Apologies for the delay in posting this week’s technical comments.

The Swiss team stick to their call of last week that equity markets are deeply oversold and therefore a bounce should continue this week before more weakness resumes through June. They recommend selling SP500 levels around 1340 to 1350. Today cash reached 1335 so we are getting close.

The eurusd remains very unloved. She is running out of ‘runway’ to rally before equities resume their weakness and safe haven assets are bought again. The rest of this week remains a crucial period for the eurusd. She has a window to bounce but if she doesnt before equity sell levels are hit more euro weakness could well be forthcoming.

Here the report.

Weekly29-05

All the best

Rich

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