Saxo Market Call
Special Edition: Technical analysis with Kim Cramer Larsson

Special Edition: Technical analysis with Kim Cramer Larsson

May 26, 2022

Slide deck: https://bit.ly/3sXgcq8   -

This Special Edition podcast features Kim Cramer Larsson, Saxo's head of Technical Analysis who takes us through the technical chart outlook for a wide array of assets including the S&P 500, DAX, Brent Crude, US 10-year treasury yields, EURUSD and other FX pairs, with an eye on key support and resistance levels, trend status and a flexible outlook on scenarios that could develop from here.  This episode was recorded on Wednesday, May 25, with John J. Hardy hosting.

Intro and outro music by AShamaluevMusic

Bubble sectors are dragging hard on this market

Bubble sectors are dragging hard on this market

May 25, 2022

Slide deck: https://bit.ly/3wQ5SBg   -

Today we look at the normally high-beta bubble sectors continuing to weigh very heavily on the US equity market, even as the S&P 500 managed to pull solidly off the lows yesterday. We continue to highlight the "Bermuda triangle" of Tesla-ArkInvest-Crypto as an ongoing contagion risk. We also look at the market impact of a trio of weak US economic data points, the latest on crude oil and natural gas, FX moves and the status of  the US dollar, upcoming earnings including Nvidia and Snowflake, and more. Today's pod features Peter Garnry on equities, Ole Hansen on commodities and John J. Hardy hosting and on FX.

Intro and outro music by AShamaluevMusic

Oh, SNAP!

Oh, SNAP!

May 24, 2022

Slide deck: https://bit.ly/3sS5am7   -

Today we look at the case of whiplash administered to the US equity market yesterday after a positive session in the US was spoiled after hours by a weak forecast from social media company SNAP, which has contributed to a general mark-down of US futures into the European trading session today. Elsewhere, we look at whether recession risks are over-estimated for the near term as PMI's suggest economic activity remains in expansion even as confidence has cratered. A breakdown of grains, crude oil and natural gas, earnings stories ahead and more also on today's pod, which features Peter Garnry on equities, Ole Hansen on commodities and John J. Hardy hosting and on FX.

Intro and outro music by AShamaluevMusic

Bounce unlikely to achieve more than dead cat status

Bounce unlikely to achieve more than dead cat status

May 23, 2022

Slide deck: https://bit.ly/3GdwCQK   -

Today we look at the bounce in the US market on Friday from a key technical level near 3,800 in the S&P 500, just after the market had taken out recent cycle support levels. Meanwhile, lower US treasury yields and a squeeze on USD longs have helped drive a modest bounce in sentiment, though we remain very cautious. Also today: AI pipedreams, the latest on global food concerns, natural gas, FX, gold, earnings ahead this week, how to understand equity valuations, using Zoom Video Communications as an example and much more. Today's pod features Peter Garnry on equities, Ole Hansen on commodities and John J. Hardy hosting and on FX.

Intro and outro music by AShamaluevMusic

Framing the current equity market drawdown

Framing the current equity market drawdown

May 20, 2022

Slide deck: https://bit.ly/3MyCd6t   -

Today we look at markets tip-toeing back away from the cycle lows, especially after a rate ease in China buoyed sentiment there. We also highlight a huge ongoing shift in portfolio allocations as a major Blackrock momentum fund (MTUM) is set for a massive rebalancing. And we put the current overall market drawdown in historic perspective, warning that investors need to zoom out to consider the 100-year timeframe rather than the merely the post-GFC one. Thoughts on industrial and precious metals, FX and the status of the US dollar rally as well as a preview of next week's earnings- and macro calendar also on today's pod, which features Peter Garnry on equities, Ole Hansen on commodities and John J. Hardy hosting and on FX.

Intro and outro music by AShamaluevMusic

Market tilts back to the edge of the abyss.

Market tilts back to the edge of the abyss.

May 19, 2022

Slide deck: https://bit.ly/3NpZd7O   -

Today we break down the worst session for US equities in over two years after another large US retailer, this time Target, saw its share price gutted after noting inflation driving rising margin pressures. As stocks are back at the precipice of key support, we take a look at next potential downside targets, the remarkable lack of a "normal" VIX forward curve given market stress at present, Tesla's Elon Musk becoming a loose cannon after Tesla kicked off the S&P 500's ESG index, look at JPY wrestling with the USD in FX, CAD concerns, crude oil, industrial metals and grains and more. Today's pod features Peter Garnry on equities, Ole Hansen on commodities and John J. Hardy hosting and on FX.

Intro and outro music by AShamaluevMusic

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