Market Briefs & Sentiment Outlook (MBSO)
Reported by Tony Carrion


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November 12, 2017







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A Look at Global Stocks

As its name suggests, the MSCI World Stock Index is composed of stock markets and bourses representing 23 countries around the world. The Elliott Wave pattern suggests the global bull market in equities is likely to continue into 2018.



Shorter-term there's an increasing risk of a setback developing as the wave (3) top gives way to a correction in wave (4). There's no evidence wave (3) is complete, and a push above 2100 isn't ruled out. That said, enough of it has traced out to be counted as within topping.


The implication is that global stocks are likely to experience their deepest setback since June 2016, on the heels of the Brexit vote. But it should only prove temporary as stocks continue their advance into next year.


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