Canada & Australia optimism
Sentiment across the world is subsiding as various stock markets pull back. Canada Optix's 10 day moving average has fallen to the lowest level in almost half a year, ending a long streak of elevated sentiment.
When this happened in the past, the S&P/TSX Composite's future returns were mixed:
Across the Pacific, Australia Optix is also no longer elevated for the first time since this post-pandemic bull market began.
When this happened in the past, Australian equities usually pulled back over the next 2 months: