• 2 hours Gold Miners Eye Big Third Quarter Profits
  • 8 hours The U.S. Doubles Down On Domestic Lithium Production
  • 1 day Reddit Trader Scores 14,000% Returns On Rogue Trade
  • 2 days The Tangled Web Stretching From Turkey To DC
  • 2 days The U.S. Dollar Eyes Greater Upside
  • 2 days More And More Americans Believe A Recession Is Looming
  • 2 days Is The Pot Stock Boom Over Already?
  • 3 days How The California Utility Crisis Could Have Been Avoided
  • 3 days The Ugly Truth About Investing In Private Equity Deals
  • 4 days The World Is Facing A $1 Trillion Food Waste Crisis
  • 4 days Is It Time To Buy The Dip In Gold?
  • 4 days The History Of Oil Markets
  • 5 days Three Stocks To Watch Ahead Of Earnings Season
  • 5 days Markets Flat As Bulls And Bears Battle It Out
  • 5 days The Mining Industry Still Has a Human Rights Problem
  • 6 days 5 Billionaires Booted From Their Own Companies
  • 6 days Can Toyota's Hydrogen Car Take On Tesla?
  • 7 days Why Universal Basic Income Won't Work
  • 8 days Is This The Real Golden State?
  • 8 days Blockchain Firm Pushes For Ethical Mining
Another Retail Giant Bites The Dust

Another Retail Giant Bites The Dust

Forever 21 filed for Chapter…

The Problem With Modern Monetary Theory

The Problem With Modern Monetary Theory

Modern monetary theory has been…

Zombie Foreclosures On The Rise In The U.S.

Zombie Foreclosures On The Rise In The U.S.

During the quarter there were…

  1. Home
  2. Markets
  3. Other

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.


Europe:

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


USA:

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


Conclusion:

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.

 

Back to homepage

Leave a comment

Leave a comment