Technical Trend Outlook

On the surface, the S&P 500 index appears to be continuing its uptrend towards 8,000 and potentially 8,500 in the months ahead, but market breadth has deteriorated to a significant degree: the index is reaching new highs while the majority of constituents are in downtrends and participation has collapsed. Combined with record tech concentration and unusually low demand for downside protection, this leaves the market increasingly vulnerable to a sudden setback…

US bond yields are breaking higher, EUR/USD is testing key support, energy markets remain elevated and precious metals are correcting sideways, while the main US stock markets continue to hold their broader uptrends despite increasingly narrow leadership and growing vulnerability beneath the surface. 

Read this report to see our latest technical insights and the most important support and resistance levels for the main markets...

Crude oil and Dutch natural gas signal a potential larger uptrend phase, while bond yields trend higher and most major stock indices navigate mature uptrends..