Global Outlook Q1 − 2008

Thu, Dec 27 2007, 09:12 GMT
by Trading Central Team

Trading Central


Overview

  • - An MT consolidation pattern is forming on all major equity indices
  • - The actual down move will continue in the forthcoming weeks
  • - Implied volatility on indices remains high, but doesn't show any sign of reversal; reinforcing our bearish mood on Equity markets.
  • - We continue to favour Large vs. Small caps, US stocks vs. European stocks and European stocks vs. Japanese stocks.
  • - The US Dollar is seen as recovering in the short term (ST) yet remains weak in the long term (LT)
  • - Interest rates have invalidated the LT trend & are now seen as weakening. Yield curves (USD, GBP, JPY, EUR) are steepening.
  • - Euro LT yields are seen as outperforming the US yields.
  • - Gold might signal potential weakness in the ST, however odds are calling for new historical highs
  • - Crude Oil prices might undergo a ST consolidation in a LT rising trend

Published on  Thu, Dec 27 2007, 09:12 GMT

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