Investors determined to stay in stock markets should look to Europe over the US, but steer clear of emerging markets, Julius de Kempenaer, technical analyst from Talergroup, told CNBC.
"Europe is taking over from the US. If you really have to be in equities then it is in developed markets and if you want to choose between developed markets I think you should prefer Europe over the US," Kempenaer told "Squawk Box Europe."
Choosing between the US and Europe is "an important choice for a professional investor," Kempenaer said.
"The time has now come that we have to shift from the US to Europe again," he added.
The overall picture for stocks is still bleak, according to Kempenaer.
"Equity markets worldwide are still in a massive downtrend and I don't think that's going to change anytime soon," Kempenaer said.
The DJ Eurostoxx 50 is facing critical levels as it hovers near recent lows that could either mark a bottom or signal further falls, Kempenaer said.
Emerging markets are "not the place to be" right now as they are starting to "underperform the rest of the world," he said.
(Watch the full CNBC interview with Julius de Kempenaer above).
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