Se siguen cerrando los riesgos
abiertos. La guerra de aranceles parece que toca a su fin, y la subida sigue
siendo muy consistente en China y EEUU. Europa, como no, a la zaga, pero
subiendo… Queda recorrido:
U.S. Markets
Not much has changed in a week.
Upside momentum remains firm and we have a number of stock market indices above
their 40-week average.
Although most of the U.S. stock market
indices reviewed are overbought short term, it’s a “good overbought” where any
weakness is short lived and met with more demand.
We remain bullish on an intermediate to long-term
view and would use any near-term weakness as an opportunity to add to favorite
names. Below is a look at the S&P 500 “weekly” chart.
European Markets
The DAX has cleared above a resistance
area and we would be adding to longs. The CAC is up 15% from where we got
our buy signal and it is now making its way above the 200-day average.
We remain long both of these
markets. Both Spain’s IBEX and Italy’s FTSE MIB are well contained in
downtrends are we remain cautious. Below is a look at the German DAX “weekly”
chart.
Asian Markets
The Nikkei is close to its downward
sloping 40-week average and we are concerned that it will fail as it did in
November 2016. We remain cautious for now. The Hang Seng has a
decisive move above its one-year downtrend and 40-week average.
We are on alert for the potential of a low
being carved out, similar to what occurred in 2016. Below
is a look at the Nikkei 225 “weekly” chart.
Emerging Markets
The Kospi 100 and Singapore’s Straits
Times Index are up into resistance area and we remain cautious.
The Emerging Markets ETF (EEM) is gaining
upside momentum. There is a good chance that a low is forming similar to
what we had in 2016. Below is a look at the EEM “weekly” chart.
Abrazos:
PD1: Estuve en Roma viendo
a un hijo mío que trabaja ahí. Es una gozada ver como los hijos se desarrollan
y hacen cosas importantes. Dejan de ser jóvenes ilusionados y se convierten en
hombres con grandes ideales: un apoyo continuo de los padres que vamos
envejeciendo. Es esa sensación de que los que nos siguen son mejores de lo que
fuimos sus padres… Vuelvo muy contento.
