Weekly Macro Themes - Bullish China A-shares on cheap valuations

This week I covered the following topics/ideas:

1. US Dollar: After a sharp rally, the DXY is now overbought, facing a major overhead resistance zone, consensus bullishness, fading seasonal tailwinds, expensive valuations, and monetary/fiscal headwinds.

2. China: Bullish China A-shares on cheap valuations, improved technicals, stepped up stimulus and fading tail risks (initial rebound in property prices), and excess pessimism (global/US).

3. Commodities: Remain bullish commodities on cheap valuations, supply tailwinds, sentiment/positioning signals, multiple bullish technical indicators, and the prospect of global growth reacceleration.

4. Oil & Energy Stocks: Continue to see upside risk for crude oil given sentiment/technicals and robust demand, but arguably geopolitical tail risk has reduced somewhat, and major support line is at risk.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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