Friday 24 April 2015

Still holding a bearish cross

Despite new historic highs, the monthly MACD cross is holding on a number of indexes.. including the sp'500. However, equity bears face further problems as the USD looks in the process of retracing lower into June. A weaker US Dollar certainly bodes in favour of continued upside.



Little to add.

The broader US equity market remains pretty strong, as also reflected in most EU/Asia markets.

So.. .holding at MARCON 6, but if sp'2130/40s into early May.. the status will turn back to an outright bullish 7.