Holiday season is upon us and the seasonal strength shines through.
After the strong momentum and renewed breadth we have seen on US equities there were clear signs of higher highs yet to come and sure enough we have seen that continuation set up. World equities have bounced but yet to have a clear signal of a mean reversion close trade, lets see. The US$ continues to chop and frustrate a little. Commodities and precious metals have bounced but like the world indexes yet to show clear signals of a new wave higher.
Apologies on the delay of posting this. Christmas holiday season appears earlier every year and Ive traveling half way across the globe with annoyingly broken or very poor wifi. We are in the count down to end year numbers and now a contest between 2016 or 2017 which is the stronger set of year end nos . For me so far, yielding defensives have been the surprisingly strong outperfomer, with two weeks to go.
Here the Swiss team’s latest:
And here GS with their now famous technical work, “charts that matter”.
Chop chop..
And here Fitzpatrick with his usual annual 2018 Outlook score card of 2017.
All the best guys
Rich