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Richard Ross, global head of technical strategy at New York brokerage Auerbach Grayson, who was confident in the equity market's bullish trend through the summer and into the early fall, still believes the uptrend in stocks is intact.
"The economy doesn't run on an iPhone," Ross, head of technical strategy at Auerbach Grayson, wrote in a note Sept. 16, citing IBM's huge global footprint and divers platform of hardware, software, services and support as the case for its chances to reap the benefit of economic recovery around the world.
Richard Ross, head of technical strategy at New York brokerage firm Auerbach Grayson, agrees that the stars are aligned for a continued rally, but also counsels near-term caution amid the possibility that the summer's rally has made the market slightly overbought.
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She outscored her lay male teammates, barked bits of technical strategy, shook her head in disgust when her orders were botched.
It's easy for nervous newcomers, thinking only of technical strategy, to lose sight of this.
Ross, brokerage firm Auerbach Grayson's head of global technical strategy, said IBM is poised to retrace 100% of its bear market losses.
Given the massive recovery of stock prices since their March lows, Richard Ross, head of global technical strategy at Auerbach Grayson, said 10,000 is hardly a significant inflection point.
Jordan Kotick, head of global technical strategy for Barclays Capital, has a somewhat bullish short-term view.
Richard Ross, head of global technical strategy at New York brokerage Auerbach Grayson, agrees.
That may be an encouraging sign for the broader market from a technical standpoint, according to Richard Ross, head of global technical strategy at Auerbach Grayson.
"Investors are focusing on the pickup in economic activity and anticipating a rebound in travel," said Richard Ross, Auerbach Grayson's head of global technical strategy.
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