INFO from Calibre asset Management in Australia
"Equity markets in the US are now significantly overbought with momentum indicators showing the same stretched levels as back at the market peak in May 2011.
The risk of a material pullback on US benchmark indices remains high especially if markets are to make a serious attempt at breaking through the key areas of resistance.
In this regard we prefer to use weakness as a buying opportunity rather than risking fresh capital at a time when markets in the US are stretched on the upside."
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