Buyers return, but the trend loses conviction
Vanguard FTSE All-World ex-US: +0.6% this week, but MACD turns bearish
Buyers return, but the trend loses conviction
Our view last week
Vanguard FTSE All-World ex-US is in week 12 of a buy signal that has exhausted the model's coverage: all 3 statistical targets have been hit and the stop now follows the Inversion Point, in the 81.5 area. The trade is up 4.76% from entry. On the technical side, the week closed slightly higher, but buy volume has collapsed since early June, and price stays compressed between the first resistance and the first support near the highs.
This week's summary
Weekly technical analysis. Buying volume came back with force this week, at 68% of turnover versus 47% the prior week and just 16% during the pullback two weeks ago. But the weekly MACD has just crossed bearish and the ADX has fallen for a fourth straight week: the trend is losing conviction even as price keeps grinding higher, if only slightly (+0.6%). Vanguard FTSE All-World ex-US stays boxed into a tight band near the highs, between the 83.6 and 83.3 areas, with money flow still positive but
IQS Phase
53
ordinary
Signal Strength
42
medium · weak
Sizing
REDUCED
Ranking
#85 / 129
US stocks in progress
Trade P&L %
+5.42%
from signal to today
restricted Platinum content