Despite all world equity markets continuing the upward climb from the Jan/Feb' lows, the broader picture remains bearish. Unless the bull maniacs can keep pushing for at least another 3-4 months, the next down wave will inevitably break new lows.
Germany - DAX
Japan - Nikkei
USA - Dow
UK - FTSE
*I'll cover the world markets in full, the weekend of April 2/3.
Despite strong March gains, most world markets remain broadly weak, holding within a downward trend that began last spring/summer. Further, most markets are still trading under their respective monthly 10MAs.
For the moment, there is no reason for the bears to capitulate.
Clearly though, any sustained March/April closes above the 10MA, would be suggestive the broader down wave from spring/summer 2015 has concluded.
I want to especially highlight though, I am looking at the world markets as a collective, and trying not to get overly focused on any given national market.
*it is notable there are just six trading days left of March (for the US market), so equity bears would do well to cool the market from current levels.
Macro chatter - Mr Long with Mr Rubino
Wednesday will see New Home sales and the latest EIA report (10.30am).
Goodnight from London