Country and Regional Stock Markets
Yesterday’s stock market action was meaningful and broad-based. Even though the S&P 500 did not turn bullish per my model, the indications that it will are good. As of now 3 out of the 15 sectors that I track are bullish. Energy never had a downturn of course. But Healthcare (XLV) and Utilities (XLU) turned bullish this week.
Looking at the countries and region around the world:
The countries shaded in green are the ones that turned bullish this week. Last week every country and region were trending bearish. So, this is quite a significant reversal. Also, we can see that the 1-week trailing return as of yesterday’s close are all positive.
This is a good development and bodes well for the S&P 500 to turn bullish in the near future as well.
My current positions are:
Medium term XLU call options
Medium term XLV call options
Long-term COIN call options
Long-term APPS call options
If the S&P 500 turns bullish in my model, I will deploy more capital into the markets.