sentix ASR Essentials 36-2017

Written by Patrick Hussy | 10 September 2017
Posted in sentix Weekly

Media sentiment hits historic lows

The latest sentix survey provides an insight into investors’ opinion on European sectors as markets move into the final month of Q3. At a market level, investors’ medium-term strategic bias on equities remains on an increasingly positive path, while recent pessimism on the near-term outlook has also subsided. A renewed ‘risk on’ attitude is also evident in survey participants’ sector preferences. The past month has seen revived optimism on cyclical sectors such as Basic Resources, Chemicals and Industrials, alongside a notable turnaround in sentiment on Autos, with readings bouncing off last month’s historic lows. The big losers in the past month have been Insurance and Media. Media is especially unloved, with pessimism reaching levels not previously seen in the past 10Y. See pages 2 and 3 for charts.

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sentix Investmentmeinung 35-2017

Written by Manfred Hübner | 04 September 2017
Posted in sentix Weekly

Gold mit Stopp-Loss aber ohne Kaufsignal

Unsere Gold-Einschätzung entwickelte sich nicht wie gedacht. Mit dem Break der charttechnischen Widerstandszone bei 1.305 US-Dollar ziehen wir den Stopp-Loss. Eine Kaufindikation für das gelbe Metall können wir dagegen nicht ausmachen. Wir zeigen nachfolgend warum. Auf der Aktienseite verbessert sich das Bild weiter, so dass wir nun auch Japan positiv bewerten, trotz Nordkorea und Yen.

Geänderte Einschätzungen: Gold, Aktien Japan

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sentix ASR Essentials 35-2017

Written by Patrick Hussy | 03 September 2017
Posted in sentix Weekly

Signs of caution on EUR/USD in medium-term

The latest sentix survey indicates that investors remain upbeat on equities from a medium-term strategic perspective, but have become a little less positive on bunds. There are also signs that investors are becoming more cautious on the euro heading into a month that will see central bank meetings return to the fore, starting with the ECB on Thursday. Near-term sentiment readings on EUR/USD are now back at relatively neutral levels. At the same time, investors are becoming less positive on the medium-term outlook for the euro versus the US dollar. In short, investor enthusiasm for the single currency has moderated ahead of this week’s ECB meeting. See Page 2 for charts.

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sentix Investmentmeinung 34-2017

Written by Manfred Hübner | 28 August 2017
Posted in sentix Weekly

Saisonale Wenden

Jackson Hole, die jährliche Konferenz der wichtigsten Notenbank-Chefs, hat keine greifbaren Ergebnisse gebracht. Weder FED, noch die EZB, haben sich in die Karten schauen lassen. Allerdings steht bei der EZB Anfang September dennoch ein Richtungsentscheid an. Der hohe TD-Index-Wert sowie der starke technische Widerstand bei 165,90 eröffnen u.E. eine Verkaufsgelegenheit. Zudem zeigt sich bei Rohöl ein altbekanntes Phänomen.

Geänderte Einschätzungen: Bund Future, Rohöl

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sentix ASR Essentials 34-2017

Written by Manfred Hübner | 27 August 2017
Posted in sentix Weekly

Equities: The fear declines

The absence of negative news which caused indignation has slightly improved the equity mood. Technically, stocks have not been able to break free, so that the final release has not happened yet. However, due to the stable Bias and favourable positioning data, the expectation for a positive fourth quarter remains unchanged. In contrast to oil. Here, the Bias declines and reveals a clear risk factor.

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