Week In Review – May 4

Summary Bullet Points

  • EM FX hammered, especially Argentina & Turkey.  Sign of tightening global liquidity with stronger dollar
  • Euro/$ and cable weaker
  • Euro periphery spreads a bit wider
  • U.S. 10-year yield flattish
  • Corporate credit a little weaker x/ CCC
  • Euro stocks stronger on weaker currency
  • S&P500 indecisive, and generates another weekly doji (see here)
  • Our good friend, Greg McKenna, notes the weekly candles keep gravitating back to 2660-70, which is the 38.2 fibo level (2662.64) from the peak to this correction low.
  • S&P500 generated avery rare back-to-back bear trap (broke and closed above 200-day) days on Thursday and Friday.  It has occured only 0.76% of the trading days since 1962
  • JFK-Trump analog 4.3 percent apart after 374 trading days.  Waitng for the break.
  • Egypt, Saudi, and Italy Country ETFs maintain double-digit YTD return.

 

 

Weekly_Chart1

Weekly_Recovery1

Weekly_Recovery2

 

Weekly_JFK_Trump_Analog

 

Weekly_Bull_Bear

 

Weekly_2018_ETFs

Weekly_Table

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9 Responses to Week In Review – May 4

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