The U.K. Stockmarket ended the week slightly higher. The Pound fell to an eighteen month low against the dollar with disappointing retail sales data raising doubts about a rate hike in August. Our Breadth Indicator stayed neutral this week and our Momentum indicator ticked lower.
The U.S. Stockmarket was almost flat this week but the Nasdaq index reached a new high on Tuesday. At the end of the week stocks weakened along with the dollar as President Trump threatened new tariffs on Chinese imports and complained about the dollar’s strength and Fed rate rises. Our Breadth indicator remained positive and our Momentum indicator ticked up again.
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