Global Markets – Weekly Review 1

April 27-28 2024

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EXECUTIVE SUMMARY – NEW SIGNALS & COMMENTS

• U.S. Stocks appear to be at an important Short-term/Tactical turning point within an ongoing Intermediate-Term correction.

  • Weekly Sell signals remain active – a multi-week/multi-month correction is likely still in progress.

  • If a bounce develops, it should ultimately fail – an updated chart review suggests key levels to consider adjusting risk exposure.

• China remains in a confirmed NEW Bull Market – this week’s price action was a classic continuation Buy signal.

  • We’ll cover some key Chinese Stocks that continue to hold my attention.

• Bond Yields & Volatility remain in an uptrend and have room to move significantly higher.

  • We’ll cover potential projections & scenarios I’ve been tracking for the past few months.

• The Dollar is in an uptrend after launching from a multi-month base.

• Precious Metals & Miners may need to pause/consolidate for a while.

SECTION 1:

CORE MODELS & DATA

Core Risk was extremely oversold and turned UP on Monday.

• As shared last week, the model plunged since triggering Sell mid/late March – one of the fastest drops in history.

• With this turn UP confirmed, look for “a” bottom and potential sharp retracement bounce lasting ideally 1-2 weeks.

• It’s possible this was “the” bottom and Stocks will now rally back to the highs – however I consider this a lower-probability scenario, and will present charts as to why.

• Further, Weekly Sell signals remain active – a multi-week/multi-month correction is likely still in progress.

• Another possibility: the current sequence could play out similar to the Buy signals in the correction that ended last October (see chart below).

• Either way: Short-term odds are likely skewed higher.

• Later in this report, we’ll cover potential key chart levels to consider adjusting risk exposure.