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S&P 500, DAX 40 Forecast: Sentiment Turnaround, However, Downside Risks Remain

S&P 500, DAX 40 Forecast: Sentiment Turnaround, However, Downside Risks Remain

Justin McQueen, Strategist

S&P 500, DAX 40 Analysis and News

  • S&P 500 | Another Bout of Turnaround Tuesday?
  • DAX 40 | Benefits on Reports of EU Plans for Joint Bond Issuance

S&P 500 | Another Bout of Turnaround Tuesday?

Despite the latest talks between Russian and Ukrainian delegators yielding little in the way of positives. So far, equities are putting in a bit of a turnaround, although, risks do still remain on the downside and as I have said previously, the recent lows at 4100 remains key for equity bulls. However, that being said, markets have received a boost in sentiment following reports that the EU are considering joint-bond issuance to fund energy and defence spending.

S&P 500 Chart: Daily Time Frame

S&P 500, DAX 40 Forecast: Sentiment Turnaround, However, Downside Risks Remain

Source: Refinitiv

DAX 40 | As highlighted yesterday, topside resistance in the form of the 200WMA (13,106) has capped this morning’s rally. Although, in light of reports that the EU are considering joint bond issuance, European indices such as the DAX will be among the main beneficiaries. Therefore, should the 200WMA be breached, eyes will be on for a close above. However, as has been mentioned at length, geopolitics will continue to dictate sentiment and thus with no significant signs of easing tensions, volatility will persist with headline risk remaining elevated.

DAX Chart: Weekly Time Frame

S&P 500, DAX 40 Forecast: Sentiment Turnaround, However, Downside Risks Remain

Source: Refinitiv

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