Update on Markets
Jul 19, 2021
Asia started this week once again on a weak tone.
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.
