It was a mixed month for world equity markets, with net monthly changes ranging from +3.9% (Australia), +2.7% (USA), +1.9% (Brazil), +1.0% (Hong Kong), +0.8% (Germany), +0.5% (Russia), +0.1% (China), -1.2% (Japan), -1.5% (India), to -1.7% (South Africa).
Lets take our regular look at ten of the world equity markets.
USA - Dow
The mighty Dow broke a new historic high of 34256, settling +893pts (2.7%) to 33874. I would note the 10MA stands at 29715. The monthly momentum (green bar histogram) cycle continues to strengthen, and hasn't been this high since at least the late 1970s.
Right now, any correction would see first major support around psy' 30K, where the monthly 10MA will be in May. As things are, there is zero sign of a short/mid term top.
Germany – DAX
Japan – Nikkei
Brazil – Bovespa
Russia - RTSI
India – SENSEX
China – Shanghai comp'
South Africa – Dow
Hong Kong – Hang Seng
Australia – AORD
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Summary
Seven world equity markets were net higher, with three net lower.
Australia and the USA were strongest, whilst India and South Africa were weakest.
The USA, German, and Australian markets broke new historic highs.
All ten world equity markets are trading above their respective monthly 10MA, and I thus see the m/t trend in all ten as bullish.
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Looking ahead
Earnings:
M - ON, EL, BRK, CHGG, IRBT, XPO, FANG, SEDG, RIG
T - PFE, CVS, CRSR, UAA, COP, RACE, BHC, ATVI, TMUS, AYX, SPCE, UPWK, Z, LYFT, XLNX, MTCH
W - GM, GOLD, SPWR, PYPL, RKT, ETSY, UBER, TWLO, FSLY, MRO, QRVO
T - MRNA, VIAC, PENN, REGN, MIT, W, SQ, ROKU, PTON, AMC, NET, BYND, DBX, GPRO, DDOG
F - DKNG, NKLA, CCJ, CRON
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Econ-data:
M - PMI/ISM manu', construction, vehicle sales
T - Intl' trade, factory orders
W - ADP jobs, PMI/ISM serv', EIA Pet'
T - Weekly jobs, productivity/costs
F - Monthly jobs, wholesale inventories, consumer credit
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Final note
I will merely note that if you believe in freedom of speech, liberty, and are tired of the mainstream media hacks, you should know where to find me in... the twilight zone.
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Have a good weekend
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*the next post on this page will likely appear 5pm EST on Monday.
