In today’s briefing:
- Upgrading Europe to Overweight; Monitoring U.S. (S&P 500) For a Downgrade; Buy Gold Miners and More
Upgrading Europe to Overweight; Monitoring U.S. (S&P 500) For a Downgrade; Buy Gold Miners and More
- We discussed last week (Feb. 27 Int’l Compass) how both ACWI-US and the S&P 500 displayed false breakouts, and to look for near-term pullbacks
- We said expect pullbacks to range supports at $116 on ACWI-US and 5770-5850 or 5600-5670 on the S&P 500 in the coming weeks, where we would be buyers.
- The S&P 500 is testing the 5770-5850 range now, while ACWI-US is testing its 200-day MA at $117. It is possible ACWI-US finds support here. Upgrading Europe to overweight
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