Week in Review: Global Equities Starting To Rollover?

We are the first to confess we have no idea which direction equities are headed next week.  As you can see some of the stronger markets had a rough week verus  a relatively strong performance in the U.S. indices.

Watch the key levels on the S&P500 closely this week as a clue for where equities are headed.   Keep on your radar European sovereign spreads, which rallied off their lows into Friday’s close, and the Hang Seng and Shanghai composite — both, of which,  broke through their 50-day moving averages last week —  as leading indicators of risk aversion.   Traders would do well to also moinitor how Dr. Copper trades.

After such a stellar run with the S&P500 up close to 30 percent since its October low, we’re trying to be patient and  looking hoping for a pullback in the S&P500 to the 50-day moving average at around 1250.  Good luck next week!

(click here if charts are not observable)

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