The Swiss team’s latest report here below continuing the recent theme of over bought, over bullish sentiment, topping of the periphery bond values at key resistances, etc, etc.

Due the recent price action we are encountering some early price distribution with 1496 now becoming a near support for the S&P500. They also bullishly cover the HUI index and they single out the Nasdaq tech index as providing the positive short beta in the likely near term weakness. I’m pressed for time so i can’t comment further other than to say watch the GBP vs the Euro.

(This isn’t simply about trading the fx pair, note.  It also helps define the positive beta way to play any corrective move we might see. I.e. if you are short euro assets with pound listed securities then you will get a double whammy if the euro equities move down and the euro loses value vs the GBP. Lets continue to pick up on these sorts of trading issues in the forum pages).

 

Without more delay here the report. (In flash format – apologies to apple users).

http://www.capitalsynthesis.tech/wp-content/uploads/2013/reports/Weekly05-02.html

Rich

 

 

 

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