Slope of Hope Blog Posts

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World Market Index: 150-Point Gain Since March

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When I wrote my article on March 10th, the World Market Index was trading around the 1750 level. Today (Wednesday) it closed just shy of 1900, where it faces the next resistance hurdle, as shown on the following Daily chart.

Inasmuch as the RSI is above the 50 level, I’d watch for a bullish crossover to occur on the MACD and PMO indicators to confirm that any breakout above 1900 has enough support to reach the next resistance target of 1950, or even 2000.

Failure to regain and hold above 1900 could negatively impact U.S. equities.

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