BREAK OUT?

Another V shaped recovery after the five days free fall? We will see, for sure we have experienced a nice rebound on Wednesday in all markets, and the S&P 500 recorded its first gain in 2015 and snapping a five-day losing streak. The headwind of the falling oil is moderated yesterday and the sentiment turned into more positive between the investors.

• S&P 500 +1.16%
• DJIA +1.23%
• Nasdaq +1.26%

This is not yet a break-out or pivotal point for S&P500. Its resistance key level is at 2.047, 7 points far from the recent point. So at this index we still have to wait for more technical confirmation, it is still too early to start to buy here.

But some European indices and the Australian index show clear pivotal points, so we should start to buy today FTSE, ASX200 and CAC40. Namely the FTSE has closed above its pivotal point at 6.400 and delivered a break-out pattern, so it is a perfect set-up point to buy the dip.

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The BFM Assets Team.