In today’s briefing:
- No Traction Above $93 on ACWI-US or 4400-4415 on EURO STOXX 50. Buys in Defensives/Japan/EM
No Traction Above $93 on ACWI-US or 4400-4415 on EURO STOXX 50. Buys in Defensives/Japan/EM
- There continues to be little traction above $93 on MSCI ACWI (ACWI-US), which remains the top-end of our anticipated 2023 trading range. Important downside targets are $86, $84, and $75-77.
- Additionally, the EURO STOXX 50 remains below 2-year resistance at 4400-4415.
- We remain overweight Europe, Japan, and India, and we prefer to only add exposure on a pullback — especially in Japan where indexes are bullish yet extended.
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