Following strong positive moves for global markets in May and early June, our read is that markets are now significantly overbought.

clearTREND identifies “overbought” conditions during which markets have gotten ahead of themselves and whether a short-term pullback is likely. It also measures “oversold” conditions which can help to determine if a downward move is likely to reverse itself. These conditions can help us to identify strategic opportunities to add to positions for new clients and to potentially rebalance existing client accounts.

We continue to monitor current market and economic conditions daily, and remain vigilant against a renewed market downturn. At the present time, no adjustments are prescribed but we will continue to monitor markets should a new market downturn emerge.