Is the correction in equity markets over ? Have we completed the bear market ? is there more pain ahead ? These are the questions that investors are pounding after the highly volatile December / January period.
Charts are useful to answer some of the question and a very clear disconnect is now appearing in equity markets while clear trends are appearing in Gold, the US Dollar and the British Pound.
We remain prudent for the remaining of the first quarter.
Bonds remain uninspiring apart from a significant rally in Venezuela Bonds as investors are betting on the ousting of Nicola MADURO.
Chart of the Week
EQUITIES
World Indexes
MXWO – MSCI World Equity Index. Lighten up
MXEF – MSCI Emerging Markets Index BUY
MXAP – MSCI Asia Pacific All Countries Index. BUY
Americas
USA – Dow jones Industrial Index SELL
USA – Standard & Poor’s 500 Index Lighten Up
USA – Nasdaq Index. SELL ON STRENGTH
Europe
Europe – Bloomberg European 500 Index. BUY
Europe – EUROSTOXX 50 Index BUY
Switzerland – SMI Index SELL
United Kingdom – FT 100 Index SELL
Germany – DAX Index HOLD
France – CAC 40 Index BUY
Italy – FTSE MIB Index BUY
Spain – IBEX 35 Index BUY
Portugal – PSI 20 Index Lighten Up
Greece – Athens Stock Exchange BUY
Russia – IMOEX Index BUY
Turkey – DJ Titans 20 Index BUY
Middle East
UAE – Abu Dhabi Stock Exchange Index BUY
UAE – Dubai DMFGI Index Accumulate
Saudi Arabia – Tadawul Index BUY
ASIA
Australia – AS50 Index Lighten up
New Zealand – NZX Index BUY
China – FT 50 China Index BUY
China – CSI 300 Index BUY
China – Shanghai Composite Index BUY
China – HSCEI H-Shares Index BUY
Hong Kong – HSI Index HOLD
Taiwan – TWSE Index BUY
India – Sensex Index SELL
Japan – Nikkei 225 Index Lighten Up
Japan – TOPIX Index Lighten Up
Japan – JASDAQ Index Lighten Up
Indonesia – JCI Index Lighten Up
Malaysia – KLCI Index BUY
Thailand – SET Index BUY
Singapore – Straits Times Index BUY
Korea – KOSPI Index BUY
Philippines – PCOMP Index HOLD
Vietnam – VNI Index SELL
CURRENCIES
DXY – US Dollar Index SELL
EUR – Euro BUY
JPY – Japanese Yen SELL
CNY – Chinese Yuan STRONG BUY
GBP – British Pound STRONG BUY
AUD – Australian Dollar SELL
CAD – Canadian Dollar BUY
RUB – Russian Ruble BUY
TRY – Turkish Lira BUY
COMMODITIES
CL1 – Crude Oil BUY. Target 58
XAU – Gold BUY
XAG – Silver BUY
HG 1 – Copper BUY
XPD – Palladium SELL
XPT – Platinum BUY
SB1 – Sugar BUY ON WEAKNESS
KC1 – Coffee BUY
LB1 – Lumber BUY
BOND
USA – Yield Curve
Europe – Yield Curve
Japan – Yield Curve
China – Yield Curve
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