
The US market closed in a positive note today, however last week focus was risk management.
Based on the price action yesterday afternoon and today one can argue that sellers did not have any interest in engaging at current levels. Short covering initiated at -5.5% from two weeks high
Strong positions were bought in Tech as Market Internals were positive while the stocks were trading lower Tuesday and Wednesday at certain time. The chart below, at the close of yesterday, gave a negative month for SPX, a flat week and a negative Quarter.
European Indexes show a weaker picture than US Indexes. YTD is negative. Quarterly and monthly charts give a reflection of how thing are in Europe
On the emerging market side, the equity indexes do no look much better. The YTD is -15% and the Quarter showed at yesterday close -6.4%. The monthly chart is clear giving us 8 negative month from the last 10
The fund flows for the year gives a clear picture Money Markets in Asia, Bond is Europe and USA. Equity USA +200Bn and Equity EU +115Bn