As global equities continue to post new all-time highs, we have to embrace the bullish trend until further notice; from a technical perspective, the MSCI World Index is in a “buy the dip” cycle unless we see a break back below the 3150 level, or just over 6% lower. Many investors, including ourselves, thought equities might struggle to add to their late 2023 gains, but the grind higher has been unrelenting, and as the likes of the Nikkei and Bitcoin have demonstrated, there’s plenty of money looking for a home, remember the more than $US2.5 trillion in cash reserves being held by private equity looking for an opportunity, enough money to buy the ASX200!
