Twenty-three developed markets fell 0.6% on average and 12 are in a Confirmed Uptrend, the 57th week with a majority. Twenty-three emerging markets were flat on average
and 19 markets are in a Confirmed Uptrend, the 38th week with a majority.
Author: Kenley Scott
Kenley Scott is a senior equity analyst and sector strategist covering the APAC region and the Energy sector. He is a member of the Global Focus List Committee, which approves all equity recommendations for developed, emerging, and frontier markets. Kenley also writes the Global Sector Summary, part of the Sector Strategy service, which identifies emerging sector strength and weakness across 46 countries every week. After working as a commodities broker, Kenley joined the firm in July 2006. He has a B.S. in Statistics from the University of California, Riverside and also holds a Series 65 securities license.
Global Sector Commentary
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Global Sector Commentary
Twenty-three developed markets rose 0.8% on average and 12 are in a Confirmed Uptrend, the 55th week with a majority. Twenty-three emerging markets rose 1.4% on average and 19 markets are in a Confirmed Uptrend, the 36th week with a majority. Hong Kong led developed markets with a 3.0% gain, closing at 52-week highs. Most of Europe bounced, but a majority of markets remain in a Downtrend. These include France, Germany, and Sweden. The U.S., U.K., Japan, and Australia are among seven markets that are Under Pressure. China was shifted back into a Confirmed Uptrend following a Friday follow-through day for the Shenzhen. Markets in a Confirmed Uptrend, near 52-week highs, and with less than four distribution days include Brazil, South Africa, Taiwan, Thailand, and Turkey. India and Mexico are among a handful of markets with at least 5 distribution days.
Markets Bounce but Pressure Remains
Twenty-three developed markets rose 0.4% on average and 15 are in a Confirmed Uptrend, the 54th week with a majority. Twenty-three emerging markets rose 0.6% on average and 18 markets are in a Confirmed Uptrend, the 35th week with a majority.
Global Markets Shaken but not Broken
The Russell Global Index was down just over 1% for the week. While not a huge loss,it was the biggest of the year, sending the index down to 10-WMA support. Twenty-three developed markets fell 1.9% on average and 13 are in a Confirmed Uptrend, the 53rd week with a majority. Twenty-three emerging markets fell 0.8% on average and 19 markets are in a Confirmed Uptrend, the 34th week with a majority.
The Long Rally Continues
Twenty-three developed markets fell 0.9% on average and 14 are in a Confirmed Uptrend, the 52nd week with a majority. Twenty-three emerging markets gained 0.5% on average and 20 markets are in a Confirmed Uptrend, the 33rd week with a majority.
Global Uptrend Intact Despite European Weakness
Twenty-three developed markets fell 0.2% on average and 15 are in a Confirmed Uptrend, the 51st week with a majority. Twenty-three emerging markets gained 0.2% on average and 20 markets are in a Confirmed Uptrend, the 32nd week with a majority.
Global Energy Sector
In our last Energy sector update, we analyzed statistics reflecting the Energy sector’s sharp trailing six-month underperformance versus the S&P 500. Its 22-23% lag versus the S&P 500 as of June 7 was in the top 4% worst lags since 1970.
Since then, as expected, there has been some reversion.
Emerging Continues to Lead, Europe Remains Weak
Twenty-three developed markets fell 0.6% on average and 16 are in a Confirmed Uptrend, the 50th week with a majority. Twenty-three emerging markets were flat on average and 19 markets are in a Confirmed Uptrend, the 31st week with a majority.
Markets Shaking off Distribution
Twenty-three developed markets gained 1.9% on average and 19 are in a Confirmed Uptrend, the 49th week with a majority. Twenty-three emerging markets rose 0.7% on average and 18 markets are in a Confirmed Uptrend, the 30th week with a majority.
