Instrument: US100+
Technical Analysis
Bullish Preference:
A buy position is envisaged if the price trades above 12868.30 with take profit at 12948.29
Bearish Preference:
A sell position is envisaged if the price trades below price 12774.19 with take profit at 12703.61
Fundamentals:
1:30pm USD Unemployment Claims
Comment:
BTIG analysts see an opportunity to fade tech strength after the ongoing outperformance amid the global banking crisis. As Investors have perceived the tech sector, and especially large-cap tech stocks, as a safe haven to hide from the crisis in the financials section. U.S. government bond yields fell steeply this week, with some durations marking their biggest drops in decades, as investors bet the Federal Reserve would likely curb its aggressive rate hike trajectory to avoid exacerbating financial system stress following the failures of Silicon Valley Bank and Signature Bank
Analysis: SCRUM Team
