PMI Chills
Another day with collapsing markets. PMI figures sending everything lower, while 10 years spreads continue higher. The usual dogs IBEX and the MIB are the under performers, but this time even the DAX is joining the party.
PMI and 10 year spread charts below.
Charts courtesy Scott Barber (Reuters) and Michael McDonough (Bloomberg Brief)
$spx looking to form a H & S top…1340 is a key level…if 1340 does not hold, complete the formation…my models have turned down in all major risk markets over last 2 weeks
Agreed, DAX forming big HS here. About to break down.
Agreed. my largest short is in FXI, breaking below 200 day with OB stochastics. My stop is at 38.72
MACD on DJIA crossed up … spx not far behind
FXI signal reversed…AAPL is struggling with the 622 mark