“What’s on the other side of the wicked season.”
Barometer’s President and Chief Investment Strategist, David Burrows, with a short-term market update
Some of David’s key points include:
- Following a “wicked” down month, we saw the percentage of stocks trading above the 50-day and 150-day moving averages turn higher.
- The universe of optionable stocks in the U.S. has turned up, giving an initial buy signal for U.S. equities.
- The NASDAQ — the strength among markets — was the last market to break down and the first one to reverse, showing continued leadership.
- In Europe, both short-term and long-term indicators are now improving.
It’s important to note that many of the ETFs that we own in our Barometer Global Macro Mandate — as well as the major market indices in the U.S. — have held above the higher low from March and are turning higher.
We are headed into the seasonally strongest period of the year. Watch the complete six-minute video to hear David’s outlook for markets around the globe.
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