From the desk of Louis Sykes @haumicharts
At the beginning of each week, we publish performance tables for a variety of different asset classes and categories along with commentary on each.
Looking at the past helps put the future into context. In this post, we review the absolute and relative trends at play and preview some of the things we’re watching in order to profit in the weeks and months ahead.
The weight of the evidence continues to overwhelmingly lie in favor of the bulls.
The major indices are above important levels and are well on their way to achieving our targets. We’re seeing sector rotation into offensive, cyclical areas of the market, and away from defensive, which is all confirming these new highs.
Commodities are showing incredible strength in the face of extreme positioning, reflecting the control buyers have in these markets.
And interest rates have claimed an important level, supporting the rotation into risk assets.
Let’s jump right into this week’s report with our US index table. [Read more…]