It was a mixed month for world equity markets, with net monthly changes ranging from -34.7% (Russia), -6.5% (Germany), -4.6% (Hong Kong), -3.5% (USA), -3.0% (India), -1.8% (Japan), +0.8% (Australia), +0.9% (Brazil), +3.0% (China), to +3.9% (South Africa).
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
Six world equity markets were net lower for February, with four net higher.
Russia saw an outright crash, whilst South Africa managed rather powerful gains.
South Africa broke a new historic high.
Nine world equity markets are trading under their respective monthly 10MA, the exception being South Africa.
Eight world equity markets have negative monthly momentum, the two exceptions being India and South Africa.
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Looking ahead
A busy week is ahead, the highlight will be the latest inflation data, with headline y/y CPI to be near/above 8.0%.
Earnings:
M - NIU, CIEN, SQSP
T - DKS, WOOF, BMLB, SFIX, CASY
W - ZIM, CPB, CRWD, FNV
T - JD, AG, BLNK, DOCU, RIVN, ORCL, ULTA, WPM
F -
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Econ-data:
M - Consumer credit (3pm)
T - Intl' trade, wholesale invent'
W - JOLTS, EIA Pet'
T - CPI, Weekly jobs, US T-budget
F - Consumer sent'
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Final note
It should be clear, along with many other world equity markets, the US is short/mid term broken. Every single bounce is being sold into, as we have a series of lower highs and lower lows.
Whilst some are touting a rally once the Russia/Ukraine situation resolves (whatever you might deem as 'resolves'), the market was broken before that.
The setup into the spring has to be seen as bearish, and the downside targets should be clear.
Yours truly will continue to call the market, and other 'societal' /geo-political issues for what they are. If you're tired of the mainstream media hacks, then you know where to find me.
If you value my work, subscribe to my intraday service.
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.
