A critical factor in risk-asset pricing is inflation expectations and inflation expectations are directly affected by the price of commodities. Looking at the futures markets, equity bulls should be concerned. The damage to commodities is already showing in the Chinese equities complex.
But for now, the (western) world is relieved feeling Euro-phoria from polling showing French presidential candidate, Emmanuel Macron, leading Marine LePen... and we all know how reliable polls can be.
A contracting number of stocks trading above their 20-ma...
...and 200-dma...
... in addition to a divergence in new 52wk highs is a powerful precursor to significant corrections and trend reversals.
Take a "sneak-peek" at Seattle Technical Advisors.com