CFD ANALYST PICKS
TECHNICAL STRATEGIST
DAVID RODRIGUEZ
My pick: Stay short the S&P 500 on a hold of 1,130
Expertise: Algorithmic trading
Average time frame of trades: 2-10 weeks
I have remained bearish on the S&P 500 for quite some time now and I remain short. Unfortunately I added to the position below 1,050, which did not work well as the index rebounded. I have since covered half the position at a loss, but I am willing to hold the remainder as long as the index remains below 1,130. I feel confident that a deterioration in risk sentiment will produce further S&P declines in the coming months.
TECHNICAL STRATEGIST
JOHN KICKLIGHTER
My pick: Remain long 10-year gilts and remain short US dollar-Swiss franc
Expertise: Fundamental and technical analysis with risk management
Average time frame of trades: 1 day-1 week
Risk appetite has cooled over the past week and my long position in the Dow has fallen back to my stop-loss level, which has knocked me out. Before I commit to any new trends, I need to see a clear theme in sentiment. As for my existing positions – long gilts from 121.25 and short US dollar-Swiss franc from SFr1.14 – I will hold on to both of these positions to see how the trends develop. My first target on my long gilt trade will be set at 123.
TECHNICAL ANALYST
ILYA SPIVAK
My pick: Short gold (pending market movement)
Expertise: Global macro, classic technical analysis
Average time frame of trades: 1 week-6 months
Daily charts show that gold prices have formed a bearish rising wedge pattern below resistance at $1,260, with the downward bias reinforced by clear negative divergence on 14-day relative strength studies. If resistance levels at $1,240 turn to support, this will be confirmation of a breakdown in the gold price. I will look for a daily close below this level before I go short, initially targeting $1,175. If triggered, I will put in place a stop-loss at $1,264.70, the session high reached on 21 June.