Instrument: US100+
Technical Analysis
Bullish Preference:
A Buy position is envisaged if the price trades above 12743.87 with take profit at 12813.44
Bearish Preference:
A Sell position is envisaged if the price trades below 12585.18 with take profit at 12509.09
Fundamentals:
No high-impact news affecting the instrument.
Comment:
The disappointments around Corporate America profits could “accelerate,” with the recent rally in equities potentially becoming a head-fake, according to Morgan Stanley’s Mike Wilson. January’s rally lured people into believing that “reality is different than what it is,” Wilson said. It’s typical for a January start, especially coming off a difficult year. He likened last month’s uptick in stocks to the start of 2001, when the market also saw a re-rating in tech stocks.
Analysis: SCRUM Team
