By Michael Msika, Bloomberg Markets Liver reporter and strategist
Last week’s equity market rebound has reversed some of the early August losses, yet given the make-or-break events on the horizon, traders are wary of calling the all-clear.
Even before this week’s economic data releases — US and UK inflation figures Wednesday — investors are looking at the market’s technical setup. The Stoxx 600 for instance erased its weekly losses on Friday, closing its “weekly gap,” according to Day By Day technical analyst Valerie Gastaldy. Next big resistance level to cross will be 508 points, she says.
