Wednesday, 23 March 2016

World equity indexes remain broadly weak

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



*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

Looking ahead

Wednesday will see New Home sales and the latest EIA report (10.30am).

Goodnight from London