Two weeks ago we posted that the global markets were near a bottom based on our measures. Since then they have rebounded considerably. We are not out of the woods yet though. US Treasuries and Gold are still very much bullish according to the model. Even so, they are losing some bullish strength. Once the model suggest no more bullishness then we are out of the woods for the time being.
However, select equity market are now becoming bullish which is a good sign. Prior to July 31 there were no equity markets that were bullish. Here are the top equity markets:
South Africa
Mexico
India
Japan
China
For those that are risk takers, we view Indonesia and Malaysia are coming back hard. When markets are at the bottom of our list we find they typically come back strong. These markets are at the bottom of our list now.
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