My pick: Sell FTSE 100 at 5,400
Expertise: Technical analysis
Average time frame of trades: 5-10 days
The market has been very well-supported on dips below 5,000 with the latest bounce now likely to be opening additional gains back towards the 5,400 level over the coming sessions. However, any additional gains beyond 5,400 are seen as limited. We would look for a topside failure and bearish resumption back towards 4,900 over the coming weeks. A stop loss should be placed at 5,550.
My pick: Breakout 10-year gilt/stay long Dow/stay short dollar-Swiss franc
Expertise: Fundamental and technical analysis with risk management
Average time frame of trades: 1 day-1 week
The return of risk appetite has proven robust. My long Dow trade (10,050) and short dollar-Swiss franc (1.14) played out nicely. I have taken my first target on both and trailed my stop. For this week, I am watching the UK budget announcement. However investors interpret the Budget, it is bound to spark volatility for gilts. Therefore, I will look for a break of either 121.25 or 120 for an entry point and place a stop on the opposite side of the break level.
My pick: Short S&P 500 (pending market movement)
Expertise: Global macro, classic technical analysis
Average time frame of trades: 1 week-6 months
The S&P 500 has broken resistance at 1,128.70, the 50 per cent Fibonacci retracement of the 26 April-25 May fall. Prices are now targeting the 61.8 per cent retracement at 1,150.40 and further gains expose resistance at 1,170. Risk aversion is ahead and I‘ll look for selling opportunities. Global growth has lost drivers in China and Europe – the former wilfully hitting the brakes and the latter weighed down by its debt. The US is lacklustre and Japan is preoccupied with deflation.