Morning Report Wednesday 6 August 2014
Equity markets are falling as predicted - when do we start buying aggressively?
World equity markets have dramatically changed their tone over recent weeks, now we are falling on good news as opposed to rallying on bad news. Last night, the Dow fell another 140 points on both Ukraine and interest rate concerns. Better than expected US Economic data last night again fuelled worries around the inevitable interest rate rises, this coincides with my macro outlook that we are in “Phase 4” of the Market Cycle shown in chart 1. If this correction unfolds in line with history, the Dow has another 10% to fall over the next ~10 weeks, on top of the recent 4% correction.
I have been stating this for many weeks in the weekend Hickman Report:
Show more...
You need to be a member to view this article
REGISTER FOR FREE INSTANT ACCESS
Already a member? Login Here
