MDM has switched to a BUY signal. Upside volume has been increasing as the NASDAQ Composite and S&P 500 are through their respective 50-day moving averages. Further, yesterday's muted reaction to hawkish views from various Fed members on hiking rates sooner than later seems to imply the market believes rates aren't going anywhere but perhaps lower given the sagging health of the global economy. The ECB added fuel to the QE fire by indicating further easing is necessary.
Market Direction Model - Model switches to BUY on May 24, 2016
| Published: | 24 May 2016 16:24 ET |
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