The independent financial analyst theScreener just requalified the general evaluation of JAPAN ELEVATOR SER (JP), active in the Industrial Machinery industry. As regards its fundamental valuation, the title still shows 0 out of 4 stars and its market behaviour is seen as moderately risky. theScreener believes that the unfavourable environment weighs on the sector and penalises the company, which sees a downgrade to its general evaluation to Slightly Negative. As of the analysis date January 21, ...
Global Equities Flirting With A Breakout Major support levels we pointed to in last Thursday's Int'l Compass held strong, leading to a strong bounce so far this week. The MSCI ACWI, ACWI ex-US, EAFE, and EM indexes have had such a strong bounce that the concern of lower highs has been removed. If fact, several indexes and countries are showing signs of breaking out (MSCI ACWI, MSCI EM, and Japan to name a few). No matter how you look at it this is a positive sign, however we need to see these l...
Battleground Spot For Global Equities Last week we highlighted what appeared to be rising wedge breakdowns in the MSCI ACWI, ACWI ex-US, EM, and EAFE indexes, and suggested some consolidation made sense as we get a feel for how the process of re-opening the economy is going. It ended up being a very brief consolidation period and all horizontal support levels held strong. With all the aforementioned indexes breaking above the resistance levels that we highlighted last week, it tells us momentum...
Global Rally Losing Upside Momentum The global rally appears to be losing steam as the bearish rising wedge patterns we highlighted last week in the MSCI ACWI, ACWI ex-US, EM, and EAFE indexes ended up breaking down. Additionally, the aforementioned indexes and major indexes in Europe, Japan, and Hong Kong have been unable to break above longer-term resistance. While we believe global equities remain vulnerable to a pullback, some near-term consolidation is another possibility. For now we belie...
Fed cut, now what? The Fed's 25 bps cut and Powell's evasiveness in committing to a new easing cycle was seen as more hawkish than expected. In our opinion Powell was essentially saying the Fed will act as appropriate moving forward, and we can't blame him considering this was largely an “insurance cut†as opposed to a rescue attempt to avoid recession, and we may or may not need additional insurance moving forward. Overall the weight of the evidence supports further consolidation - i.e., n...
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