New highs for US equity market markets once again whilst the Europe takes a breather and the strong euro holding her indexes back for now. The Pound once again coming under pressure. If these near term supports fail the pound could produce a large move very both US$ and Euro, downwards. Commodities remain weak in spite of the recent us$ weakness.
Without delay here the Swiss team’s latest:
And here the ground up UBS US equities view inc a tech downgrade :
The bull is weakening here and the re-inflation trade starting to sustain some technical damage. No sign of a turn yet but the move is starting to fade unless momentum returns shortly.
All the best
Rich