The concerns that we wrote in the last edition have not been altered by the latest rise in Equity indices. - those worries are about the many signs of 'froth' that we (and everyone else) see in markets, so a further #upleg' came as no surprise. That was just scene-setting. We form our opinions only from the signals we generate and now we have two top extensions to report:
Obviously, neither if these is a major index, but that doesn't diminish the value of the signals - sometimes the only thing we get at important moments is a signal or two from some less-important market component, as here.
These top signals are only at a daily-scale, but they come on the heels of weekly and monthly-scale signals in Asia, as reported. We would take this seriously, liquidate any remaining longs and start to sell short.
All signals provide by software developed by our friends at Parallax Financial Research www.pfr.com