Risk assets (equities, commodity FX, commodities) are nearing their peaks. I expect leading equity indices to peak around current levels, +/- 2%. In fact, I expect the risk rally to extend for a few more sessions – therefore, +2% from current levels (before topping) is highly likely.
This is an hourly chart of the NASDAQ100, which is currently in its final consolidation phase, before an expected exhaustive rally to around 2520.
This is an hourly chart of the European Banking index, which is up 30% from its 2012 lows. I believe that it will peak about 5% or so above current levels. We could get to the top directly from here, or could just as easily drop about 6% and then rally to the topping level (EUR120).
Aidyn Kussainov
London, UK.
+44 (0) 7917 274 989
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