) The Risk Warning; (iv) the Rules of Engagement and (v) Notices applying to Saxo News & Research and/or its content in addition (where relevant) to the terms governing the use of hyperlinks on the website of a member of the Saxo Bank Group by which access to Saxo News & Research is gained. Such content is therefore provided as no more than information. In particular no advice is intended to be provided or to be relied on as provided nor endorsed by any Saxo Bank Group entity; nor is it to be construed as solicitation or an incentive provided to subscribe for or sell or purchase any financial instrument. All trading or investments you make must be pursuant to your own unprompted and informed self-directed decision. As such no Saxo Bank Group entity will have or be liable for any losses that you may sustain as a result of any investment decision made in reliance on information which is available on Saxo News & Research or as a result of the use of the Saxo News & Research. Orders given and trades effected are deemed intended to be given or effected for the account of the customer with the Saxo Bank Group entity operating in the jurisdiction in which the customer resides and/or with whom the customer opened and maintains his/her trading account. Saxo News & Research does not contain (and should not be construed as containing) financial, investment, tax or trading advice or advice of any sort offered, recommended or endorsed by Saxo Bank Group and should not be construed as a record of our trading prices, or as an offer, incentive or solicitation for the subscription, sale or purchase in any financial instrument. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, would be considered as a marketing communication under relevant laws.
Please read our disclaimers:
- Notification on Non-Independent Investment Research (https://www.home.saxo/legal/niird/notification)
- Full disclaimer (https://www.home.saxo/en-gb/legal/disclaimer/saxo-disclaimer)