The MACD histogram and RSI indicators are hinting that price is attempting to stabilize on this short-term timeframe and may reverse its decline that began in early July.
The following monthly chart of the MSCI World, Global (incl USA) Indexes shows that price is stuck at a triple-top formation, after failing to break out and hold above an all-time high set in January 2018.
The RSI, MOM and ROC indicators have yet to make a new swing high above those also set in January 2018.
In summary, keep an eye on:
- both of these indices and short and longer term timeframes, along with their indicators, as well as
- US 10-Year Treasury yields and ROC and ATR indicators, as outlined in my post of August 16
In this regard, this Zero Hedge article outlines why negative rates do not bode well for world economies, markets and more...