Technicals - S&P500 index and Nasdaq have generated technical sell signals
The Dow Jones generated a technical sell signal at 17,732 on 13/6/16 (on the same day as the key European indices generated sell signals). On Friday night, the S&P500 and Nasdaq indices both completed technical top formations / closed below key support levels which activated technical sell signals. The downside technical targets are located at 1950 and 4500 respectively. Given the three key US indices have generated sell signals in a cluster is clear negative technical momentum indicator for the US market outlook.
Angela has over 30 years experience in the technical analysis field. She provides technical analysis coverage of major Australian and global stocks / key markets, including provision of a bespoke technical service to wholesale clients.