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 - S&P 500 & Nasdaq in correction phase. But how big a correction?
Kim Cramer Larsson
Technical Analyst, Saxo Bank Group
Summary: S&P 500 / US500 cfd could test 4,300 before buyers regain control.
Nasdaq 100 /USNAS100 cfd looking at 14,300. Indicators suggesting higher Index levels after correction
VIX in a down trend hovering around support
S&P 500 is in a correction phase that is likely to take it down to the 0.382 retracement of the May-June uptrend at around 4,295 and the lower rising trendline. A close below could fuel a sell-off down to around 4,200.
A close above 4,383 is likely to resulting in S&P500 resuming uptrend with a move to resistance at around 4,546 in the cards.
RSI is still showing positive sentiment with no divergence indicating higher Nasdaq levels are likely after a correction
US500 cfd: 0.382 retracement at 4,295. Could dip to test support at around 4,266
Nasdaq 100 has broken below its lower steep rising trendline and seems destined to drop to support at around 14,300A test of the lower rising trendline should not be ruled out.
RSI is still showing positive sentiment with no divergence indicating higher Nasdaq levels are likely after a correction
USNAS100 cfd could drop to test strong support at around 14,250 before uptrend is likely to resume
The VIX Volatility Index is hovering around the support at around 14.10 in a downtrend that could take the VIX index down to 12. (Weekly chart)
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