Summary:

The Probability Conviction Level is slightly positive for this week. This is an indication that there is a positive probability for potential gains in the global equity markets. It is primarily driven by positive Copper price movement and flat BDI (Baltic Dry Index) action.

Copper Futures:

Copper Futures, a forward-looking indicator of global economic activity, are illustrating an some conviction as it opened up to the upside. We have seen strong movement in Copper Futures for the last few weeks and although one shouldn’t be surprised a retracement it keeps running higher on Asian strength. We remain optimistic over the long term but cautious in the immediate period.

http://www.bloomberg.com/markets/commodities/futures/

Baltic Dry Index:

The Baltic Dry Index seems came out with strength early last week but then lost steam to close the week flat. This illustrates consistent levels of demand and supply. Neither one has enough strength to push the index value either way.

BDIY: BALTIC DRY INDEX Summary - Bloomberg

Probability Conviction Level:

The Probability Conviction Level is a custom indicator. The basic concept is that it provides a probability level and indication for potential positive or negative movement in the coming week global equity markets.

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