Update

The sun has woken up. Current sunspots are more in line with a rising trend.

A geomagnetic storm is in progress, so caution. But the extended geomagnetism forecast continues to show a flat to upwards trend ahead, which should provide support for risk assets.

I have updated all the short term and medium models, on their relevant pages.

Economic Surprises for major economies finally went negative yesterday – a bearish development.

Source: Bloomberg

European PMIs were weaker than expected, suggesting Europe is not out of recession yet. Leading indicators for Germany and China came in positive.

The US dollar remains undecided in the nose of its triangle, but running out of room. I maintain the expectation that the FOMC outputs may push it one way or the other.

Source: Stockcharts

Spain, Italy and France CDSs continue to rise. Portgual CDSs have fallen away and out of the limelight. But the bigger trio have the potential to overwhelm the markets if this continues.

Apple earnings today after the bell.

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3 thoughts on “Update

  1. John, I agree with you. We should be up into approx May 16th overall. There is a turn on Wednesday (tomorrow) so we should be down into Thurs this week, but then we could start to turn up into May 2nd or so, then down into the 7th, then up…into 16th. We may see volatility after that, maybe triple top again. There is a major Bradley turn date on June 12, we could see the market sharply down into June 27-July 3rd…

    This is based on astro’s and charts that I have seen, let’s see how it plays out…

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