UBS: There’s ‘clear evidence’ that the stock market has topped out for now (SPX, SPY, IWIM)
|09/18/2016||Posted by BusinessMediaguide.Com under General World News||
The September top for stocks is in, according to UBS analysts.
Using technical analysis — the study of trading patterns to forecast changes in a security — Michael Riesner and Marc Müller wrote on Tuesday that Friday’s sell-off was not a one-day event.
Markets got busy again late last week, as global bonds sold off, followed by US stocks when the market opened on Friday. The analysts pointed to the breakout in bond yields, and higher volatility in the bond market, as the trigger for the move in risk assets including stocks.
On Friday, stocks experienced their steepest sell-off since the read more >>>