Update on Markets

Asia started this week once again on a weak tone.

Source: Bloomberg

Large-cap sectors like the Internets, Semiconductors and even the Commodities sector continue failing to show leadership. We now also have the added burden of tired-looking U.S. indices.

Looking at the MSCI Apex50 index, the inability to follow through as it hit the 20/50/200 day moving averages, coupled with the inability of the technical indicators to show strength, suggests there is now a heightened chance we might re-visit or even break the 9th July low.

ATEC is once again back to humbly keeping a low exposure, and waiting for further signs of selling exhaustion in the days ahead.