Reported 5 months ago
Bank of America's strategist Michael Hartnett warns that the global equity market rally is nearing a sell signal, as about 71% of equity indexes are trading above both their 50- and 200-day moving averages, with a reading above 88% potentially triggering a contrarian sell signal. Despite reaching record highs, the MSCI All-Country World Index faced a decline this week amid concerns over the outlook for monetary easing and Barclays Plc strategists noting that the rally appears to be losing steam. Inflows were seen across major asset classes, with global equity funds receiving $10.5 billion and bond funds attracting $12.5 billion in the week through May 22.
Source: YAHOO