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Daily Update

Both European equities and US futures had a difficult start on Monday following the disappointing outcome of Doha's conference. Nevertheless, both equity markets were able to bounce back and to close at session's high.


The Sigma Whole Europe Index is now close two its March high. We believe this level will act as a resistance area: we can clearly count 5 sub-waves from point 'b?' on the chart. This means current up leg could nearly be over.

Sigma Whole Europe Index


We can clearly identify a 5 waves pattern starting in mid-February. On top of that, we can also identify 5 sub-waves from '4?'. So, the whole pattern looks complete and a short term reversal is now possible.

Sigma Whole US Index


Based on our wave count, the whole up leg started in Mid-February looks complete. So, we believe the equity market could face some difficult times in coming sessions. On top of that, we had a couple of negative reactions after some earnings release: Netflix -12%, Illumina -18%, IBM -5%, ...

On a risk/return approach, we believe the NDX is attractive to short at current levels (4570).


For those of you interested in our analysis, quant models and trades, you can visit our website (www.sigma-invest.com) for a 'free tour'. You can also subscribe to a 30days free trial (full access). You can also subscribe to our twitter account (@SigmaTradingOsc), it is free and you are updated on our latest view/trades.


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