The Swiss team’s latest report below. Conditions are becoming over bought across many sectors. The internals of 52wk highs not confirming the breakout. Sentiment close to contrarian levels. Things do appear to be setting up for some sort of correction but the price actions doesn’t indicate a top as yet, as they point out. Energy related themes have finally broken out. Copper and the Aud trapped for the moment and the bullion failing to get positive momentum price moves. It has all the appearances, to me, of a low volatility, low momentum continuation drift up. These can last for a surprisingly long while, is the comment i would make here.
For my own book its been a superb start to the year as has been the case for the last 3 years, indeed. Near term, I’m expecting 1.35 eurusd to come into play soon. The gbp to play catch up and the aud to break the 1.06 level on this wave. I’m less bullish on the equities but wouldn’t be surprised to see a little more upside yet due to the dx (dollar index) decline in the most part. I’m not adding to positions here and i’m interested to take profits on a few securities but i continue to run the majority looking for this continuation to run a little further for the moment.
Without more delay here the report (in flash format, apologies to apple users!).
www.capitalsynthesis.com/wp-content/uploads/2013/reports/Wktech-22-01.html
Rich
(14 votes, average: 4.79 out of 5)
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