Morning Market Commentary & Weekly Charts

We are still not assuming that the Fed will raise the FED Fund rate this year, so, consequently we see US equity markets may trade down within the “normal historic period of seasonal weakness” from May to September, which has been between -8% and -10%, before then a later FED move on raising rates may circumstantiate a more pronounced correction for equities in the US, and globally, to the tune of a -10% to -15% correction.

042015 CGI Morning Market Commentary & Weekly Charts Sell US$, -sell before May & go away- for US & European equities