Somente de fugida para vos trazer o comentário deste senhor que foi conquistando a minha admiração dado que tem visto de uma forma certeira o andamento dos mercados.
Está um pouco desfazado porque comenta a sessão de ontem e com targets para hoje.....e para a próxima semana!!
Bom fds para todos!!
By Robert P. Balan
Head of Financial Markets Strategy
Saxo Bank
Technical Summary : The equity rally starts to fade out . . .
- The bulls indeed gained the upper hand, as the equity recovery continued. SPX closed at 931.87 after having gone to as high as 935 -- slightly higher than expected. The sell-of at the last 15-minutes was not so encouraging however, and we might see a probe of 927 in early trading today. However we are not sure that profit-taking trades are over, so allow for one more move to 937 - 939 later in the session. But if no support at 925 appears, then the bear market rally is probably over.
- The stock market is heading into a turbulent, and patently negative, new phase if the SPX meets resistance soon. SPX's failure to rise above 940 during the rest of the week may be followed by further declines next week, which may eventually culminate in a test of the downside swing level which is now at 905.
- This should happen during the infamous +third wave+. This wave will be corrected in due time as well, giving us the fourth wave. Then a final and fifth wave (for this particular sequence) may make a trough at circa 840 - 835 within the next 3 to 4 weeks. This particularly bearish thread may eventually end at 725 - 700 SPX sometime in September - October time frame.
- European indices ended yesterday higher on improved momentum. The DAX should rise further to at least 2890, FTSE 100 may also rally back to 4000, and CAC 40 may rally back to 2920. We will be watching still how the DAX will perform at 2750 next week. We now see this level as the bearish swing point. The FTSE fell below the +ascending wedge's+ lower trendline. We now set 3900 as the index swing level. The CAC 40 should lead Europe on the way down, and 2820 swing level may be taken out before long.
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