In today’s briefing:
- Japan Among the Latest to Break Out; Buy Ideas in Growth/Cyclicals and Consumer Staples
Japan Among the Latest to Break Out; Buy Ideas in Growth/Cyclicals and Consumer Staples
- The theme we have seen over the past four weeks is an increasing number of indexes reversing 4-10-month downtrends and/or breaking above important resistance levels, with no failed breakouts.
- We continue to believe that global equities are going through a bottoming process, but the real test will come during the eventual pullback, which we believe we are now experiencing.
- We are watching to see whether these breakout levels and important moving averages (e.g., 50-day MAs) will hold.
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