Global Markets – Weekly Review 5

What I’m watching to confirm an important turn in markets.

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EXECUTIVE SUMMARY — NEW SIGNALS & COMMENTS

• The Stock rally which began at the April 19 lows — when Core Models were Bullish — may soon be over.

  • Topping structures may take some days, but for the groups that matter (and are exhibiting clear Negative Momentum), the rally looks largely over.

  • Weakness has been spreading in key areas — a leading indicator.

  • The list of important Stocks with Negative Momentum is expanding.

  • We’ll cover the signals I’m watching to confirm an important turn.

  • Some could potentially confirm as early as next week.

  • I’ll update if / when they trigger.

• Rates, the Dollar and Volatility are at an important juncture.

  • Bond Yields and the Dollar are showing signs of a classic Trend extension.

  • We’ll update the key charts from Thursday’s post, and expand on several new signals & ideas.

  • Signals are triggering without delay — a subtle, but important change in tone.

• Oil and Energy Stocks haven’t shown relative strength yet, but the potential is still there.

• Metals are developing a potential reversal pattern — as discussed earlier this week.

• Crypto remains constructive for now.