We had some very promising price signals last week and the promising market breadth then resulted in a Thursday session breakout for most the key sectors. The Nik225 joined the move and the bull market started to move forward once again.
In spite of some key technical signals that participants had started to allocated long again the AG team are sticking to their guns in respect of forecasting an imminent market top here. Its becoming more of a 1987 type flash crash event forecast, which some cynics might say demonstrates a desperate bear.
I’ll leave the comments to the team’s own report.My comments from last week and week before stand that i’d like to see some lines in the sand technically from the team. No matter the near term outcome here without clear reversal levels their practice is on shaky ground.
Fitzpatrick must be happy as the US$ is rising, so is the jpy and so are the equity indexes. He has a week off this week.
The GS report i missed a copy this week but we know their conviction levels and key trades from last week. They haven’t had a bad week but Fitzpatrick takes the winner’s circle this last week.`
Here below instead are a raft of reports from CS which i’ll update on later today.
Here CS 6 month h2 view:
And here the CS monthly:
more to come.
Rich