US markets were mixed overnight with most major indices closing basically unchanged. The small cap Russell 2000 has been the clear outperformer but even this runaway train is starting to “feel” a little stretched and in need of a rest.
MM remains bullish global stocks through 2021 albeit in a volatile manner
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As we can see from the chart below the market has regained a degree of its bullishness but its far from being too complacent. The trading range is becoming obvious – be cautious above 50 and aggressive buyer below 25, as always not a perfect science but one that should also be on the list of indicators worth monitoring carefully.
MM remains bullish stocks over the coming months
