Quarterly Outlook
Macro outlook: Trump 2.0: Can the US have its cake and eat it, too?
John J. Hardy
Global Head of Trader Strategy
Technical Analyst, Saxo Bank
Similar picture on EuroStoxx50. Trading around the 0.382 retracement of the August to October down trend. No divergence on RSI and still negative sentiment. Rebound extend to around 3,581-3,600. However, if EuroStoxx closes that gap from yesterday morning bear trend is to resume.
For the short term down trend to reverse a close above 3,683 is needed.