This technical market commentary from EFG outlines recent bearish signals in Nasdaq futures and the 'Magnificent 7' ETF, alongside a breakdown of technical setups for various global indices and currency pairs.
Key Takeaways
- 1.Nasdaq futures are experiencing a sharp, pre-open selloff, indicating a potential reversal of recent highs.
- 2.The 'Magnificent 7' ETF has weakened significantly, breaking below both its 50-day and 200-day moving averages.
- 3.USD/JPY momentum is positive, trading close to 2024 highs with potential for intervention if it clears 162.00.
Table of Contents
- Technical Analysis
- Equities & Other
- FX & Precious Metals
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Authors
Philipp SporkaLara OlgiatiStefano Passera
Securities
NQ1MAGS
Themes
Technical trend reversalUSD momentum
Regions
Asia PacificEuropeUnited StatesSwitzerlandJapan