In today’s briefing:
- MSCI ACWI Ex-US, EAFE Testing Downtrend Channel Supports — Bounce Potential
MSCI ACWI Ex-US, EAFE Testing Downtrend Channel Supports — Bounce Potential
- Many major indexes have broken below critical supports, including MSCI ACWI (ACWI-US), EURO STOXX 50, STOXX Europe 600, and the DAX.
- Odds suggest a bearish downside continuation, and a bearish outlook is appropriate as long as the YTD downtrend remains intact on the ACWI-US, MSCI ACWI ex-US (ACWX-US), and EAFE (EFA-US).
- There is bounce potential given these broad global indexes are testing their respective downtrend channel supports, but the fact remains that they are in downtrends, a major problem longer-term.
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