Cumulative net advances, one of the momentum indicators Gavekal Capital look at when assessing the internal strength of the market, has turned negative. This indicator is derived by taking ‘the moving one year sum of the number of advancers less the number of decliners each day and compare it to the price of the relevant index. For the MSCI World Index, net advances turned negative about a month ago and have remained in negative territory since that time”. Full article available here (VIEW LINK)