While our expected correction of 10% took place along a possible four year cycle low, the US Equity faces diverse issues to assure a normal rebound. Only Japan is not in Bear trend, but ranging now below its MA200d with weaker Relative strength(RS). Europe is in trouble with declining Highs & lows, but its RS is flattening. Emerging Equities are divergent, Brazil & Russia outperform China & India, but BRICS have been in Bear market since February. The US dollar index is rising further along 10 Year US yield still in uptrend, possibly signalling a decline in Commodities again, bad for Emerging Markets. The US sector rotation toward Defensive sectors may not be sufficient to feed a lasting rebound October has not been a Bear market Killer, though seasonality is favorable from November onward. A US equity rebound needs to happen in coming days to avoid an unpleasant very rare event, which should not let happening, Bruno Estier, Independent Market Strategist.
While our expected correction of 10% took place along a possible four year cycle low, the US Equity faces diverse issues to assure a normal rebound. Only Japan is not in Bear trend, but ranging now below its MA200d with weaker Relative strength(RS). Europe is in trouble with declining Highs & lows, but its RS is flattening. Emerging Equities are divergent, Brazil & Russia outperform China & India, but BRICS have been in Bear market since February. The US dollar index is rising further along 10 Year US yield still in uptrend, possibly signalling a decline in Commodities again, bad for Emerging Markets. The US sector rotation toward Defensive sectors may not be sufficient to feed a lasting rebound October has not been a Bear market Killer, though seasonality is favorable from November onward. A US equity rebound needs to happen in coming days to avoid an unpleasant very rare event, which should not let happening, Bruno Estier, Independent Market Strategist.
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