It was a mixed month for world equity markets, with net monthly changes ranging from -10.1% (Russia), -7.6% (China), -6.6% (Australia), -6.2% (Japan), -3.3% (USA), -2.6% (Germany), -0.4% (India), +1.7% (Hong Kong), +2.9% (South Africa), to +7.0% (Brazil).
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
Hong Kong – Hang Seng
Australia – AORD
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Summary
Seven world equity markets were net lower for January, with three net higher.
Russia lead the way lower, whilst Brazil was powerfully higher.
The US and Australian markets broke new historic highs.
The US, Indian, and South African markets are holding above their respective monthly 10MA.
Monthly momentum remains positive for the US, German, Indian, South African, and Australian markets.
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Looking ahead
Another very busy week is ahead, with the latest inflation data due on Thursday.
Earnings:
M - ON, TSN, HAS, CHGG, TTOO, AMGN, RMBS, THC
T - PFE, BP, COTY, HOG, PTON, CMG, CRSR, LYFT, XPO
W - CVS, CGC, TEVA, YUM, CCJ, DIS, UBER, TWLO, ZNGA, MAT, SONO, MGM, IRBT, LUMN
T - KO, PEP, DDOG, AZN, TPR, MT, AFRM, TWTR, NET, Z, ACB, EXPE, UPWK
F - CLF, UAA, NWL
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Econ-data:
M - Consumer credit (3pm)
T - Intl' trade
W - Wholesale invent', EIA pet'
T - CPI, Weekly jobs, US T-budget
F - Consumer sent'
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| Stormy times ahead? |
Final note
The year has started on a somewhat shaky note, with most world markets currently short/mid term broken.
Whilst February has started with net weekly gains for US equities, Thursday was a reminder that the market is still unstable, as also reflected via the VIX printing 26s.
My concern is we'll break a new cycle low, whether by end Feb', or in March. Tech remains the proverbial wreck, and there is pretty easy downside of another 10/15%.
Ohh, and just to be clear, I still don't fear rate hikes, there are far more important issues out there. Arguably, the biggest threat is mainstream panic (if brief), via Russia/Ukraine. Once the Winter Olympics are out of the way (the games end Feb'20th) ... then the 'real games' might begin!
For more of the same, you know where to find me...
For 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 5pm EST on Monday.
