It was a very mixed month for world equity markets, with net monthly changes ranging from +5.8% (Brazil, India, Argentina), +2.0% (South Africa), +0.4% (China), -1.7% (Germany), -4.1% (Japan), -4.2% (USA, Australia), to -5.7% (Russia).
Lets take our regular look at ten of the world equity markets.
USA - Dow
Germany – DAX
Japan – Nikkei
Brazil – Bovespa
Russia - RTSI
India – SENSEX
China – Shanghai comp'
South Africa – Dow
Argentina - MerVal
Australia – AORD
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Summary
Five world markets were net higher for March, with five net lower.
Brazil, India, and Argentina lead the way up, whilst Russia was very powerfully lower.
The German and South African markets broke new historic highs.
Germany, Brazil, Russia, China, South Africa, and Argentina are trading above their respective monthly 10MA.
The USA, Germany, China, South Africa, and Argentina, have positive monthly momentum.
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Looking ahead
It will be the start of Q1 earnings season, starting with the financial giant JPM
Earnings:
M - $LEVI $PLAY $GBX
T - $WBA $TLRY $RPM $WDFC $CALM $MAMA $AEHR $KRUS $KRMN
W - $DAL $SMPL $NEOG $THTX $STZ $LAKE $PSMT $RELL $TBBB
T - $KMX $BYRN $LOVE $BSVN $NTIC
F - $JPM $MS $WFC $BLK $BK $FAST
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Econ-data/events:
M - Consumer credit (3pm)
T - NFIB optimism
W - Wholesale invent', EIA Pet', FOMC mins (2pm)
T - CPI, Weekly jobs, US T-budget
F - PPI, consumer sent',
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Final note
With Trump announcing tariffs, Thursday and Friday have seen the most bearish price action since March 2020. Some are using the C word... but that still isn't merited. I'd accept some individual stocks are in semi-crash mode.
We're clearly s/t oversold, and prone to a multi-week bounce, with a fair number seeking a back test of the 200dma (and effectively... the monthly 10MA) in the 5700s within May/June.
As I noted at the end of March, I see the main market as 'Mid term broken', and I lean net bearish into the 'seasonal flooring time' of October. Whether that equates to SPX 4800, 4K, or even lower... I don't know. In either case, popcorn will be merited all the way into fall.
For more of the same... subscribe to my intraday service.
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details, and the latest offers: https://www.tradingsunset.com
Have a good weekend
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*the next post on this page will likely appear 4.20pm EST on Monday.
