In today’s briefing:
- Downgrading Germany and Ireland; Global Technology Still Leading; Crucial Base Supports Holding
Downgrading Germany and Ireland; Global Technology Still Leading; Crucial Base Supports Holding
- We discussed in last week’s June 19 report how bullish price and RS trends on Israel’s TA-125 was our tell that global equities were looking past Israel-Iran tensions.
- Now completely in the rear-view mirror. We also discussed how we were expecting short-term support on ACWI-US at $123-$123.50 (6.5-month base support), and ACWI-US bottomed at $123.20 on Monday.
- As a result, we remain near-term bullish since our 4/22/25 Compass, and our intermediate-term outlook remains bullish as well (as of our 5/14/25 Compass).
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