Week in Review: Global Equity Indices Average RSI = 73

Global equities continue in their strong uptrend.  Most markets are short-term overbought x/ Australia, China, and Mexico — as the average RSI of the major indices we cover is 73!   This has been the case for the past several weeks, however.

Dollar/yen looks like it may have made a generational low as Japan ran its first trade deficit since 1963 in 2011, , of which, is partly structural demographics.    The Bank of Japan quantitative easing measures announced last week added further weakness to the currency.

Should be an interesting week with Greece deal on the line and the market reaction to the PBOC easing of reserve requirements over the weekend.    Good luck!

(click here if charts are not observable)

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