The Bloomberg World Index is a benchmark including more than $60 trillion of global equity market cap(s). Yesterday, it closed under the uptrend from the March-lows. Needless to say, we are at an important inflection point in equity markets around the world.
The S&P 500 also had an interesting day on Thursday. It traded down to the 200-day moving average – give or take a few handles. Here at home, as well as globally, did equities simply need a 5-6% selloff to digest their recent climb(s) before resuming their moves higher? Markets are up 3% here near the open. It’ll be an interesting next 6 hours.
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|Chart of The Day – June 10, 2020|