right markets everytime MarkeTiming Selection current week MarkeTiming Allocation weekly evolution Archive MarkeTiming Selection current year previous years MarkeTiming Reports are independent and sample studies that represent specific financial market situations. They do not constitute consultancy or solicitation for investment or public savings. The MarkeTiming Selection is a weekly updated report with a constant outlook on all the main financials markets. Our report identifies the Optimal Market Portfolio Allocation every week. So we can also derive the comparative tactical adjustments, week by week, on each market. These assessments are processed on specific stability indicators, current trend detectors, changes in expressed volatility, synthetic risk/return assessments and original timing signals that complete the model. Below is the MarkeTiming Selection of the current week and, following, the reports of the previous weeks. MarkeTiming Selection for the week of 14/6/2021 This Report is a rappresentative study of markets stance and does not constitute an investment advisory service. MARKET SELECTION weekly outlook TREND STABILITY PRIMARY TREND trend evolution VOLATILITY STANCE range evolution VOLATILITY DINAMIC volatility evolution TIMING RESISTENCE SUPPORT POWER Stability Trend Dynamic Timing Power LONG TERM MEDIUM TERM SHORT TERM 28/mag 04/giu 11/giu 28/mag 04/giu 11/giu 28/mag 04/giu 11/giu 11/giu 11/giu 11/giu Stocks FTSE_MIB_(ITALY) 11% 14,9% 5,8% 2,0% 3,8% 0,8% 1,6% 0,6% 6,6% 2,0% 1,7% 1,6% 8,6% 11,2% 26,5% 6,7% -1,1% CAC_40_(FRANCE) 11% 9% 13% 15,9% 6,8% 1,5% 3,4% 1,5% 0,5% 1,3% 6,4% 1,8% 1,2% 1,9% 16,8% 87,0% * -2,5% 19,1% 10,6% DAX_(GERMANY) 8% 12,0% 4,9% 0,8% 1,8% 0,5% 1,1% 0,0% 5,0% 1,4% 1,9% 1,4% 5,7% -19,6% * 38,6% -4,0% 1,3% FTSE_100_(UK) 6% 16% 8,7% 3,4% 0,5% 1,3% 0,1% * 0,7% 0,9% 3,4% * 1,0% * 1,5% 1,4% 4,9% 17,6% 8,6% 12,9% Dow_ Jones_Ind_Av_(USA) 8% -12% 11,5% 4,0% 0,5% 0,2% * 0,8% 0,7% -0,8% * 4,0% 1,1% 1,5% -1,4% 16,7% 2,5% 67,7% 4,5% -9,3% Nasdaq_100_(USA) 6% 13% 8,9% 3,1% 1,7% 4,4% 2,1% 0,6% 1,7% 7,3% 1,9% 2,3% 2,1% -6,5% * -18,7% * -7,3% 2,6% Nikkei_225_(JAPAN) -5% 6,6% -0,8% * 1,1% 3,1% 2,9% -0,7% 0,0% 5,6% 3,4% -2,0% -1,5% -5,8% 11,3% -17,2% -10,7% Hang_Seng_(HONG KONG) -11% 5,2% -0,6% 0,0% * 3,1% 2,5% -0,8% * -0,1% 5,2% 4,2% -2,8% * -1,4% 8,0% 31,1% 7,2% -0,6% -8,8% Shanghai_Comp_(CHINA) 4% -9% 4,7% * 2,6% 0,7% 2,8% 3,3% * -0,2% -0,1% 4,4% 4,4% * -1,9% -1,7% * 11,1% 40,9% 15,4% -18,2% -2,7% BSE_Sensex_(INDIA) 9% 23% -35% 12,5% 4,4% 1,9% 7,7% 1,7% 1,3% 0,7% 7,2% 2,1% 2,3% 1,8% 8,7% 71,2% -72,3% * 2,6% RTSI_(RUSSIA) 16% 25% 24% 20,3% 10,4% 3,4% 8,4% 2,2% 2,7% 1,9% * 9,5% 3,1% 3,5% 3,3% 7,0% 28,0% 24,7% 18,7% Ibovespa_(BRAZIL) 21% 39% 41% 23% 21,4% * 15,9% * 6,2% * 12,9% * 1,0% 9,2% * 0,8% 12,8% * 2,1% 7,8% * 4,4% * 36,3% * -1,6% 94,8% * 85,2% * 18,4% Currency & Comodity EUR/USD -15% -44% 1,5% * 1,1% * -0,2% * -0,3% * 0,1% -0,2% -0,5% -1,4% 1,1% -1,2% -1,0% -0,3% -3,1% 43,7% -18,7% -30,5% -32,8% Gold 8% 2,9% 5,7% 0,2% 2,0% 1,3% -0,6% -0,8% 4,0% 2,1% -3,2% -1,8% -11,3% 7,1% -23,8% -6,1% 3,6% Crude_Oil_WTI 40% 44% 18% 32,2% * 10,5% 3,9% * 8,3% 4,3% 4,2% 2,0% 14,2% 5,8% 4,8% 3,9% 7,4% 23,3% 23,2% 4,7% Natural_Gas 25% 56% 42% 30% 14,8% 11,3% * 3,1% 10,6% * 3,3% 3,5% 6,0% 14,1% 4,7% 4,3% 9,2% 17,4% -9,5% 33,8% 53,8% 2,8% 40,7% Agricolture 27% -25% -25% 21,0% 8,3% 2,3% 0,4% 0,9% 2,8% -0,6% 10,1% 5,4% 5,2% -4,3% -0,7% 10,7% 20,7% -31,5% -2,7% -33,3% Bond BGOV_ITA_BTP 27% -0,6% -0,2% 0,7% 2,3% 0,8% 0,3% 0,7% 2,8% 0,9% 0,5% 1,1% 1,0% 18,0% 12,0% -0,4% BGOV_GERM_BUND 18% 16% -1,7% -0,3% * 0,4% 1,1% 0,4% 0,2% 0,4% 1,5% 0,7% 0,4% 0,6% 18,2% 34,7% 5,3% 42,2% 0,7% 29,4% BGOV_UK_GILT 21% 16% -3,3% * -0,2% 0,5% 1,8% 0,8% -0,1% 0,9% 2,7% 1,4% 0,9% 1,4% 8,4% -135,3% 9,8% 19,4% -7,7% 37,8% BGOV_USA_Treasury 39% 24% -2,0% 0,4% 0,4% 1,0% 0,2% 0,3% 0,5% 1,4% 0,4% 0,5% 0,7% -0,6% -16,0% 27,7% 92,3% 5,2% 37,8% BGOV_Emerg_Mrkt 62% 23% 16% 0,0% 1,3% * 1,2% * 2,0% 0,5% 1,3% 0,4% 3,1% 1,1% 1,5% 1,2% 17,5% 17,8% 20,2% 37,1% -0,9% BOND_Corp_Europa -0,1% 0,1% 0,3% * 0,7% * 0,3% 0,3% 0,2% 1,2% 0,4% 0,4% 0,5% 5,8% -7,3% 6,5% 28,0% 8,3% BOND_Corp_Usa 29% 27% 28% -2,2% 0,2% 1,0% 2,5% * 0,4% 0,5% 1,8% 3,9% 1,0% 1,3% 2,0% 25,7% 30,0% 6,3% 62,3% 4,6% 46,0% BOND_Corp_Emerg 16% -0,6% -0,2% 0,6% 1,3% 0,3% 0,1% 1,2% 2,5% 1,4% 1,2% 1,3% 14,0% 19,3% 39,8% 18,8% -3,8% 33,0% BOND_High_Yeld_GL 38% 0,9% * 0,0% 0,6% 0,9% 0,3% 0,5% 0,5% 2,1% 0,8% 0,9% 0,9% -15,1% -51,4% 39,2% -16,4% 0,6% © MarkeTiming Research (ALL RIGHTS REDERVED) MarkeTiming Selection for the week of 14/6/2021 Stocks FTSE_MIB_(ITALY) Stable and aligned UpTrend about 3,8% in weekly progression. Bearish suppot under 25515. Reducing Volatility stance in a range of 1,5% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from 11% to -6%. CAC_40_(FRANCE) Stable and aligned UpTrend about 3,3% in weekly progression. Bullish resistence over 6607. Increasing Volatility stance in a range of 1,8% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from 11% to 0%. DAX_(GERMANY) Stable and aligned UpTrend about 1,7% in weekly progression. Bearish suppot under 15505. Increasing Volatility stance in a range of 1,4% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from 9% to 0%. FTSE_100_(UK) Stable and aligned UpTrend about 1,2% in weekly progression. Bullish resistence over 7140. Increasing Volatility stance in a range of 1,3% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from 6% to 0%. Dow_ Jones_Ind_Av_(USA) Stable and aligned UpTrend Take a Short Position with a Tactical Adjustment on portfolio composition from 8% to -1%. Nasdaq_100_(USA) Stable and aligned UpTrend about 4,4% in weekly progression. Bullish resistence over 13998. Increasing Volatility stance in a range of 2% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 5% to 7%. Nikkei_225_(JAPAN) Unstable UpTrend about 3% in weekly progression. Bearish suppot under 28799. Increasing Volatility stance in a range of -1,5% (risk weight). Hang_Seng_(HONG KONG) Unstable UpTrend Take a Short Position with a Tactical Adjustment on portfolio composition from 4% to -4%. Shanghai_Comp_(CHINA) Stable and aligned UpTrend Take a Short Position with a Tactical Adjustment on portfolio composition from 10% to -8%. BSE_Sensex_(INDIA) Stable and aligned UpTrend about 7,6% in weekly progression. Bearish suppot under 51717. Reducing Volatility stance in a range of 1,7% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 14% to 1%. RTSI_(RUSSIA) Stable and aligned UpTrend about 8,3% in weekly progression. Bearish suppot under 1637. Increasing Volatility stance in a range of 3,3% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 14% to 6%. Ibovespa_(BRAZIL) Stable and aligned UpTrend about 12,8% in weekly progression. Bearish suppot under 20391. Increasing Volatility stance in a range of 4,4% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 25% to 3%. Currency & Comodity EUR/USD Unstable DownTrend about -0,2% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from 2% to -2%. Gold Stable UpTrend Take a Short Position with a Tactical Adjustment on portfolio composition from 15% to -11%. Crude_Oil_WTI Stable and aligned UpTrend about 8,2% in weekly progression. Bearish suppot under 68. Increasing Volatility stance in a range of 3,9% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from 43% to -1%. Natural_Gas Stable and aligned UpTrend about 10,6% in weekly progression. Bullish resistence over 3. Increasing Volatility stance in a range of 9,2% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 26% to 14%. BOND_Corp_Emerg Stable and aligned UpTrend Take a Long Position with a Tactical Adjustment on portfolio composition from 26% to 0%. Bond BGOV_ITA_BTP Unstable UpTrend about 2,3% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from 26% to 0%. BGOV_GERM_BUND Unstable UpTrend about 1% in weekly progression. BGOV_UK_GILT Unstable UpTrend about 1,8% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from -19% to 40%. BGOV_USA_Treasury Unstable UpTrend about 1% in weekly progression. BGOV_Emerg_Mrkt Stable UpTrend about 2% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from 37% to 23%. BOND_Corp_Europa Unstable UpTrend about 0,6% in weekly progression. BOND_Corp_Usa Unstable UpTrend about 2,5% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from 0% to 29%. BOND_High_Yeld_GL Unstable UpTrend about 1,2% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from 7% to -7%. Agricolture Stable UpTrend about 0,8% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from 9% to 14%. © MarkeTiming Research (ALL RIGHTS REDERVED) MarkeTiming Selection for the week of 7/6/2021 This Report is a rappresentative study of markets stance and does not constitute an investment advisory service. MARKET SELECTION weekly outlook TREND STABILITY PRIMARY TREND trend evolution VOLATILITY STANCE range evolution VOLATILITY DINAMIC volatility evolution TIMING RESISTENCE SUPPORT POWER Stability Trend Dynamic Timing Power LONG TERM MEDIUM TERM SHORT TERM 21/mag 28/mag 04/giu 21/mag 28/mag 04/giu 21/mag 28/mag 04/giu 04/giu 04/giu 04/giu Stocks FTSE_MIB_(ITALY) 10% 13% 11% 14,0% 5,0% 1,7% 3,9% 0,8% 0,8% 1,6% 6,7% 3,4% 2,0% 1,7% 15,8% -26,3% 11,2% 26,5% CAC_40_(FRANCE) 12% 15,7% 6,8% 1,6% 2,0% 0,0% 1,5% 0,5% 5,8% -3,5% * 1,8% 1,2% 14,2% -21,5% 87,0% * -2,5% DAX_(GERMANY) 9% 15% 12,1% 5,2% 1,1% 1,9% 0,1% 0,5% 1,1% 5,7% 3,7% 1,4% 1,9% 14,8% -0,1% -19,6% * 38,6% FTSE_100_(UK) 6% 8,8% 3,5% 0,5% * -0,9% -0,4% 0,1% * 0,7% -4,8% -2,9% 1,0% * 1,5% -29,1% * -23,9% Dow_ Jones_Ind_Av_(USA) 9% 27% 12,1% 4,8% 0,8% -0,1% -0,5% * 0,8% 0,7% -4,7% -2,7% 1,1% 1,5% 6,1% -9,0% 2,5% 67,7% Nasdaq_100_(USA) 5% 22% 7,7% 1,7% 1,4% 0,4% 0,0% 2,1% 0,6% 6,0% 4,3% * 1,9% 2,3% -6,2% 18,8% * 3,6% 30,2% Nikkei_225_(JAPAN) 7,0% -1,0% * 1,4% -1,4% * 0,8% 2,9% -0,7% -8,0% * 3,0% 3,4% -2,0% -18,2% -0,9% 11,3% -17,2% * Hang_Seng_(HONG KONG) 4% 6,8% 0,4% 1,7% 1,0% 1,5% 2,5% -0,8% * 6,4% 2,1% 4,2% -2,8% * 5,0% -17,0% 31,1% 7,2% -2,3% Shanghai_Comp_(CHINA) 5% 17% 5,0% * 2,9% 1,9% 5,1% -0,1% 3,3% * -0,2% 6,9% -1,4% 4,4% * -1,9% 26,6% -32,4% * 40,9% 15,4% 3,2% BSE_Sensex_(INDIA) 10% 19% 12,6% 4,0% 2,9% 5,9% 3,7% * 1,7% 1,3% 7,7% 3,3% 2,1% 2,3% 1,6% 14,9% -0,2% RTSI_(RUSSIA) 14% 15% 10% 26% 18,1% * 8,6% 2,6% 4,4% 1,3% 2,2% 2,7% 8,1% 2,7% 3,1% 3,5% 9,1% -11,5% 28,0% 24,7% 39,4% Ibovespa_(BRAZIL) 15% 36% 38% 52% 16,3% 11,1% * 3,7% * 11,0% * 1,6% 1,0% 9,2% * 11,9% * 2,2% 2,1% 7,8% * 29,7% * -15,9% -1,6% 94,8% * 15,6% 64,5% Currency & Comodity EUR/USD 3% 36% 30% 1,7% * 1,3% * 0,0% * 0,0% 0,3% 0,1% -0,2% 1,8% 1,0% 1,1% -1,2% 2,5% -9,4% -3,1% 43,7% 30,6% Gold 10% 22% -20% 36% 3,0% 6,2% 1,2% 3,3% 2,0% 1,3% -0,6% 5,9% 2,6% 2,1% -3,2% -10,1% -25,2% 7,1% -23,8% 4,4% 32,3% Crude_Oil_WTI 40% 47% 34% 30,8% * 9,2% * 3,3% * 7,1% * -2,4% 4,3% 4,2% 12,3% -8,3% 5,8% 4,8% -7,2% -32,3% 1,9% 33,3% Natural_Gas 22% 31% 28% 12,5% 9,2% 2,2% 4,8% -2,3% 3,3% 3,5% 8,8% -8,4% 4,7% 4,3% 6,9% 5,1% -9,5% 33,8% 1,2% Agricolture 26% 17% 20,7% 7,7% 0,5% -2,0% * -2,5% 0,9% 2,8% -11,9% -4,4% 5,4% 5,2% -0,6% -16,1% 10,7% 20,7% 1,2% Bond BGOV_ITA_BTP 26% -0,9% -0,7% 0,7% 0,9% 0,4% 0,8% 0,3% 2,0% 1,1% 0,9% 0,5% 0,7% -21,1% 18,0% 12,0% BGOV_GERM_BUND -2,1% -0,8% 0,2% -0,1% 0,0% 0,4% 0,2% 1,0% -0,7% 0,7% 0,4% -4,8% -15,9% 34,7% 5,3% 1,6% BGOV_UK_GILT -20% -3,9% * -0,9% 0,2% -0,6% * 0,3% 0,8% -0,1% 2,5% 1,7% 1,4% 0,9% 3,2% 44,4% -135,3% 9,8% BGOV_USA_Treasury 22% -2,6% -0,3% 0,1% 0,1% 0,1% 0,2% 0,3% 0,9% 0,5% 0,4% 0,5% -16,1% -103,7% -16,0% 27,7% 15,4% BGOV_Emerg_Mrkt 37% 16% 33% -0,8% 0,3% * 0,7% * 1,2% * -0,3% 0,5% 1,3% 2,4% -0,9% 1,1% 1,5% 12,4% 3,1% 17,8% 20,2% 53,9% BOND_Corp_Europa 29% -0,3% -0,2% 0,2% 0,0% -0,1% 0,3% 0,3% 0,9% -0,6% 0,4% 0,4% -14,8% -22,5% -7,3% 6,5% 1,1% 46,1% BOND_Corp_Usa 24% -3,4% -1,1% * 0,2% 0,2% -0,1% 0,4% 0,5% 2,1% -1,4% 1,0% 1,3% 14,4% 15,1% 30,0% 6,3% 4,3% 35,3% BOND_Corp_Emerg 7% 31% -1,2% -0,9% 0,1% * 0,2% -0,4% 0,3% 0,1% 1,6% -0,9% 1,4% 1,2% 5,3% -24,4% 19,3% 39,8% 4,8% BOND_High_Yeld_GL 10% 31% 13% 0,5% * -0,5% 0,3% 0,3% -0,4% 0,3% 0,5% 1,5% -1,3% 0,8% 0,9% -28,6% -12,0% -51,4% 39,2% -13,1% 34,7% © MarkeTiming Research (ALL RIGHTS REDERVED) MarkeTiming Selection for the week of 7/6/2021 Stocks FTSE_MIB_(ITALY) Stable and aligned UpTrend about 3,8% in weekly progression. Bullish resistence over 25570. Reducing Volatility stance in a range of 1,6% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from 12% to -1%. CAC_40_(FRANCE) Stable and aligned UpTrend about 2% in weekly progression. Bearish suppot under 6441. Reducing Volatility stance in a range of 1,2% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from 12% to -6%. DAX_(GERMANY) Stable and aligned UpTrend about 1,9% in weekly progression. Bullish resistence over 15705. Increasing Volatility stance in a range of 1,8% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from 10% to -1%. FTSE_100_(UK) Unstable DownTrend about -0,8% in weekly mitigation. Take a Short Position with a Tactical Adjustment on portfolio composition from 7% to -1%. Dow_ Jones_Ind_Av_(USA) Unstable DownTrend about 0% in weekly mitigation. Take a Short Position with a Tactical Adjustment on portfolio composition from 10% to -1%. Nasdaq_100_(USA) Stable and aligned UpTrend about 0,3% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from 6% to -1%. Nikkei_225_(JAPAN) Unstable DownTrend about -1,4% in weekly progression. Bullish resistence over 29157. Increasing Volatility stance in a range of -2% (risk weight). Hang_Seng_(HONG KONG) Stable UpTrend Take a Long Position with a Tactical Adjustment on portfolio composition from 0% to 4%. Shanghai_Comp_(CHINA) Stable and aligned UpTrend Take a Long Position with a Tactical Adjustment on portfolio composition from 10% to 0%. BSE_Sensex_(INDIA) Stable and aligned UpTrend about 5,8% in weekly progression. Bearish suppot under 51179. Increasing Volatility stance in a range of 2,3% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 14% to 0%. RTSI_(RUSSIA) Stable and aligned UpTrend about 4,4% in weekly progression. Bullish resistence over 1652. Increasing Volatility stance in a range of 3,4% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from 21% to -6%. Ibovespa_(BRAZIL) Stable and aligned UpTrend about 10,9% in weekly progression. Bullish resistence over 20910. Increasing Volatility stance in a range of 7,8% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 10% to 14%. Currency & Comodity EUR/USD Stable and aligned UpTrend Take a Short Position with a Tactical Adjustment on portfolio composition from 5% to -3%. Gold Stable UpTrend Take a Short Position with a Tactical Adjustment on portfolio composition from 38% to -22%. Crude_Oil_WTI Stable and aligned UpTrend about 7% in weekly progression. Bullish resistence over 69. Increasing Volatility stance in a range of 4,8% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from 46% to -3%. Natural_Gas Stable and aligned UpTrend about 4,7% in weekly progression. Bullish resistence over 3. Increasing Volatility stance in a range of 4,3% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 24% to 14%. BOND_Corp_Emerg Unstable DownTrend about -2% in weekly mitigation. Take a Long Position with a Tactical Adjustment on portfolio composition from 0% to 26%. Bond BGOV_ITA_BTP Unstable UpTrend about 0,8% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from 0% to 26%. BGOV_GERM_BUND Stable and aligned DownTrend about 0% in weekly mitigation. Take a Long Position with a Tactical Adjustment on portfolio composition from -15% to 15%. BGOV_UK_GILT Stable and aligned DownTrend about -0,6% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from 0% to -19%. BGOV_USA_Treasury Unstable UpTrend about 0% in weekly progression. BGOV_Emerg_Mrkt Unstable UpTrend about 1,2% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from 4% to 14%. BOND_Corp_Europa Stable and aligned DownTrend about 0% in weekly mitigation. Take a Long Position with a Tactical Adjustment on portfolio composition from -5% to 5%. BOND_Corp_Usa Unstable UpTrend about 0,2% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from -28% to 28%. BOND_High_Yeld_GL Unstable UpTrend about 0,2% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from -21% to 25%. Agricolture Unstable UpTrend about 0,3% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from -18% to 28%. © MarkeTiming Research (ALL RIGHTS REDERVED) MarkeTiming Selection for the week of 31/5/2021 This Report is a rappresentative study of markets stance and does not constitute an investment advisory service. MARKET SELECTION weekly outlook TREND STABILITY PRIMARY TREND trend evolution VOLATILITY STANCE range evolution VOLATILITY DINAMIC volatility evolution TIMING RESISTENCE SUPPORT POWER Stability Trend Dynamic Timing Power LONG TERM MEDIUM TERM SHORT TERM 14/mag 21/mag 28/mag 14/mag 21/mag 28/mag 14/mag 21/mag 28/mag 28/mag 28/mag 28/mag Stocks FTSE_MIB_(ITALY) 11% 15% 12,8% 4,2% 0,9% 4,3% 0,6% 0,8% 0,8% 5,2% 3,7% 3,4% 2,0% 11,7% 25,8% -26,3% 11,2% CAC_40_(FRANCE) 13% 12% 42% 15,1% 6,5% 0,9% 3,4% 0,0% 0,0% 1,5% 5,4% -3,9% -3,5% * 1,8% 19,1% * 12,9% -21,5% 87,0% * DAX_(GERMANY) 11% -9% 11,9% 5,2% 0,9% 2,5% 0,1% 0,1% 0,5% 4,9% -3,9% 3,7% 1,4% 10,2% 20,4% -0,1% -19,6% * FTSE_100_(UK) 7% 8,7% 3,5% 0,1% * 0,8% -1,2% -0,4% 0,1% * 4,8% -4,8% -2,9% 1,0% * -8,9% -78,3% * -23,9% Dow_ Jones_Ind_Av_(USA) 10% 12,1% 4,9% 0,4% 1,9% -1,0% -0,5% * 0,8% 4,7% -4,5% -2,7% 1,1% -0,6% -23,7% -9,0% 2,5% Nasdaq_100_(USA) 7% 8,2% 2,0% 1,5% -1,3% * -2,3% 0,0% 2,1% -7,3% * -5,1% 4,3% * 1,9% -0,9% -6,2% 18,8% * Nikkei_225_(JAPAN) 23% 6,4% -2,0% * 0,2% 1,2% -4,3% * 0,8% 2,9% 8,0% * -8,0% * 3,0% 3,4% -9,2% * -38,1% -0,9% 11,3% 40,7% Hang_Seng_(HONG KONG) 15% 26% 6,2% -0,4% 1,4% 1,6% -2,2% 1,5% 2,5% 5,9% -4,2% 2,1% 4,2% -1,2% -5,1% -17,0% 31,1% 46,5% Shanghai_Comp_(CHINA) 5% 15% 20% 33% 4,1% * 1,9% 2,0% 4,5% 2,1% * -0,1% 3,3% * 6,9% 3,1% -1,4% 4,4% * 16,5% 51,3% * -32,4% * 40,9% 11,1% 47,4% BSE_Sensex_(INDIA) 10% 19% 11,3% 2,5% 2,6% * 5,4% -1,0% 3,7% * 1,7% 7,0% -2,3% 3,3% 2,1% -9,1% -53,1% 14,9% -0,4% RTSI_(RUSSIA) 15% 28% 14% 16,2% * 7,1% * 1,7% 8,0% * -1,8% 1,3% 2,2% 7,9% -3,9% 2,7% 3,1% -0,5% 17,6% -11,5% 28,0% Ibovespa_(BRAZIL) 11% 11% 18% 11,2% 6,2% 0,2% 3,3% -0,9% 1,6% 1,0% 5,4% 4,5% * 2,2% 2,1% 15,8% 31,6% -15,9% -1,6% -1,0% 34,0% Currency & Comodity EUR/USD 6% 2,0% * 1,5% * 0,5% 1,4% -0,2% 0,3% 0,1% 2,3% -1,1% 1,0% 1,1% -3,4% -15,2% -9,4% -3,1% Gold 16% 61% 26% 2,6% 6,0% 2,3% * 7,8% * 0,6% 2,0% 1,3% 7,9% 2,0% 2,6% 2,1% 3,7% 9,2% -25,2% 7,1% 1,5% Crude_Oil_WTI 54% 39% 66% 28,2% * 7,3% * 1,3% 5,0% 0,9% -2,4% 4,3% 9,0% -5,4% -8,3% 5,8% -7,2% -9,8% -32,3% 9,3% 48,2% Natural_Gas 25% -35% 34% 9,8% 6,9% 0,2% 1,9% 0,3% -2,3% 3,3% 8,9% 4,5% -8,4% 4,7% -2,0% 6,3% 5,1% -9,5% 0,3% 30,0% Agricolture 39% 17,7% 4,9% -3,6% * -0,2% * -3,0% -2,5% 0,9% -11,8% -6,4% -4,4% 5,4% -9,8% -15,9% -16,1% 10,7% 7,5% Bond BGOV_ITA_BTP 20% -1,3% -1,2% 0,3% * 0,1% -0,7% 0,4% 0,8% 1,9% -1,1% 1,1% 0,9% -9,4% -7,2% -21,1% 18,0% 31,4% BGOV_GERM_BUND -22% -8% 14% 23% -2,3% -1,1% 0,0% -0,2% -0,7% 0,0% 0,4% -1,3% -0,8% -0,7% 0,7% -9,9% -38,4% -15,9% 34,7% 2,4% 33,7% BGOV_UK_GILT -54% -3,8% * -1,1% 0,3% 0,0% -1,6% 0,3% 0,8% -3,3% -2,0% 1,7% 1,4% 2,6% 4,1% 44,4% -135,3% BGOV_USA_Treasury -20% -2,7% -0,4% * 0,2% 0,0% -0,5% 0,1% 0,2% 1,1% -0,8% 0,5% 0,4% -29,9% -16,2% -103,7% -16,0% 0,2% -32,1% BGOV_Emerg_Mrkt -18% 26% 25% -1,9% -0,8% -0,1% 0,7% * -0,4% -0,3% 0,5% 1,4% -1,0% -0,9% 1,1% 8,4% -8,7% 3,1% 17,8% 40,0% BOND_Corp_Europa -6% -0,5% -0,4% 0,0% -0,2% -0,5% -0,1% 0,3% -0,9% -0,7% -0,6% 0,4% -17,3% -33,7% -22,5% -7,3% -2,8% BOND_Corp_Usa -34% -23% 12% -3,7% -1,4% * -0,1% -0,6% -0,5% -0,1% 0,4% -2,8% -1,0% -1,4% 1,0% 5,8% 5,7% 15,1% 30,0% -3,1% BOND_Corp_Emerg -20% -24% -1,6% -1,2% -0,4% * -0,6% * 0,1% -0,4% 0,3% -2,1% 0,9% -0,9% 1,4% -8,7% -7,4% -24,4% 19,3% 4,5% BOND_High_Yeld_GL -19% -20% -11% 0,3% * -0,7% 0,0% -0,5% -0,1% -0,4% 0,3% -1,7% -0,9% -1,3% 0,8% -35,0% -70,3% -12,0% -51,4% -17,7% © MarkeTiming Research (ALL RIGHTS REDERVED) MarkeTiming Selection for the week of 31/5/2021 Stocks FTSE_MIB_(ITALY) Stable and aligned UpTrend about 4,2% in weekly progression. Bearish suppot under 24682. Increasing Volatility stance in a range of 2% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 11% to 1%. CAC_40_(FRANCE) Stable and aligned UpTrend about 3,4% in weekly progression. Bullish resistence over 6493. Increasing Volatility stance in a range of 1,8% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 12% to 0%. DAX_(GERMANY) Stable and aligned UpTrend about 2,5% in weekly progression. Bearish suppot under 15350. Increasing Volatility stance in a range of 1,4% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from 13% to -2%. FTSE_100_(UK) Stable and aligned UpTrend about 0,7% in weekly progression. Bearish suppot under 6998. Reducing Volatility stance in a range of 0,9% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from 6% to -3%. Dow_ Jones_Ind_Av_(USA) Stable and aligned UpTrend about 1,9% in weekly progression. Bullish resistence over 34631. Reducing Volatility stance in a range of 1% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 0% to 10%. Nasdaq_100_(USA) Unstable DownTrend about -1,2% in weekly mitigation. Take a Long Position with a Tactical Adjustment on portfolio composition from -14% to 10%. Nikkei_225_(JAPAN) Unstable UpTrend about 1,1% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from -8% to 8%. Hang_Seng_(HONG KONG) Unstable UpTrend about 1,6% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from -8% to 8%. Shanghai_Comp_(CHINA) Stable UpTrend about 4,4% in weekly progression. Bullish resistence over 3626. Increasing Volatility stance in a range of 4,3% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 3% to 8%. BSE_Sensex_(INDIA) Stable UpTrend about 5,4% in weekly progression. Bullish resistence over 51529. Increasing Volatility stance in a range of 2% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from 14% to 0%. RTSI_(RUSSIA) Stable and aligned UpTrend about 7,9% in weekly progression. Bullish resistence over 1607. Increasing Volatility stance in a range of 3% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 15% to 5%. Ibovespa_(BRAZIL) Stable and aligned UpTrend about 3,2% in weekly progression. Bullish resistence over 19186. Increasing Volatility stance in a range of 2,1% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from 15% to -4%. Currency & Comodity EUR/USD Stable and aligned UpTrend about 1,4% in weekly progression. Bearish suppot under 1. Increasing Volatility stance in a range of 1% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from 11% to -5%. Gold Stable UpTrend about 7,8% in weekly progression. Bearish suppot under 1873. Increasing Volatility stance in a range of 2,1% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 36% to 1%. Crude_Oil_WTI Stable and aligned UpTrend about 4,9% in weekly progression. Bullish resistence over 67. Increasing Volatility stance in a range of 5,8% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 0% to 46%. Natural_Gas Stable and aligned UpTrend about 1,9% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from 57% to -45%. BOND_Corp_Emerg Unstable DownTrend about -0,2% in weekly mitigation. Bond BGOV_ITA_BTP Unstable UpTrend about 0,1% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from -18% to 18%. BGOV_GERM_BUND Stable and aligned DownTrend about -0,2% in weekly mitigation. Take a Long Position with a Tactical Adjustment on portfolio composition from -16% to 1%. BGOV_UK_GILT Take a Long Position with a Tactical Adjustment on portfolio composition from -26% to 26%. BGOV_USA_Treasury Unstable UpTrend about 0% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from -11% to 11%. BGOV_Emerg_Mrkt Unstable UpTrend about 0,6% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from -8% to 8%. BOND_Corp_Europa Stable and aligned DownTrend about -0,1% in weekly mitigation. Take a Short Position with a Tactical Adjustment on portfolio composition from -4% to -1%. BOND_Corp_Usa Stable and aligned DownTrend about -0,5% in weekly mitigation. Take a Short Position with a Tactical Adjustment on portfolio composition from -22% to -6%. BOND_High_Yeld_GL Stable and aligned DownTrend about -0,5% in weekly mitigation. Take a Short Position with a Tactical Adjustment on portfolio composition from -8% to -17%. Agricolture Unstable DownTrend about -0,4% in weekly mitigation. Take a Short Position with a Tactical Adjustment on portfolio composition from 0% to -18%. © MarkeTiming Research (ALL RIGHTS REDERVED) MarkeTiming Selection for the week of 24/5/2021 This Report is a rappresentative study of markets stance and does not constitute an investment advisory service. MARKET SELECTION weekly outlook TREND STABILITY PRIMARY TREND trend evolution VOLATILITY STANCE range evolution VOLATILITY DINAMIC volatility evolution TIMING RESISTENCE SUPPORT POWER Stability Trend Dynamic Timing Power LONG TERM MEDIUM TERM SHORT TERM 07/mag 14/mag 21/mag 07/mag 14/mag 21/mag 07/mag 14/mag 21/mag 21/mag 21/mag 21/mag Stocks FTSE_MIB_(ITALY) 14% 9% -17% 12,6% 4,1% 0,8% 2,4% 2,0% 0,6% 0,8% 4,9% 2,3% 3,7% 3,4% -0,4% 10,7% 25,8% -26,3% -0,6% CAC_40_(FRANCE) 17% 7% -14% 30% 14,5% 6,0% 0,3% 2,1% 1,9% 0,0% 0,0% 4,1% 2,2% -3,9% -3,5% * 1,3% 16,2% 12,9% -21,5% -13,7% 73,9% DAX_(GERMANY) 14% 26% 11,5% 5,0% 0,5% 1,0% 1,7% 0,1% 0,1% 4,7% 2,9% -3,9% 3,7% 4,4% 15,1% 20,4% -0,1% -11,8% 65,3% FTSE_100_(UK) 10% 4% -15% 8,7% 3,4% 0,0% 1,1% 2,3% -1,2% -0,4% 4,8% 3,1% -4,8% -2,9% -8,2% 42,3% * -78,3% * -23,9% -12,2% Dow_ Jones_Ind_Av_(USA) 11,7% 4,6% -0,1% 0,6% 2,7% -1,0% -0,5% * 4,7% 2,6% -4,5% -2,7% 2,2% 16,1% -23,7% -9,0% -4,8% Nasdaq_100_(USA) -14% 12% 6,0% -0,5% -1,6% -3,9% * -1,0% * -2,3% 0,0% -8,1% * -4,0% * -5,1% 4,3% * -6,2% -6,8% -6,2% 18,8% * Nikkei_225_(JAPAN) -9% 5,1% -3,6% * -1,8% * -2,4% 1,9% -4,3% * 0,8% -8,0% 2,4% -8,0% * 3,0% -13,0% 7,2% -38,1% -0,9% -7,8% Hang_Seng_(HONG KONG) -8% -11% 4,8% -2,2% -0,3% -2,3% -0,2% -2,2% 1,5% -6,0% -2,4% -4,2% 2,1% -16,8% * -26,1% * -5,1% -17,0% Shanghai_Comp_(CHINA) 3% -21% 2,6% * 0,3% 1,2% 0,4% -0,8% 2,1% * -0,1% 4,2% -1,9% 3,1% -1,4% -6,7% -14,9% 51,3% * -32,4% * 10,0% BSE_Sensex_(INDIA) 9% 20% 35% 9,7% 0,5% 1,3% 5,6% * 0,9% -1,0% 3,7% * 5,2% 2,8% -2,3% 3,3% -10,6% 7,3% -53,1% 14,9% 11,4% 60,5% RTSI_(RUSSIA) 18% 14% 14,9% * 5,9% 1,4% * 3,8% 6,2% * -1,8% 1,3% 6,5% 6,1% * -3,9% 2,7% -12,2% -20,8% 17,6% -11,5% -1,2% Ibovespa_(BRAZIL) 16% 15% -10% 9% 11,9% 6,6% * 1,2% 4,0% 1,7% -0,9% 1,6% 7,4% * 3,8% 4,5% * 2,2% 24,6% * 20,6% 31,6% -15,9% 18,3% Currency & Comodity EUR/USD 11% 1,9% 1,4% * 0,6% 0,7% * 1,2% -0,2% 0,3% 2,1% 1,5% -1,1% 1,0% -7,9% 10,1% -15,2% -9,4% Gold 26% 48% -44% 1,3% * 4,9% 2,7% * 5,9% 3,7% 0,6% 2,0% 7,5% 4,3% 2,0% 2,6% -4,0% 14,3% 9,2% -25,2% -0,4% Crude_Oil_WTI -56% -35% 26,2% * 5,7% -0,3% 2,8% 2,1% 0,9% -2,4% 9,7% 5,8% -5,4% -8,3% -1,7% 23,0% -9,8% -32,3% -5,4% Natural_Gas 63% 52% 11,4% 8,7% * 1,6% 6,4% * 0,7% 0,3% -2,3% 12,5% 3,3% 4,5% -8,4% 1,7% -4,8% 6,3% 5,1% Agricolture -65% 21,8% 8,2% -1,8% * 0,9% 4,7% -3,0% -2,5% 9,3% 4,7% -6,4% -4,4% -6,6% -40,6% -15,9% -16,1% -10,0% Bond BGOV_ITA_BTP -14% -23% -10% -2,2% -2,2% -0,7% -1,2% -0,4% -0,7% 0,4% -2,2% -0,8% -1,1% 1,1% -12,5% -11,6% -7,2% -21,1% 1,6% BGOV_GERM_BUND -13% -20% -2,8% -1,7% -0,5% -1,0% 0,1% -0,7% 0,0% -1,5% -0,4% -0,8% -0,7% -23,3% -16,7% -38,4% -15,9% -5,7% BGOV_UK_GILT -21% -33% 21% -4,9% * -2,3% * -0,7% -1,7% * 0,5% -1,6% 0,3% -3,3% 1,7% -2,0% 1,7% 12,0% 7,3% 4,1% 44,4% 0,8% BGOV_USA_Treasury -11% -48% -3,2% -0,9% -0,2% -0,3% 0,2% -0,5% 0,1% -1,1% 0,6% -0,8% 0,5% -20,3% -27,6% -16,2% -103,7% -1,3% BGOV_Emerg_Mrkt -9% -2,0% -1,1% -0,2% * 0,3% * 0,8% -0,4% -0,3% 1,6% 1,3% -1,0% -0,9% 0,5% 8,2% -8,7% 3,1% -3,2% BOND_Corp_Europa -4% -10% -42% -0,7% -0,6% * -0,3% -0,6% 0,1% -0,5% -0,1% -1,0% 0,4% -0,7% -0,6% -7,9% -9,0% -33,7% -22,5% -14,1% -33,3% BOND_Corp_Usa -20% -24% 8% -4,4% -2,3% -0,8% * -1,2% -0,3% -0,5% -0,1% -2,8% -0,9% -1,0% -1,4% 6,3% -79,2% 5,7% 15,1% 8,7% BOND_Corp_Emerg -9% -11% -1,6% -1,3% -0,5% -0,6% -0,7% 0,1% -0,4% -1,9% -1,1% 0,9% -0,9% 3,9% -23,0% -7,4% -24,4% -4,7% BOND_High_Yeld_GL -51% 0,0% * -1,0% -0,4% -0,7% -0,3% -0,1% -0,4% -1,7% 0,8% -0,9% -1,3% -17,8% 13,5% -70,3% -12,0% -14,9% -42,9% © MarkeTiming Research (ALL RIGHTS REDERVED) MarkeTiming Selection for the week of 24/5/2021 Stocks FTSE_MIB_(ITALY) Stable and aligned UpTrend about 2,4% in weekly progression. Bullish resistence over 25113. Increasing Volatility stance in a range of 3,4% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 7% to 4%. CAC_40_(FRANCE) Stable and aligned UpTrend about 2% in weekly progression. Bearish suppot under 6192. Increasing Volatility stance in a range of -3,4% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from 12% to 0%. DAX_(GERMANY) Stable and aligned UpTrend about 1% in weekly progression. Bearish suppot under 14961. Increasing Volatility stance in a range of 3,7% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from -1% to 7%. FTSE_100_(UK) Stable and aligned UpTrend Take a Long Position with a Tactical Adjustment on portfolio composition from 6% to 0%. Dow_ Jones_Ind_Av_(USA) Stable and aligned UpTrend Take a Short Position with a Tactical Adjustment on portfolio composition from 9% to -9%. Nasdaq_100_(USA) Unstable DownTrend about -3,9% in weekly progression. Bearish suppot under 12994. Increasing Volatility stance in a range of 4,3% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from -17% to 3%. Nikkei_225_(JAPAN) Unstable DownTrend about -2,4% in weekly mitigation. Take a Long Position with a Tactical Adjustment on portfolio composition from -20% to 12%. Hang_Seng_(HONG KONG) Unstable DownTrend about -2,2% in weekly mitigation. Take a Long Position with a Tactical Adjustment on portfolio composition from -13% to 5%. Shanghai_Comp_(CHINA) Stable UpTrend Take a Short Position with a Tactical Adjustment on portfolio composition from 7% to -1%. BSE_Sensex_(INDIA) Stable UpTrend about 5,5% in weekly progression. Bullish resistence over 50591. Increasing Volatility stance in a range of 3,3% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 0% to 15%. RTSI_(RUSSIA) Stable and aligned UpTrend about 3,8% in weekly progression. Bullish resistence over 1581. Increasing Volatility stance in a range of 2,6% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from 16% to -1%. Ibovespa_(BRAZIL) Stable and aligned UpTrend about 4% in weekly progression. Bullish resistence over 19255. Increasing Volatility stance in a range of 2,2% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from 16% to -1%. Currency & Comodity EUR/USD Stable and aligned UpTrend about 0,7% in weekly progression. Bullish resistence over 1. Increasing Volatility stance in a range of 0,9% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 2% to 8%. Gold Stable UpTrend about 5,8% in weekly progression. Bullish resistence over 1891. Increasing Volatility stance in a range of 2,5% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 0% to 36%. Crude_Oil_WTI Stable and aligned UpTrend Take a Short Position with a Tactical Adjustment on portfolio composition from 35% to -35%. Natural_Gas Stable and aligned UpTrend Take a Long Position with a Tactical Adjustment on portfolio composition from 35% to 21%. BOND_Corp_Emerg Stable and aligned UpTrend Take a Short Position with a Tactical Adjustment on portfolio composition from 44% to -44%. Bond BGOV_ITA_BTP Stable DownTrend about -1,1% in weekly mitigation. Take a Long Position with a Tactical Adjustment on portfolio composition from -22% to 4%. BGOV_GERM_BUND Stable and aligned DownTrend about -0,9% in weekly mitigation. Take a Long Position with a Tactical Adjustment on portfolio composition from -16% to 0%. BGOV_UK_GILT Stable and aligned DownTrend about -1,6% in weekly mitigation. Take a Short Position with a Tactical Adjustment on portfolio composition from -26% to 0%. BGOV_USA_Treasury Stable and aligned DownTrend about -0,3% in weekly mitigation. Take a Long Position with a Tactical Adjustment on portfolio composition from -14% to 3%. BGOV_Emerg_Mrkt Unstable UpTrend Take a Short Position with a Tactical Adjustment on portfolio composition from 0% to -8%. BOND_Corp_Europa Stable and aligned DownTrend about -0,6% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from -3% to 0%. BOND_Corp_Usa Stable and aligned DownTrend about -1,2% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from -21% to 0%. BOND_High_Yeld_GL Stable and aligned DownTrend about -0,6% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from -7% to -1%. Agricolture Unstable DownTrend about -0,7% in weekly progression. © MarkeTiming Research (ALL RIGHTS REDERVED) MarkeTiming Selection for the week of 17/5/2021 This Report is a rappresentative study of markets stance and does not constitute an investment advisory service. MARKET SELECTION weekly outlook TREND STABILITY PRIMARY TREND trend evolution VOLATILITY STANCE range evolution VOLATILITY DINAMIC volatility evolution TIMING RESISTENCE SUPPORT POWER Stability Trend Dynamic Timing Power LONG TERM MEDIUM TERM SHORT TERM 30/apr 07/mag 14/mag 30/apr 07/mag 14/mag 30/apr 07/mag 14/mag 14/mag 14/mag 14/mag Stocks FTSE_MIB_(ITALY) 14% 0% 21% 12,2% 3,6% 0,2% 0,1% -1,0% 2,0% 0,6% 3,7% -1,9% 2,3% 3,7% -12,7% -43,2% 10,7% 25,8% 15,7% 90,3% CAC_40_(FRANCE) 18% 6% 22% 14,5% 6,1% 0,1% 1,6% 0,2% 1,9% 0,0% 3,9% 1,8% 2,2% -3,9% -10,7% -26,9% 16,2% 12,9% 14,3% 95,7% DAX_(GERMANY) -1% 22% 11,1% 4,8% -0,2% -0,3% -0,9% 1,7% 0,1% -4,5% -1,8% 2,9% -3,9% -7,6% -77,5% * 15,1% 20,4% 20,3% 87,6% FTSE_100_(UK) 12% 1% -31% 9,3% 3,8% 0,4% 0,3% 0,5% 2,3% -1,2% 4,8% 1,5% 3,1% -4,8% -16,3% * -6,1% 42,3% * -78,3% * -3,7% Dow_ Jones_Ind_Av_(USA) 17% 3% 12,7% 5,5% 0,4% 0,7% -0,5% 2,7% -1,0% 4,5% -1,2% 2,6% -4,5% -3,6% 17,5% 16,1% -23,7% 1,9% Nasdaq_100_(USA) -17% 5,9% -0,8% -3,1% * -4,5% -0,7% -1,0% * -2,3% -8,0% -1,7% -4,0% * -5,1% -12,9% -54,0% -6,8% -6,2% -2,6% Nikkei_225_(JAPAN) -21% -15% -14% 7,1% -2,4% -1,5% -5,4% * -0,7% 1,9% -4,3% * -8,3% * -1,7% 2,4% -8,0% * -10,3% -5,6% 7,2% -38,1% -14,1% -53,3% Hang_Seng_(HONG KONG) -13% -8% 4,0% -3,2% * -1,8% -3,4% -1,4% -0,2% -2,2% -6,0% -2,6% -2,4% -4,2% -9,6% -30,5% -26,1% * -5,1% 1,9% -42,8% Shanghai_Comp_(CHINA) 7% 20% 13% 0,6% * -1,9% -0,6% 1,9% -0,8% -0,8% 2,1% * 3,2% -2,3% -1,9% 3,1% 4,7% -39,4% -14,9% 51,3% * 7,4% 59,4% BSE_Sensex_(INDIA) -1% -21% 8,6% -1,1% 0,7% -0,2% 1,9% * 0,9% -1,0% 6,5% 4,5% * 2,8% -2,3% -15,3% -13,7% 7,3% -53,1% -6,2% RTSI_(RUSSIA) 20% 13% 14,9% * 5,7% 2,1% 3,5% -1,8% * 6,2% * -1,8% 8,7% -3,1% * 6,1% * -3,9% -9,2% -39,0% -20,8% 17,6% 2,8% Ibovespa_(BRAZIL) 19% 15% 13% 12,1% 6,4% * 2,3% * 3,9% * 1,7% 1,7% -0,9% 8,8% * 3,5% 3,8% 4,5% * 20,3% * 29,1% * 20,6% 31,6% -4,2% Currency & Comodity EUR/USD 2% -49% -23% 1,4% 0,8% * 0,4% * 1,4% * -0,6% 1,2% -0,2% 2,0% -1,1% 1,5% -1,1% 0,7% -25,4% 10,1% -15,2% -1,3% Gold 17% -1,0% * 2,8% 1,9% 3,8% -0,5% 3,7% 0,6% 5,1% -2,0% 4,3% 2,0% -1,0% -26,1% 14,3% 9,2% 0,9% Crude_Oil_WTI 36% 60% 29,0% * 8,0% 1,6% 3,6% 2,2% 2,1% 0,9% 9,5% 7,5% 5,8% -5,4% -1,6% 7,2% 23,0% -9,8% 3,4% Natural_Gas 19% 53% 10,5% 7,6% 2,2% 10,6% * 7,9% 0,7% 0,3% 12,3% 7,2% 3,3% 4,5% 15,2% 3,5% -4,8% 6,3% Agricolture 43% 47% -51% 28,6% 13,9% * 3,5% * 9,4% 1,9% 4,7% -3,0% 14,6% 5,0% 4,7% -6,4% 13,2% 20,4% -40,6% -15,9% Bond BGOV_ITA_BTP -14% -32% -1,8% -2,0% -0,7% -1,8% * -0,5% -0,4% -0,7% -2,2% -0,8% -0,8% -1,1% -14,3% -8,1% -11,6% -7,2% -5,2% BGOV_GERM_BUND -15% -18% -27% -33% -2,6% -1,6% -0,5% -1,0% -0,4% 0,1% -0,7% -1,4% -0,6% -0,4% -0,8% -21,7% -24,9% -16,7% -38,4% -10,6% -39,5% BGOV_UK_GILT -25% -28% -4,7% * -2,3% * -0,8% * -1,6% -0,9% 0,5% -1,6% -3,2% -1,3% 1,7% -2,0% 11,7% -23,9% 7,3% 4,1% -3,0% BGOV_USA_Treasury -15% -30% -3,4% -1,0% -0,3% -0,3% -0,2% 0,2% -0,5% -1,1% -0,6% 0,6% -0,8% -1,3% 9,7% -27,6% -16,2% -2,4% -42,9% BGOV_Emerg_Mrkt -1,5% -0,9% 0,3% * -0,3% * 0,2% 0,8% -0,4% -1,6% 0,8% 1,3% -1,0% -11,1% -18,5% 8,2% -8,7% -1,2% BOND_Corp_Europa -3% -24% -37% -0,4% -0,5% * -0,2% -0,5% -0,1% 0,1% -0,5% -0,8% -0,3% 0,4% -0,7% -6,4% 15,9% -9,0% -33,7% -11,8% -45,1% BOND_Corp_Usa -21% -22% -4,2% -1,9% -0,7% -1,3% -0,3% -0,3% -0,5% -2,0% 1,4% -0,9% -1,0% -6,4% 32,1% -79,2% 5,7% 6,5% BOND_Corp_Emerg -8% -1,3% -0,8% -0,3% -0,9% 0,3% -0,7% 0,1% -1,6% 1,2% -1,1% 0,9% 12,8% 76,1% -23,0% -7,4% -3,2% BOND_High_Yeld_GL -49% 0,4% * -0,7% -0,1% -0,7% 0,0% -0,3% -0,1% -1,5% 0,6% 0,8% -0,9% -23,1% 0,6% 13,5% -70,3% -16,4% © MarkeTiming Research (ALL RIGHTS REDERVED) MarkeTiming Selection for the week of 17/5/2021 Stocks FTSE_MIB_(ITALY) Stable and aligned UpTrend about 0% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from 0% to 7%. CAC_40_(FRANCE) Stable and aligned UpTrend Take a Short Position with a Tactical Adjustment on portfolio composition from 18% to -6%. DAX_(GERMANY) Unstable DownTrend about -0,2% in weekly mitigation. Take a Short Position with a Tactical Adjustment on portfolio composition from 0% to -1%. FTSE_100_(UK) Stable and aligned UpTrend Take a Short Position with a Tactical Adjustment on portfolio composition from 12% to -6%. Dow_ Jones_Ind_Av_(USA) Stable and aligned UpTrend Take a Short Position with a Tactical Adjustment on portfolio composition from 16% to -6%. Nasdaq_100_(USA) Unstable DownTrend about -4,4% in weekly progression. Bullish resistence over 13648. Increasing Volatility stance in a range of -5% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from 0% to -17%. Nikkei_225_(JAPAN) Unstable DownTrend about -5,3% in weekly progression. Bullish resistence over 29685. Increasing Volatility stance in a range of -7,9% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from 0% to -20%. Hang_Seng_(HONG KONG) Unstable DownTrend about -3,4% in weekly progression. Bullish resistence over 28881. Increasing Volatility stance in a range of -4,1% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from 0% to -13%. Shanghai_Comp_(CHINA) Unstable UpTrend about 1,8% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from 0% to 7%. BSE_Sensex_(INDIA) Unstable DownTrend about -0,2% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from 0% to 0%. RTSI_(RUSSIA) Stable and aligned UpTrend Take a Short Position with a Tactical Adjustment on portfolio composition from 31% to -14%. Ibovespa_(BRAZIL) Stable and aligned UpTrend Take a Short Position with a Tactical Adjustment on portfolio composition from 21% to -4%. Currency & Comodity EUR/USD Stable and aligned UpTrend Take a Long Position with a Tactical Adjustment on portfolio composition from 0% to 1%. Gold Unstable UpTrend about 3,7% in weekly progression. Bearish suppot under 1808. Increasing Volatility stance in a range of 2% (risk weight). Crude_Oil_WTI Stable and aligned UpTrend about 3,6% in weekly progression. Bearish suppot under 63. Increasing Volatility stance in a range of -5,3% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from 36% to 0%. Natural_Gas Stable and aligned UpTrend about 10,5% in weekly progression. Bearish suppot under 2. Increasing Volatility stance in a range of 4,4% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from 37% to -1%. BOND_Corp_Emerg Stable and aligned UpTrend Take a Long Position with a Tactical Adjustment on portfolio composition from 44% to 0%. Bond BGOV_ITA_BTP Stable DownTrend about -1,8% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from -22% to 0%. BGOV_GERM_BUND Stable and aligned DownTrend about -1% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from -19% to 3%. BGOV_UK_GILT Stable and aligned DownTrend about -1,5% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from -45% to -3%. BGOV_USA_Treasury Stable and aligned DownTrend about -0,2% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from 8% to -11%. BGOV_Emerg_Mrkt Stable and aligned DownTrend about -0,2% in weekly progression. BOND_Corp_Europa Stable DownTrend about -0,5% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from -3% to 0%. BOND_Corp_Usa Stable and aligned DownTrend about -1,2% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from -21% to -10%. BOND_High_Yeld_GL Stable and aligned DownTrend about -0,8% in weekly mitigation. Take a Long Position with a Tactical Adjustment on portfolio composition from -24% to 8%. Agricolture Unstable DownTrend about -0,6% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from -11% to 11%. © MarkeTiming Research (ALL RIGHTS REDERVED) MarkeTiming Selection for the week of 10/5/2021 This Report is a rappresentative study of markets stance and does not constitute an investment advisory service. MARKET SELECTION weekly outlook TREND STABILITY PRIMARY TREND trend evolution VOLATILITY STANCE range evolution VOLATILITY DINAMIC volatility evolution TIMING RESISTENCE SUPPORT POWER Stability Trend Dynamic Timing Power LONG TERM MEDIUM TERM SHORT TERM 23/apr 30/apr 07/mag 23/apr 30/apr 07/mag 23/apr 30/apr 07/mag 07/mag 07/mag 07/mag Stocks FTSE_MIB_(ITALY) 22% 12,3% 3,6% -0,2% 0,7% -1,4% -1,0% 2,0% 3,1% -3,1% -1,9% 2,3% -24,8% * -137,5% * -43,2% 10,7% 13,4% 55,0% CAC_40_(FRANCE) 24% 13% 10% 17% 15,7% * 7,2% * 0,8% 3,5% -0,5% 0,2% 1,9% 3,8% -2,6% 1,8% 2,2% -2,9% -130,1% -26,9% 16,2% 9,8% 41,9% DAX_(GERMANY) 10% 11,4% 5,0% -0,5% 1,1% -1,2% -0,9% 1,7% 3,5% -2,8% -1,8% 2,9% -3,9% -59,8% -77,5% * 15,1% 13,7% FTSE_100_(UK) 14% 12% 27% 19% 9,7% 4,0% 0,7% 3,1% -1,2% 0,5% 2,3% 4,1% -2,6% 1,5% 3,1% 3,6% -52,7% -6,1% 42,3% * 58,1% Dow_ Jones_Ind_Av_(USA) 21% 11% 10% 27% 13,6% 6,3% 0,8% 3,1% -0,4% -0,5% 2,7% 3,7% -1,5% -1,2% 2,6% 4,2% -23,6% 17,5% 16,1% 13,9% 69,0% Nasdaq_100_(USA) 14% 9,7% 2,4% -1,4% * -0,7% -0,6% -0,7% -1,0% * -4,8% * -2,2% -1,7% -4,0% * -16,6% -13,7% -54,0% -6,8% -3,0% 47,2% Nikkei_225_(JAPAN) 9,8% -0,3% -0,6% -1,4% * -2,2% * -0,7% 1,9% -3,9% -3,5% * -1,7% 2,4% 2,4% -1,2% -5,6% 7,2% 3,7% Hang_Seng_(HONG KONG) -17% 5,9% -1,7% * -0,8% -0,2% 0,2% -1,4% -0,2% -4,2% 2,7% -2,6% -2,4% -11,8% 18,7% -30,5% -26,1% * -7,6% Shanghai_Comp_(CHINA) 1,2% * -1,5% 0,2% -0,9% 1,4% -0,8% -0,8% -3,6% 2,3% -2,3% -1,9% -14,4% 58,3% * -39,4% -14,9% -2,7% BSE_Sensex_(INDIA) 8,6% -1,7% 0,3% -0,8% -2,0% 1,9% * 0,9% 6,5% -2,6% 4,5% * 2,8% -7,6% 0,8% -13,7% 7,3% 7,4% RTSI_(RUSSIA) 20% 42% -13% 13,9% 4,6% 2,0% 11,3% * 1,0% -1,8% * 6,2% * 11,1% * 4,4% * -3,1% * 6,1% * -3,5% -3,3% -39,0% -20,8% 4,3% Ibovespa_(BRAZIL) 21% 21% 13% 11,7% 5,9% 3,6% * 5,7% 1,5% * 1,7% 1,7% 9,8% 2,8% 3,5% 3,8% 5,0% * 1,7% 29,1% * 20,6% -3,9% Currency & Comodity EUR/USD 1% 11% 46% 0,9% 0,1% * 0,1% * 2,2% * 1,0% -0,6% 1,2% 2,5% 1,3% -1,1% 1,5% 5,5% 11,8% -25,4% 10,1% 0,1% 45,5% Gold 16% 54% -3,1% * 0,6% 1,1% 5,1% 0,0% -0,5% 3,7% 6,8% -1,9% -2,0% 4,3% 4,9% -22,3% -26,1% 14,3% 0,8% 53,8% Crude_Oil_WTI 36% 26% 30,4% * 9,3% 2,7% 9,3% -1,6% 2,2% 2,1% 12,6% -6,0% 7,5% 5,8% 14,3% -61,2% 7,2% 23,0% 8,8% Natural_Gas 21% 54% 11,2% 7,9% 4,9% 17,3% * 1,5% 7,9% 0,7% 16,6% 4,4% 7,2% 3,3% 19,3% 65,9% 3,5% -4,8% -1,6% Agricolture 42% 46% -46% 29,1% 14,4% * 6,0% * 14,7% 5,7% 1,9% 4,7% 17,0% 6,2% 5,0% 4,7% 28,7% 62,7% 20,4% -40,6% Bond BGOV_ITA_BTP -22% -23% -1,0% -1,4% -0,3% * -1,4% -0,2% -0,5% -0,4% -1,7% -0,7% -0,8% -0,8% -13,8% -28,1% -8,1% -11,6% BGOV_GERM_BUND -29% -10% -11% -2,1% -1,2% -0,2% -0,6% 0,0% -0,4% 0,1% -1,0% -0,4% -0,6% -0,4% -19,9% -7,7% -24,9% -16,7% BGOV_UK_GILT -46% -35% -4,0% * -1,6% * -0,1% 0,1% 0,4% -0,9% 0,5% 1,9% 1,5% -1,3% 1,7% 11,4% 59,5% -23,9% 7,3% 21,8% -55,6% BGOV_USA_Treasury 9% -19% -3,1% -0,8% 0,1% 0,5% * 0,2% -0,2% 0,2% 0,9% 0,4% -0,6% 0,6% 12,0% 15,2% 9,7% -27,6% BGOV_Emerg_Mrkt -1,9% -1,4% 0,0% 0,3% -0,8% 0,2% 0,8% 1,6% -1,0% 0,8% 1,3% -3,4% -28,8% -18,5% 8,2% 2,2% BOND_Corp_Europa -4% -0,1% -0,3% -0,1% -0,1% -0,1% -0,1% 0,1% -0,5% -0,3% -0,3% 0,4% 1,3% -6,3% 15,9% -9,0% 2,3% BOND_Corp_Usa -22% -54% -3,2% -1,0% 0,1% * -1,3% -0,2% -0,3% -0,3% -2,4% -1,5% 1,4% -0,9% -6,0% -20,7% 32,1% -79,2% -0,7% BOND_Corp_Emerg -24% -16% -13% -0,6% -0,2% * 0,1% -1,5% * -0,6% 0,3% -0,7% -1,8% -0,9% 1,2% -1,1% 23,3% 15,5% 76,1% -23,0% -13,2% BOND_High_Yeld_GL -12% -52% 0,9% * -0,3% 0,1% -0,7% -0,4% 0,0% -0,3% -1,3% -1,2% 0,6% 0,8% -8,9% -31,9% 0,6% 13,5% -50,9% © MarkeTiming Research (ALL RIGHTS REDERVED) MarkeTiming Selection for the week of 10/5/2021 Stocks FTSE_MIB_(ITALY) Stable and aligned UpTrend about 0,7% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from -7% to 7%. CAC_40_(FRANCE) Stable and aligned UpTrend about 3,5% in weekly progression. Bullish resistence over 6390. Increasing Volatility stance in a range of 2,1% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 13% to 5%. DAX_(GERMANY) Stable and aligned UpTrend about 1% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from 13% to -13%. FTSE_100_(UK) Stable and aligned UpTrend about 3% in weekly progression. Bullish resistence over 7143. Increasing Volatility stance in a range of 3,1% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 10% to 2%. Dow_ Jones_Ind_Av_(USA) Stable and aligned UpTrend about 3% in weekly progression. Bullish resistence over 34811. Increasing Volatility stance in a range of 2,6% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 10% to 5%. Nasdaq_100_(USA) Unstable DownTrend about -0,7% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from 12% to -12%. Nikkei_225_(JAPAN) Unstable DownTrend about -1,3% in weekly mitigation. Take a Long Position with a Tactical Adjustment on portfolio composition from -10% to 10%. Hang_Seng_(HONG KONG) Unstable DownTrend about -0,1% in weekly progression. Bullish resistence over 28887. Increasing Volatility stance in a range of -2,4% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from 1% to -1%. Shanghai_Comp_(CHINA) Unstable DownTrend about -0,9% in weekly progression. Bullish resistence over 3481. Increasing Volatility stance in a range of -1,8% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from -3% to 3%. BSE_Sensex_(INDIA) Unstable DownTrend about -0,7% in weekly mitigation. Take a Long Position with a Tactical Adjustment on portfolio composition from -7% to 7%. RTSI_(RUSSIA) Stable and aligned UpTrend about 11,2% in weekly progression. Bullish resistence over 1577. Increasing Volatility stance in a range of 6,1% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 9% to 22%. Ibovespa_(BRAZIL) Stable and aligned UpTrend about 5,7% in weekly progression. Bullish resistence over 19139. Increasing Volatility stance in a range of 3,7% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 18% to 3%. Currency & Comodity EUR/USD Stable and aligned UpTrend about 2,2% in weekly progression. Bullish resistence over 1. Increasing Volatility stance in a range of 1,5% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from 2% to -1%. Gold Unstable UpTrend about 5,1% in weekly progression. Bullish resistence over 1844. Increasing Volatility stance in a range of 4,3% (risk weight). Crude_Oil_WTI Stable and aligned UpTrend about 9,3% in weekly progression. Bearish suppot under 62. Increasing Volatility stance in a range of 5,7% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 35% to 1%. Natural_Gas Stable and aligned UpTrend about 17,3% in weekly progression. Bearish suppot under 2. Reducing Volatility stance in a range of 3,3% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from 37% to 0%. BOND_Corp_Emerg Stable and aligned UpTrend about 14,6% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from 43% to 0%. Bond BGOV_ITA_BTP Stable DownTrend about -1,3% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from -17% to -4%. BGOV_GERM_BUND Stable and aligned DownTrend about -0,6% in weekly mitigation. Take a Short Position with a Tactical Adjustment on portfolio composition from -13% to -6%. BGOV_UK_GILT Unstable UpTrend about 0,1% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from -22% to -23%. BGOV_USA_Treasury Unstable UpTrend about 0,5% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from 0% to 8%. BGOV_Emerg_Mrkt Unstable UpTrend about 0,3% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from -17% to 17%. BOND_Corp_Europa Stable DownTrend about -0,1% in weekly mitigation. Take a Short Position with a Tactical Adjustment on portfolio composition from -1% to -1%. BOND_Corp_Usa Stable and aligned DownTrend about -1,3% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from -25% to 14%. BOND_High_Yeld_GL Stable and aligned DownTrend about -1,4% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from -16% to 4%. Agricolture Unstable DownTrend about -0,7% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from -13% to 1%. © MarkeTiming Research (ALL RIGHTS REDERVED) MarkeTiming Selection for the week of 3/5/2021 This Report is a rappresentative study of markets stance and does not constitute an investment advisory service. MARKET SELECTION weekly outlook TREND STABILITY PRIMARY TREND trend evolution VOLATILITY STANCE range evolution VOLATILITY DINAMIC volatility evolution TIMING RESISTENCE SUPPORT POWER Stability Trend Dynamic Timing Power LONG TERM MEDIUM TERM SHORT TERM 16/apr 23/apr 30/apr 16/apr 23/apr 30/apr 16/apr 23/apr 30/apr 30/apr 30/apr 30/apr Stocks FTSE_MIB_(ITALY) -7% -17% -17% 12,9% 4,1% -0,4% -2,3% 1,3% -1,4% -1,0% -3,6% 1,7% -3,1% -1,9% -51,2% * 17,7% -137,5% * -43,2% -2,0% -32,0% CAC_40_(FRANCE) 18% 9% 15,7% * 7,3% * 1,1% 2,7% 1,9% -0,5% 0,2% 4,6% 2,4% -2,6% 1,8% -11,0% 26,7% -130,1% -26,9% 5,8% DAX_(GERMANY) 14% -31% -18% 12,4% 6,2% 0,1% 0,2% 1,5% -1,2% -0,9% 3,1% 1,9% -2,8% -1,8% -20,4% 50,7% * -59,8% -77,5% * -1,1% -34,5% FTSE_100_(UK) 10% 11% 9,2% 3,6% 0,5% 3,5% 1,5% -1,2% 0,5% 4,7% 2,6% -2,6% 1,5% -2,0% 9,0% -52,7% -6,1% Dow_ Jones_Ind_Av_(USA) 14% 7% 13,2% 6,0% 0,4% 2,2% 1,3% -0,4% -0,5% 3,0% 2,1% -1,5% -1,2% 4,8% * 12,4% -23,6% 17,5% -13,0% Nasdaq_100_(USA) 14% 12% -21% 12,7% 5,1% 0,7% 4,0% 1,6% -0,6% -0,7% 4,7% 2,2% -2,2% -1,7% -10,6% -23,3% -13,7% -54,0% 8,1% Nikkei_225_(JAPAN) -11% 7% 10,4% 0,0% -1,4% * -3,5% * -0,3% -2,2% * -0,7% -4,9% -1,2% -3,5% * -1,7% -15,3% 5,7% -1,2% -5,6% 14,8% Hang_Seng_(HONG KONG) 7% -3% -18% 8,1% 0,3% 0,5% -0,9% 1,2% 0,2% -1,4% 4,0% 2,9% 2,7% -2,6% -3,1% -6,9% 18,7% -30,5% -35,8% Shanghai_Comp_(CHINA) -3% -16% -17% 1,3% * -1,5% * 0,0% -1,1% -0,7% 1,4% -0,8% -3,6% -2,4% 2,3% -2,3% -8,2% -24,9% * 58,3% * -39,4% -3,9% -30,0% BSE_Sensex_(INDIA) -8% -24% 10,0% -0,7% 0,7% -2,5% -1,5% * -2,0% 1,9% * -6,5% * -2,9% * -2,6% 4,5% * -14,7% -12,9% 0,8% -13,7% 1,2% -50,2% RTSI_(RUSSIA) 14% 4% -15% 13,0% 3,9% 2,5% * 1,2% 5,6% * 1,0% -1,8% * 8,4% 5,9% * 4,4% * -3,1% * -5,4% 25,8% -3,3% -39,0% 0,2% Ibovespa_(BRAZIL) 10% 26% 8,7% 2,9% 2,5% 8,2% * 0,8% 1,5% * 1,7% 8,7% * 4,1% 2,8% 3,5% 0,3% -20,3% 1,7% 29,1% * 0,8% Currency & Comodity EUR/USD 2% -35% 1,3% 0,5% 0,9% 2,2% 0,7% 1,0% -0,6% 3,4% 1,0% 1,3% -1,1% 7,7% 21,5% 11,8% -25,4% 2,6% Gold -36% -19% -4,4% * -0,9% * 0,8% * 2,1% * 1,9% 0,0% -0,5% 4,3% 3,5% -1,9% -2,0% -7,0% 30,8% -22,3% -26,1% -7,3% Crude_Oil_WTI 35% 28,8% * 8,4% 2,5% 3,6% 6,4% -1,6% 2,2% 12,5% 8,2% -6,0% 7,5% 7,0% 61,1% -61,2% 7,2% -3,9% Natural_Gas 23% 52% 46% 11,0% 7,6% 7,8% * 11,8% * 6,5% 1,5% 7,9% 35,4% 6,4% 4,4% 7,2% -8,4% 30,2% 65,9% 3,5% 17,2% Agricolture 39% 48% 28% 35% 26,3% 12,2% * 5,9% 10,8% 1,6% 5,7% 1,9% 15,4% 3,7% 6,2% 5,0% 28,7% 24,8% 62,7% 20,4% 13,2% Bond BGOV_ITA_BTP -10% -25% -17% -0,9% -1,4% -0,5% -1,7% -0,2% -0,2% -0,5% -1,9% -0,7% -0,7% -0,8% -26,2% -3,4% -28,1% -8,1% -32,5% BGOV_GERM_BUND -14% -13% -13% -18% -2,1% -1,3% -0,3% -0,9% -0,3% 0,0% -0,4% -1,2% -0,5% -0,4% -0,6% -17,9% -26,2% -7,7% -24,9% -33,3% BGOV_UK_GILT -23% -13% -27% -4,2% * -2,0% -0,1% 0,1% 0,1% 0,4% -0,9% 2,0% 1,0% 1,5% -1,3% 11,4% 5,6% 59,5% -23,9% -10,9% -39,3% BGOV_USA_Treasury -3,5% -1,2% 0,0% * 0,4% * 0,3% 0,2% -0,2% 1,2% 0,9% 0,4% -0,6% 19,9% 50,4% 15,2% 9,7% BGOV_Emerg_Mrkt -18% -10% -2,4% -2,1% * -0,4% -0,3% 0,2% -0,8% 0,2% -1,5% 1,2% -1,0% 0,8% -14,0% 15,3% -28,8% -18,5% -1,8% BOND_Corp_Europa -2% 8% -21% 0,0% -0,3% * -0,1% -0,4% 0,0% -0,1% -0,1% -0,6% -0,3% -0,3% -0,3% 4,0% -5,5% -6,3% 15,9% -7,3% -32,5% BOND_Corp_Usa -24% -26% 17% -4,1% -1,8% -0,8% * -1,8% * -0,5% -0,2% -0,3% -3,1% -0,8% -1,5% 1,4% -3,4% 2,9% -20,7% 32,1% 4,5% BOND_Corp_Emerg -10% -23% 40% 17% -1,3% -0,7% -0,8% -1,6% -0,5% -0,6% 0,3% -3,1% -0,9% -0,9% 1,2% 12,1% 25,9% 15,5% 76,1% 31,2% BOND_High_Yeld_GL -13% 0,6% * -0,5% -0,4% -0,9% -0,1% -0,4% 0,0% -1,7% -0,7% -1,2% 0,6% -24,2% -7,3% -31,9% 0,6% © MarkeTiming Research (ALL RIGHTS REDERVED) MarkeTiming Selection for the week of 33/4/2021 Stocks FTSE_MIB_(ITALY) Unstable DownTrend about -2,3% in weekly progression. Bullish resistence over 24554. Increasing Volatility stance in a range of -1,9% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from 0% to -7%. CAC_40_(FRANCE) Stable and aligned UpTrend about 2,7% in weekly progression. Bearish suppot under 6240. Increasing Volatility stance in a range of 1,7% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from 16% to -2%. DAX_(GERMANY) Stable and aligned UpTrend Take a Short Position with a Tactical Adjustment on portfolio composition from 13% to -6%. FTSE_100_(UK) Stable and aligned UpTrend about 3,4% in weekly progression. Bearish suppot under 6913. Increasing Volatility stance in a range of 1,5% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 9% to 0%. Dow_ Jones_Ind_Av_(USA) Stable and aligned UpTrend Take a Short Position with a Tactical Adjustment on portfolio composition from 12% to -2%. Nasdaq_100_(USA) Stable and aligned UpTrend Take a Short Position with a Tactical Adjustment on portfolio composition from 18% to -5%. Nikkei_225_(JAPAN) Unstable DownTrend about -3,4% in weekly progression. Bearish suppot under 28760. Increasing Volatility stance in a range of -1,6% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from 0% to -10%. Hang_Seng_(HONG KONG) Unstable DownTrend about -0,8% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from 6% to -1%. Shanghai_Comp_(CHINA) Unstable DownTrend about -1% in weekly progression. Bullish resistence over 3497. Increasing Volatility stance in a range of -2,3% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from 0% to -3%. BSE_Sensex_(INDIA) Unstable DownTrend about -2,4% in weekly mitigation. Take a Short Position with a Tactical Adjustment on portfolio composition from 0% to -7%. RTSI_(RUSSIA) Stable and aligned UpTrend Take a Short Position with a Tactical Adjustment on portfolio composition from 12% to -3%. Ibovespa_(BRAZIL) Stable and aligned UpTrend about 8,2% in weekly progression. Bearish suppot under 18058. Increasing Volatility stance in a range of 3,4% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 14% to 4%. Currency & Comodity EUR/USD Stable UpTrend Take a Long Position with a Tactical Adjustment on portfolio composition from 0% to 2%. Gold Unstable UpTrend Crude_Oil_WTI Stable and aligned UpTrend about 3,5% in weekly progression. Bullish resistence over 65. Increasing Volatility stance in a range of 7,4% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from 45% to -10%. Natural_Gas Stable UpTrend about 11,8% in weekly progression. Bullish resistence over 2. Reducing Volatility stance in a range of 7,1% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 26% to 11%. BOND_Corp_Emerg Stable and aligned UpTrend about 10,8% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from 50% to -7%. Bond BGOV_ITA_BTP Stable DownTrend about -1,7% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from -19% to 2%. BGOV_GERM_BUND Stable and aligned DownTrend about -0,8% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from -19% to 6%. BGOV_UK_GILT Unstable UpTrend Take a Short Position with a Tactical Adjustment on portfolio composition from 0% to -22%. BGOV_USA_Treasury Unstable UpTrend Take a Short Position with a Tactical Adjustment on portfolio composition from 12% to -12%. BGOV_Emerg_Mrkt Stable and aligned DownTrend about -0,2% in weekly mitigation. Take a Short Position with a Tactical Adjustment on portfolio composition from 8% to -13%. BOND_Corp_Europa Stable DownTrend about -0,4% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from 0% to -1%. BOND_Corp_Usa Stable and aligned DownTrend about -1,8% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from -27% to 2%. BOND_High_Yeld_GL Stable DownTrend about -1,6% in weekly mitigation. Take a Long Position with a Tactical Adjustment on portfolio composition from -22% to 6%. Agricolture Unstable DownTrend about -0,9% in weekly mitigation. Take a Short Position with a Tactical Adjustment on portfolio composition from 0% to -13%. © MarkeTiming Research (ALL RIGHTS REDERVED) MarkeTiming Selection for the week of 26/4/2021 This Report is a rappresentative study of markets stance and does not constitute an investment advisory service. MARKET SELECTION weekly outlook TREND STABILITY PRIMARY TREND trend evolution VOLATILITY STANCE range evolution VOLATILITY DINAMIC volatility evolution TIMING RESISTENCE SUPPORT POWER Stability Trend Dynamic Timing Power LONG TERM MEDIUM TERM SHORT TERM 09/apr 16/apr 23/apr 09/apr 16/apr 23/apr 09/apr 16/apr 23/apr 23/apr 23/apr 23/apr Stocks FTSE_MIB_(ITALY) -30% -24% 13,4% 4,8% -0,6% 0,0% -1,1% 1,3% -1,4% -3,6% -2,1% 1,7% -3,1% -45,1% * -50,8% 17,7% -137,5% * 6,3% -39,0% CAC_40_(FRANCE) 18% 14% -29% 3% 15,7% * 7,5% * 1,4% 4,5% 1,1% 1,9% -0,5% 5,4% 2,0% 2,4% -2,6% -3,6% 26,7% -130,1% 3,7% DAX_(GERMANY) 16% 11% -9% 13,2% 7,2% 0,7% 3,6% 0,8% 1,5% -1,2% 4,9% 1,8% 1,9% -2,6% -5,9% -23,6% 50,7% * -38,8% -0,7% FTSE_100_(UK) 10% 9% -12% 9,1% 3,7% 1,0% 2,9% 2,6% 1,5% -1,2% 4,9% 3,4% 2,6% -2,6% -0,8% 36,4% 9,0% -52,7% 0,0% Dow_ Jones_Ind_Av_(USA) 16% 9% -7% 13,9% 6,7% 1,1% 3,0% 1,8% 1,3% -0,4% 4,0% 1,6% 2,1% -1,5% 2,0% 37,6% * 12,4% -23,6% -9,2% Nasdaq_100_(USA) 14% 23% -8% -6% 12,7% 4,9% 1,6% 7,5% * 3,7% 1,6% -0,6% 9,1% * 2,9% 2,2% -2,2% -13,8% 30,0% -23,3% -34,5% -8,6% Nikkei_225_(JAPAN) -21% 11,6% 1,0% -1,2% -0,5% -0,3% -0,3% -2,2% * -4,8% -2,3% -1,2% -3,5% * -14,8% -58,7% 5,7% -1,2% 17,5% -46,4% Hang_Seng_(HONG KONG) 6% 7,9% 0,3% 0,3% 2,6% -0,9% 1,2% 0,2% 4,3% 2,0% 2,9% 2,7% 6,2% * 4,3% -6,9% 18,7% Shanghai_Comp_(CHINA) 13% 30% 1,9% * -0,9% 0,4% 1,6% -1,0% -0,7% 1,4% 3,5% -1,5% -2,4% 2,3% 2,2% 1,6% -24,9% * 58,3% * 2,3% 38,0% BSE_Sensex_(INDIA) 3% 8,0% -3,0% * -2,2% * -2,3% * -0,9% -1,5% * -2,0% -6,2% * -3,1% -2,9% * -2,6% -10,7% -71,5% * -12,9% 0,8% 4,2% RTSI_(RUSSIA) 12% 13% 5% 11,7% 2,6% 1,5% 4,3% -3,3% * 5,6% * 1,0% 7,5% -4,1% * 5,9% * 4,4% * -5,2% -21,6% 25,8% -3,3% 7,4% Ibovespa_(BRAZIL) 8% 20% 7,3% 1,1% 2,5% * 6,4% 4,1% * 0,8% 1,5% * 9,0% 4,3% * 4,1% 2,8% -11,4% -21,8% -20,3% 1,7% Currency & Comodity EUR/USD 1,0% -0,1% 1,1% * 2,6% 1,2% 0,7% 1,0% 3,3% 1,6% 1,0% 1,3% 13,3% 18,3% 21,5% 11,8% Gold -9% -4,1% * -0,8% * 2,0% 2,6% 0,7% 1,9% 0,0% 6,9% 2,2% 3,5% -1,9% 3,5% -17,9% 30,8% -22,3% -6,1% Crude_Oil_WTI 45% -32% -17% 27,9% * 8,1% 1,8% 2,2% * -3,2% 6,4% -1,6% 10,9% -6,3% 8,2% -6,0% 8,6% -34,3% 61,1% -61,2% -11,6% Natural_Gas 13% 41% 35% 5,3% 1,3% 3,9% 6,4% -4,0% 6,5% 1,5% 36,2% -34,4% 6,4% 4,4% -31,1% -61,2% 30,2% 65,9% Agricolture 42% 59% 33% 73% 22,0% 8,8% * 4,2% * 9,2% * 1,2% 1,6% 5,7% 10,8% -3,5% 3,7% 6,2% 1,2% -40,6% 24,8% 62,7% 48,9% Bond BGOV_ITA_BTP -13% -27% -17% -0,3% -1,0% -0,4% -1,4% -0,8% -0,2% -0,2% -1,8% -1,0% -0,7% -0,7% -36,8% -44,5% -3,4% -28,1% -5,5% BGOV_GERM_BUND -26% -13% -2,0% -1,3% -0,2% -0,7% -0,2% -0,3% 0,0% -1,0% -0,4% -0,5% -0,4% -17,3% -9,4% -26,2% -7,7% 1,4% BGOV_UK_GILT 35% 36% -4,0% * -2,0% * 0,4% * 0,2% 0,4% 0,1% 0,4% 2,0% 1,3% 1,0% 1,5% 18,5% 8,6% 5,6% 59,5% 14,0% 42,9% BGOV_USA_Treasury 12% 5% -3,5% -1,2% 0,4% 0,6% * 0,1% 0,3% 0,2% 1,2% 0,6% 0,9% 0,4% 16,8% 11,7% 50,4% 15,2% 7,5% BGOV_Emerg_Mrkt 8% -17% -32% -2,0% -1,9% 0,1% 0,4% 0,1% 0,2% -0,8% 1,8% 1,0% 1,2% -1,0% -2,9% -53,1% 15,3% -28,8% -6,4% -44,0% BOND_Corp_Europa 0,1% -0,3% -0,1% 0,0% -0,2% 0,0% -0,1% 0,7% 0,3% -0,3% -0,3% 0,9% -0,6% -5,5% -6,3% -1,3% BOND_Corp_Usa -46% -9% -12% 28% -3,9% -1,5% -0,7% -0,5% -0,8% -0,5% -0,2% -2,7% -1,2% -0,8% -1,5% -6,5% -30,9% 2,9% -20,7% 4,3% 39,9% BOND_Corp_Emerg -16% -30% -0,9% -0,3% -0,9% * -1,5% * -0,8% -0,5% -0,6% -2,7% -1,5% -0,9% -0,9% -8,7% -25,0% 25,9% 15,5% BOND_High_Yeld_GL -19% 0,8% * -0,3% * -0,4% -0,1% -0,5% -0,1% -0,4% -1,7% -0,8% -0,7% -1,2% -30,0% -49,8% -7,3% -31,9% -4,0% © MarkeTiming Research (ALL RIGHTS REDERVED) MarkeTiming Selection for the week of 26/4/2021 Stocks FTSE_MIB_(ITALY) Unstable DownTrend about 0% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from 12% to -12%. CAC_40_(FRANCE) Stable and aligned UpTrend Take a Long Position with a Tactical Adjustment on portfolio composition from 14% to 1%. DAX_(GERMANY) Stable and aligned UpTrend Take a Short Position with a Tactical Adjustment on portfolio composition from 15% to -2%. FTSE_100_(UK) Stable and aligned UpTrend Take a Short Position with a Tactical Adjustment on portfolio composition from 11% to -1%. Dow_ Jones_Ind_Av_(USA) Stable and aligned UpTrend Take a Short Position with a Tactical Adjustment on portfolio composition from 14% to -1%. Nasdaq_100_(USA) Stable and aligned UpTrend Take a Short Position with a Tactical Adjustment on portfolio composition from 20% to -2%. Nikkei_225_(JAPAN) Unstable DownTrend about -0,5% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from 10% to -10%. Hang_Seng_(HONG KONG) Stable UpTrend about 2,6% in weekly progression. Bearish suppot under 28544. Increasing Volatility stance in a range of 2,7% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 4% to 1%. Shanghai_Comp_(CHINA) Unstable UpTrend about 1,6% in weekly progression. Bullish resistence over 3494. Increasing Volatility stance in a range of 2,2% (risk weight). BSE_Sensex_(INDIA) Unstable DownTrend about -2,3% in weekly progression. Bullish resistence over 48478. Increasing Volatility stance in a range of -2,6% (risk weight). RTSI_(RUSSIA) Stable and aligned UpTrend about 4,2% in weekly progression. Bearish suppot under 1450. Increasing Volatility stance in a range of 4,4% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 7% to 8%. Ibovespa_(BRAZIL) Stable UpTrend about 6,4% in weekly progression. Bearish suppot under 17817. Increasing Volatility stance in a range of 2,7% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 11% to 8%. Currency & Comodity EUR/USD Unstable UpTrend about 2,5% in weekly progression. Bullish resistence over 1. Increasing Volatility stance in a range of 1,2% (risk weight). Gold #DIV/0! Crude_Oil_WTI Stable and aligned UpTrend Take a Short Position with a Tactical Adjustment on portfolio composition from 48% to -25%. Natural_Gas Stable UpTrend about 6,3% in weekly progression. Bearish suppot under 2. Reducing Volatility stance in a range of 4,4% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from 66% to -6%. BOND_Corp_Emerg Stable and aligned UpTrend about 9,2% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from 37% to 31%. Bond BGOV_ITA_BTP Stable DownTrend about -1,3% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from -13% to -6%. BGOV_GERM_BUND Stable and aligned DownTrend about -0,6% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from -29% to -4%. BGOV_UK_GILT Unstable UpTrend about 0,2% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from 14% to -14%. BGOV_USA_Treasury Unstable UpTrend about 0,6% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from 14% to -2%. BGOV_Emerg_Mrkt Unstable UpTrend Take a Long Position with a Tactical Adjustment on portfolio composition from 0% to 8%. BOND_Corp_Europa Unstable UpTrend Take a Short Position with a Tactical Adjustment on portfolio composition from 6% to -6%. BOND_Corp_Usa Stable and aligned DownTrend about -0,4% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from -6% to -20%. BOND_High_Yeld_GL Stable DownTrend about -1,5% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from 0% to -22%. Agricolture Unstable DownTrend about -0,1% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from 17% to -17%. © MarkeTiming Research (ALL RIGHTS REDERVED) MarkeTiming Selection for the week of 19/4/2021 This Report is a rappresentative study of markets stance and does not constitute an investment advisory service. MARKET SELECTION weekly outlook TREND STABILITY PRIMARY TREND trend evolution VOLATILITY STANCE range evolution VOLATILITY DINAMIC volatility evolution TIMING RESISTENCE SUPPORT POWER Stability Trend Dynamic Timing Power LONG TERM MEDIUM TERM SHORT TERM 02/apr 09/apr 16/apr 02/apr 09/apr 16/apr 02/apr 09/apr 16/apr 16/apr 16/apr 16/apr Stocks FTSE_MIB_(ITALY) 12% 11% 19% 14,7% 6,0% 0,1% 2,3% 1,3% -1,1% 1,3% 4,1% 1,8% -2,1% 1,7% -20,0% 7,5% -50,8% 17,7% 15,6% 33,9% CAC_40_(FRANCE) 15% 15% 15,5% * 7,5% 1,8% 4,8% 1,9% 1,1% 1,9% 6,8% 2,0% 2,0% 2,4% 17,9% * 2,1% DAX_(GERMANY) 14% 18% 31% 13,5% 7,8% * 1,5% 5,7% 2,4% 0,8% 1,5% 7,0% 2,4% 1,8% 1,9% 17,5% 15,1% -23,6% 50,7% * 4,5% FTSE_100_(UK) 9% 14% 9,4% 3,9% 1,7% 4,6% 0,0% * 2,6% 1,5% 6,1% -1,3% * 3,4% 2,6% 12,3% 36,4% 9,0% -1,8% Dow_ Jones_Ind_Av_(USA) 14% 15% 14,3% 7,1% 1,7% 4,8% 0,2% 1,8% 1,3% 6,5% 1,1% 1,6% 2,1% 15,9% 37,6% * 12,4% Nasdaq_100_(USA) 14% 28% -14% 13,9% 6,0% 3,8% * 9,1% * 2,7% * 3,7% 1,6% 10,6% * 4,1% 2,9% 2,2% 1,0% 0,5% 30,0% -23,3% 1,8% Nikkei_225_(JAPAN) 11% 14,3% 3,3% 0,8% -0,4% 2,3% -0,3% -0,3% 6,2% 2,4% -2,3% -1,2% -23,5% * -1,8% -58,7% 5,7% -14,6% Hang_Seng_(HONG KONG) 5% 7,6% 0,3% 0,4% 0,1% 2,1% -0,9% 1,2% 5,7% 2,9% 2,0% 2,9% -8,4% 3,4% 4,3% -6,9% -4,0% Shanghai_Comp_(CHINA) -15% 11% 0,3% * -2,4% * -0,7% 0,6% 1,9% -1,0% -0,7% 4,4% 2,2% -1,5% -2,4% -10,4% 1,6% -24,9% * -6,4% 35,5% BSE_Sensex_(INDIA) 18% 10,1% -1,5% -1,6% * -2,1% * 2,1% -0,9% -1,5% * -5,2% * 3,1% -3,1% -2,9% * -16,3% 24,8% * -71,5% * -12,9% 1,5% 44,2% RTSI_(RUSSIA) 7% 16% 38% 10,3% 1,2% 0,5% 1,6% 1,2% -3,3% * 5,6% * 6,2% 2,4% -4,1% * 5,9% * -5,7% -37,9% * -21,6% 25,8% 4,6% 93,4% Ibovespa_(BRAZIL) 11% -12% 14% 4,9% -1,5% 1,1% 3,7% 0,0% 4,1% * 0,8% 7,9% 5,4% * 4,3% * 4,1% -20,1% -35,3% -21,8% -20,3% 35,3% Currency & Comodity EUR/USD 0,4% -0,9% 0,8% 0,6% * -0,3% 1,2% 0,7% 2,4% -0,8% 1,6% 1,0% 10,8% 8,1% 18,3% 21,5% Gold -5,9% * -2,9% * 0,8% 2,0% 0,0% 0,7% 1,9% 6,1% -3,3% 2,2% 3,5% 3,1% 6,2% -17,9% 30,8% 5,0% Crude_Oil_WTI 63% 34% 100% 52% 28,2% * 8,7% * 1,9% * 2,8% 0,8% -3,2% 6,4% 10,7% 5,5% -6,3% 8,2% 11,4% 12,4% -34,3% 61,1% -5,0% 56,8% Natural_Gas 66% 2,0% -2,5% 1,6% 5,5% * 2,6% -4,0% 6,5% 36,8% 15,6% -34,4% 6,4% -41,2% -98,7% -61,2% 30,2% Agricolture 37% 48% 17,3% 5,0% 0,8% * 2,1% 0,5% 1,2% 1,6% 4,9% 4,2% -3,5% 3,7% -28,8% -93,7% -40,6% 24,8% 47,6% Bond BGOV_ITA_BTP -14% -13% -4% -0,1% -1,0% -0,5% -0,7% * -0,1% -0,8% -0,2% -1,6% -1,0% -1,0% -0,7% -37,6% -64,4% -44,5% -3,4% -6,1% BGOV_GERM_BUND -29% -22% -29% -1,8% -1,3% -0,2% -0,2% -0,2% -0,2% -0,3% -0,9% -0,7% -0,4% -0,5% -17,5% -22,6% -9,4% -26,2% -0,8% -46,3% BGOV_UK_GILT 15% -4,5% * -2,6% * 0,2% 0,8% -0,7% 0,4% 0,1% 2,3% 1,3% 1,3% 1,0% 6,3% 5,3% 8,6% 5,6% -0,1% BGOV_USA_Treasury 15% 43% 21% -3,9% -1,7% 0,2% * 0,8% 0,0% 0,1% 0,3% 1,2% -0,5% 0,6% 0,9% 11,9% -35,1% 11,7% 50,4% 34,4% BGOV_Emerg_Mrkt 13% 30% -2,2% -2,3% 0,1% -0,1% 0,9% 0,1% 0,2% 1,7% 1,4% 1,0% 1,2% 10,1% 34,0% -53,1% 15,3% 1,6% 46,8% BOND_Corp_Europa 7% 2% 0,2% -0,3% 0,0% 0,4% 0,3% -0,2% 0,0% 0,7% 0,6% 0,3% -0,3% -0,2% 6,8% -0,6% -5,5% 3,8% BOND_Corp_Usa -42% 29% -4% -3,5% -1,1% -0,2% 1,6% * 1,1% -0,8% -0,5% 2,8% 1,5% -1,2% -0,8% -0,4% 17,9% -30,9% 2,9% -7,2% BOND_Corp_Emerg 22% -0,6% 0,1% -0,7% * -0,3% 0,4% -0,8% -0,5% -2,2% -0,7% -1,5% -0,9% -14,0% -14,5% -25,0% 25,9% BOND_High_Yeld_GL 14% 22% -9% 1,3% * 0,2% * 0,0% 1,2% 0,9% -0,5% -0,1% 2,1% 0,9% -0,8% -0,7% -22,3% -31,3% -49,8% -7,3% -14,9% © MarkeTiming Research (ALL RIGHTS REDERVED) MarkeTiming Selection for the week of 19/4/2021 Stocks FTSE_MIB_(ITALY) Stable and aligned UpTrend about 2,2% in weekly progression. Bullish resistence over 24767. Increasing Volatility stance in a range of 1,7% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from 15% to -3%. CAC_40_(FRANCE) Stable and aligned UpTrend about 4,8% in weekly progression. Bullish resistence over 6299. Increasing Volatility stance in a range of 2,3% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 10% to 4%. DAX_(GERMANY) Stable and aligned UpTrend about 5,7% in weekly progression. Bullish resistence over 15473. Increasing Volatility stance in a range of 1,8% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from 15% to 0%. FTSE_100_(UK) Stable and aligned UpTrend about 4,6% in weekly progression. Bullish resistence over 7037. Increasing Volatility stance in a range of 2,6% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 7% to 3%. Dow_ Jones_Ind_Av_(USA) Stable and aligned UpTrend about 4,7% in weekly progression. Bullish resistence over 34256. Increasing Volatility stance in a range of 2% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 11% to 2%. Nasdaq_100_(USA) Stable and aligned UpTrend about 9% in weekly progression. Bearish suppot under 13747. Reducing Volatility stance in a range of 2,1% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 17% to 3%. Nikkei_225_(JAPAN) Unstable DownTrend about -0,3% in weekly progression. Bullish resistence over 29897. Reducing Volatility stance in a range of -1,2% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from 13% to -2%. Hang_Seng_(HONG KONG) Stable UpTrend about 0% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from 5% to -1%. Shanghai_Comp_(CHINA) Unstable UpTrend BSE_Sensex_(INDIA) Unstable DownTrend about -2% in weekly progression. Bullish resistence over 49089. Increasing Volatility stance in a range of -2,8% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from -7% to 7%. RTSI_(RUSSIA) Stable and aligned UpTrend about 1,5% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from -21% to 14%. Ibovespa_(BRAZIL) Unstable UpTrend about 3,6% in weekly progression. Bearish suppot under 17332. Increasing Volatility stance in a range of 4% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 9% to 1%. Currency & Comodity EUR/USD Unstable UpTrend about 0,6% in weekly progression. Gold Unstable UpTrend about 1,9% in weekly progression. Bullish resistence over 1784. Increasing Volatility stance in a range of 3,4% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from 8% to -8%. Crude_Oil_WTI Stable and aligned UpTrend about 2,7% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from -66% to 81%. Natural_Gas Unstable UpTrend about 5,4% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from -59% to 92%. BOND_Corp_Emerg Stable and aligned UpTrend about 2,1% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from 6% to 15%. Bond BGOV_ITA_BTP Stable DownTrend about -0,6% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from -13% to -7%. BGOV_GERM_BUND Stable and aligned DownTrend about -0,1% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from -40% to 10%. BGOV_UK_GILT Unstable UpTrend about 0,8% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from 12% to 1%. BGOV_USA_Treasury Unstable UpTrend about 0,8% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from 0% to 14%. BGOV_Emerg_Mrkt Unstable DownTrend about -0,1% in weekly mitigation. BOND_Corp_Europa Unstable UpTrend Take a Long Position with a Tactical Adjustment on portfolio composition from 0% to 6%. BOND_Corp_Usa Unstable UpTrend Take a Short Position with a Tactical Adjustment on portfolio composition from 38% to -25%. BOND_High_Yeld_GL Unstable DownTrend about -0,3% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from 16% to -16%. Agricolture Stable and aligned UpTrend Take a Short Position with a Tactical Adjustment on portfolio composition from 31% to -13%. © MarkeTiming Research (ALL RIGHTS REDERVED) MarkeTiming Selection for the week of 12/4/2021 This Report is a rappresentative study of markets stance and does not constitute an investment advisory service. MARKET SELECTION weekly outlook TREND STABILITY PRIMARY TREND trend evolution VOLATILITY STANCE range evolution VOLATILITY DINAMIC volatility evolution TIMING RESISTENCE SUPPORT POWER Stability Trend Dynamic Timing Power LONG TERM MEDIUM TERM SHORT TERM 26/mar 02/apr 09/apr 26/mar 02/apr 09/apr 26/mar 02/apr 09/apr 09/apr 09/apr 09/apr Stocks FTSE_MIB_(ITALY) 16% -18% 16,0% * 7,4% 1,1% 1,3% 0,8% 1,3% -1,1% 4,1% 2,0% 1,8% -2,1% -19,4% 8,9% 7,5% -50,8% CAC_40_(FRANCE) 15% 7% 14,9% 6,9% 1,4% 2,0% -0,2% 1,9% 1,1% 5,0% 2,0% 2,0% 2,0% -3,1% 13,0% 2,1% DAX_(GERMANY) 15% 16% -8% 13,5% 8,1% * 2,2% 5,0% 0,9% 2,4% 0,8% 6,1% 2,4% 2,4% 1,8% -0,8% 23,6% * 15,1% -23,6% FTSE_100_(UK) 8% 7% 46% 8,3% 2,9% 1,1% 2,3% 0,5% 0,0% * 2,6% 4,9% 1,8% -1,3% * 3,4% -2,3% -6,6% 61,1% Dow_ Jones_Ind_Av_(USA) 14% 9% 13,8% 6,7% 1,3% 2,9% 1,4% * 0,2% 1,8% 5,0% 3,1% 1,1% 1,6% 7,7% 7,7% Nasdaq_100_(USA) 13% 22% 11% 24% 12,4% 4,5% 3,4% * 6,8% * 0,9% 2,7% * 3,7% 9,0% * 4,2% * 4,1% 2,9% 11,5% * -3,3% 0,5% 30,0% * 32,2% Nikkei_225_(JAPAN) 14% -21% 15,8% 4,5% 1,2% 0,2% -2,1% 2,3% -0,3% -7,1% -3,8% 2,4% -2,3% -21,9% -17,1% -1,8% -58,7% Hang_Seng_(HONG KONG) 6% 8,2% 0,9% 0,3% -0,2% -2,3% * 2,1% -0,9% -7,2% -5,7% 2,9% 2,0% -11,5% -39,6% * 3,4% 4,3% 0,7% Shanghai_Comp_(CHINA) 2,3% * -0,6% 0,9% -0,1% 0,4% 1,9% -1,0% 4,4% 2,9% 2,2% -1,5% -5,8% -12,7% -5,1% BSE_Sensex_(INDIA) -8% -26% 13,3% 1,1% -0,1% -2,4% -1,7% 2,1% -0,9% -5,2% -4,1% 3,1% -3,1% -13,8% -15,9% 24,8% * -71,5% * RTSI_(RUSSIA) -21% -8% 9,0% 0,0% -1,8% * -6,7% * -1,6% 1,2% -3,3% * -10,1% * -4,6% 2,4% -4,1% * -30,6% * -4,0% -37,9% * -21,6% Ibovespa_(BRAZIL) 10% -8% 29% 5,2% -1,5% * 1,7% 3,0% -1,1% 0,0% 4,1% * 7,1% -6,5% * 5,4% * 4,3% * -14,2% -14,3% -35,3% -21,8% -4,2% 42,9% Currency & Comodity EUR/USD 38% -0,2% -1,7% 0,1% -0,5% -0,9% -0,3% 1,2% -2,4% -1,6% -0,8% 1,6% 8,5% -14,7% 8,1% 18,3% 4,4% 50,5% Gold 8% -6,4% * -3,6% 0,6% * 1,2% * -0,6% 0,0% 0,7% 4,7% -1,6% -3,3% 2,2% -5,3% -26,2% 6,2% -17,9% -16,2% Crude_Oil_WTI -67% -25% 25,3% * 6,7% * -2,0% * -9,6% * -1,0% 0,8% -3,2% -14,7% -7,7% 5,5% -6,3% -24,2% -7,1% 12,4% -34,3% Natural_Gas -100% -19% -45% 38% -1,4% -6,3% * -1,6% -2,7% 0,6% 2,6% -4,0% -37,2% 4,3% 15,6% -34,4% -40,9% 20,5% -98,7% -61,2% 3,3% 52,1% Agricolture 7% -30% 25% 17,1% 5,2% -0,2% 0,9% -1,2% 0,5% 1,2% 4,4% -2,1% 4,2% -3,5% -19,9% -17,4% -93,7% -40,6% -22,0% 57,9% Bond BGOV_ITA_BTP -13% -22% -31% 0,6% -0,5% -0,2% * -0,7% * 0,5% -0,1% -0,8% -1,3% 0,8% -1,0% -1,0% -45,3% -30,7% -64,4% -44,5% -8,8% -41,9% BGOV_GERM_BUND -40% -1,6% -1,2% 0,0% 0,0% 0,5% -0,2% -0,2% -0,9% 0,7% -0,7% -0,4% -12,9% -8,9% -22,6% -9,4% 0,9% BGOV_UK_GILT 13% -4,9% * -3,1% * 0,1% 0,7% 0,9% -0,7% 0,4% 3,2% 2,2% 1,3% 1,3% -1,4% 4,4% 5,3% 8,6% 1,6% BGOV_USA_Treasury 20% -4,3% -2,2% 0,1% 0,2% 0,4% 0,0% 0,1% 1,1% 0,6% -0,5% 0,6% 5,3% 2,2% -35,1% 11,7% 32,1% BGOV_Emerg_Mrkt -26% -11% -2,3% -2,4% 0,3% 0,2% -1,3% 0,9% 0,1% 1,9% -1,1% 1,4% 1,0% 1,0% 34,0% -53,1% -17,6% BOND_Corp_Europa 0,3% -0,3% 0,2% 0,4% 0,3% 0,3% -0,2% 0,9% 0,4% 0,6% 0,3% 3,2% -19,0% 6,8% -0,6% 7,1% BOND_Corp_Usa 38% -15% -3,3% -0,8% 0,8% * 2,2% * 1,8% 1,1% -0,8% 3,8% 1,9% 1,5% -1,2% -0,6% 4,6% 17,9% -30,9% 0,1% BOND_Corp_Emerg 17% 15% -12% -28% 0,2% 0,9% * 0,1% 0,9% 0,6% 0,4% -0,8% 2,0% 1,7% -0,7% -1,5% -16,2% -12,1% -14,5% -25,0% -45,8% BOND_High_Yeld_GL 43% 20% -24% -10% 1,7% * 0,6% 0,7% 1,2% 0,9% 0,9% -0,5% 2,2% 1,4% 0,9% -0,8% -28,2% 5,3% -31,3% -49,8% -15,5% © MarkeTiming Research (ALL RIGHTS REDERVED) MarkeTiming Selection for the week of 12/4/2021 Stocks FTSE_MIB_(ITALY) Stable and aligned UpTrend Take a Short Position with a Tactical Adjustment on portfolio composition from 19% to -11%. CAC_40_(FRANCE) Stable and aligned UpTrend about 2% in weekly progression. Bullish resistence over 6188. Increasing Volatility stance in a range of 2% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from 15% to -4%. DAX_(GERMANY) Stable and aligned UpTrend about 5% in weekly progression. Bearish suppot under 15032. Increasing Volatility stance in a range of 1,8% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from 19% to -3%. FTSE_100_(UK) Stable and aligned UpTrend about 2,2% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from 6% to 4%. Dow_ Jones_Ind_Av_(USA) Stable and aligned UpTrend about 2,9% in weekly progression. Bullish resistence over 33744. Increasing Volatility stance in a range of 1,5% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from 14% to -3%. Nasdaq_100_(USA) Stable and aligned UpTrend about 6,7% in weekly progression. Bullish resistence over 13817. Increasing Volatility stance in a range of 2,8% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 10% to 6%. Nikkei_225_(JAPAN) Stable and aligned UpTrend Take a Short Position with a Tactical Adjustment on portfolio composition from 11% to -5%. Hang_Seng_(HONG KONG) Unstable DownTrend about -0,2% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from 0% to 5%. Shanghai_Comp_(CHINA) Unstable DownTrend about 0% in weekly progression. BSE_Sensex_(INDIA) Unstable DownTrend about -2,3% in weekly progression. Bullish resistence over 50118. Increasing Volatility stance in a range of -3% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from 0% to -7%. RTSI_(RUSSIA) Unstable DownTrend about -6,6% in weekly progression. Bullish resistence over 1465. Increasing Volatility stance in a range of -4% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from 0% to -21%. Ibovespa_(BRAZIL) Unstable UpTrend about 3% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from 8% to 0%. Currency & Comodity EUR/USD Unstable DownTrend about -0,4% in weekly mitigation. Take a Long Position with a Tactical Adjustment on portfolio composition from -22% to 22%. Gold Unstable UpTrend about 1,1% in weekly progression. Bullish resistence over 1759. Increasing Volatility stance in a range of 2,1% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from -30% to 34%. Crude_Oil_WTI Unstable DownTrend about -9,6% in weekly progression. Bullish resistence over 61. Increasing Volatility stance in a range of -6,2% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from -60% to -5%. Natural_Gas Stable DownTrend about -2,7% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from -22% to -47%. BOND_Corp_Emerg Stable and aligned UpTrend about 0,9% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from 0% to 6%. Bond BGOV_ITA_BTP Unstable DownTrend about -0,7% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from 15% to -28%. BGOV_GERM_BUND Stable and aligned DownTrend about 0% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from -9% to -30%. BGOV_UK_GILT Unstable UpTrend about 0,7% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from -20% to 26%. BGOV_USA_Treasury Unstable UpTrend about 0,2% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from -14% to 14%. BGOV_Emerg_Mrkt Unstable UpTrend about 0,2% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from -4% to 4%. BOND_Corp_Europa Unstable UpTrend Take a Short Position with a Tactical Adjustment on portfolio composition from 8% to -8%. BOND_Corp_Usa Unstable UpTrend Take a Long Position with a Tactical Adjustment on portfolio composition from 27% to 10%. BOND_High_Yeld_GL Stable UpTrend Take a Long Position with a Tactical Adjustment on portfolio composition from 14% to 1%. Agricolture Stable UpTrend Take a Long Position with a Tactical Adjustment on portfolio composition from 9% to 26%. © MarkeTiming Research (ALL RIGHTS REDERVED) MarkeTiming Selection for the week of 5/4/2021 This Report is a rappresentative study of markets stance and does not constitute an investment advisory service. MARKET SELECTION weekly outlook TREND STABILITY PRIMARY TREND trend evolution VOLATILITY STANCE range evolution VOLATILITY DINAMIC volatility evolution TIMING RESISTENCE SUPPORT POWER Stability Trend Dynamic Timing Power LONG TERM MEDIUM TERM SHORT TERM 19/mar 26/mar 02/apr 19/mar 26/mar 02/apr 19/mar 26/mar 02/apr 02/apr 02/apr 02/apr Stocks FTSE_MIB_(ITALY) 20% 19% 6% 16,4% * 7,6% * 1,5% 7,6% 0,4% 0,8% 1,3% -2,0% 2,0% 1,8% 12,8% 1,8% 8,9% 7,5% CAC_40_(FRANCE) 17% 14% 26% 14,2% 6,2% 0,9% 5,5% -0,8% -0,2% 1,9% 5,1% -1,7% 2,0% 2,0% 3,3% -26,3% 13,0% 2,1% 1,2% 35,2% DAX_(GERMANY) 17% 22% 12% 12,6% 7,4% 2,0% * 8,5% * 0,8% 0,9% 2,4% 7,7% 2,7% 2,4% 2,4% 16,3% * -15,2% 23,6% * 15,1% FTSE_100_(UK) 7% 7,0% 1,8% 0,1% 1,6% -0,8% 0,5% 0,0% * 3,0% -2,2% 1,8% -1,3% * -16,6% -36,5% -6,6% Dow_ Jones_Ind_Av_(USA) 16% 14% 13,3% 6,1% 1,1% 5,4% -0,5% 1,4% * 0,2% 5,3% -2,2% 3,1% 1,1% 0,3% -22,2% 7,7% 9,5% Nasdaq_100_(USA) 8% 13% 27% 8,7% 0,9% 1,0% 5,3% -0,6% 0,9% 2,7% * 7,6% -4,5% 4,2% * 4,1% 5,3% 12,6% -3,3% 0,5% 38,2% Nikkei_225_(JAPAN) 15% 9% 15,1% 3,7% 0,3% 3,4% 0,2% -2,1% 2,3% 7,1% -2,9% -3,8% 2,4% -5,7% -2,3% -17,1% -1,8% Hang_Seng_(HONG KONG) 27% 7,8% 0,6% -0,5% -0,6% 0,9% * -2,3% * 2,1% -7,2% * 3,4% -5,7% 2,9% -17,8% -31,8% -39,6% * 3,4% 4,5% 33,4% Shanghai_Comp_(CHINA) 1,9% * -1,2% 0,7% -0,5% -1,4% 0,4% 1,9% -6,2% -2,6% 2,9% 2,2% -16,3% -6,5% -12,7% 2,4% BSE_Sensex_(INDIA) 21% 21% 14,5% 1,9% -0,7% * -0,7% * -1,8% -1,7% 2,1% -7,1% -4,5% -4,1% 3,1% -16,1% -8,6% -15,9% 24,8% * 29,6% RTSI_(RUSSIA) -31% 11,7% 2,6% -0,6% 1,3% -3,0% * -1,6% 1,2% 9,6% -6,2% * -4,6% 2,4% -21,0% * -40,7% * -4,0% -37,9% * Ibovespa_(BRAZIL) 9% -29% 3,0% -3,8% * 0,6% 3,5% 0,2% -1,1% 0,0% 11,8% * 5,6% * -6,5% * 5,4% * -7,6% 14,8% * -14,3% -35,3% -1,3% Currency & Comodity EUR/USD -23% -1,0% -2,6% -0,9% -1,3% -0,5% -0,9% -0,3% -2,4% -1,0% -1,6% -0,8% 3,1% 6,8% -14,7% 8,1% -0,4% Gold -77% 16% 51% -8,3% * -5,7% * -1,0% 2,0% * 1,1% -0,6% 0,0% 4,7% 2,1% -1,6% -3,3% -1,4% -11,2% -26,2% 6,2% 22,9% 65,6% Crude_Oil_WTI -61% 29,0% * 10,3% * -2,4% * -7,4% * -6,4% -1,0% 0,8% -16,8% -12,5% -7,7% 5,5% -22,0% -62,2% -7,1% 12,4% Natural_Gas -23% -51% -44% 4,6% -2,3% 2,1% * -2,8% -1,8% 0,6% 2,6% -21,8% -5,5% 4,3% 15,6% -25,0% -4,0% 20,5% -98,7% -12,0% -64,9% Agricolture -49% -5% 17,7% 5,7% -0,8% -0,9% 0,5% -1,2% 0,5% -4,7% 2,5% -2,1% 4,2% -12,0% 33,7% -17,4% -93,7% -8,5% Bond BGOV_ITA_BTP 15% -38% 0,9% -0,4% 0,0% 0,9% -0,3% 0,5% -0,1% 1,4% -1,0% 0,8% -1,0% -11,6% -57,4% -30,7% -64,4% BGOV_GERM_BUND -10% -13% -1,8% -1,4% -0,1% 0,0% -0,1% 0,5% -0,2% 0,9% -0,7% 0,7% -0,7% -20,9% -9,3% -8,9% -22,6% BGOV_UK_GILT -29% -11% 7% -5,4% * -3,7% * -0,4% * -0,6% * 0,1% 0,9% -0,7% -3,2% -2,2% 2,2% 1,3% -10,4% -17,5% 4,4% 5,3% 3,9% BGOV_USA_Treasury -23% -7% -21% -2% -4,6% -2,6% -0,2% -0,4% -0,2% 0,4% 0,0% -1,3% -0,8% 0,6% -0,5% 3,5% 17,6% 2,2% -35,1% -1,4% BGOV_Emerg_Mrkt -19% 10% -2,9% -3,1% -0,2% 0,6% 0,5% -1,3% 0,9% 1,9% 1,2% -1,1% 1,4% 5,3% -2,9% -1,0% BOND_Corp_Europa 8% 72% 0,2% -0,5% 0,1% 0,5% 0,0% 0,3% 0,3% 0,8% 0,5% 0,4% 0,6% 9,4% 7,0% -19,0% 6,8% 41,5% BOND_Corp_Usa 27% 10% 11% -3,3% -1,0% 1,2% * 1,6% * 0,0% 1,8% 1,1% 3,9% 1,5% 1,9% 1,5% 7,6% 7,8% 4,6% 17,9% 6,4% BOND_Corp_Emerg 9% 20% 0,7% 1,5% * 0,8% 1,2% 0,7% 0,6% 0,4% 2,1% 1,2% 1,7% -0,7% -14,7% -10,1% -12,1% -14,5% BOND_High_Yeld_GL 10% -18% -8% 1,8% * 0,7% 0,7% -0,2% -0,1% 0,9% 0,9% -2,8% -1,0% 1,4% 0,9% -10,7% -24,4% 5,3% -31,3% -4,7% © MarkeTiming Research (ALL RIGHTS REDERVED) MarkeTiming Selection for the week of 5/4/2021 Stocks FTSE_MIB_(ITALY) #VALORE! CAC_40_(FRANCE) Stable and aligned UpTrend about 5,5% in weekly progression. Bullish resistence over 6106. Increasing Volatility stance in a range of 1,9% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from 17% to -2%. DAX_(GERMANY) Stable and aligned UpTrend about 8,5% in weekly progression. Bullish resistence over 15110. Increasing Volatility stance in a range of 2,3% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from 20% to 0%. FTSE_100_(UK) Stable and aligned UpTrend Take a Short Position with a Tactical Adjustment on portfolio composition from 11% to -2%. Dow_ Jones_Ind_Av_(USA) Stable and aligned UpTrend about 5,3% in weekly progression. Bearish suppot under 32905. Reducing Volatility stance in a range of 1% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from 20% to -6%. Nasdaq_100_(USA) Stable UpTrend about 5,2% in weekly progression. Bullish resistence over 13333. Increasing Volatility stance in a range of 4% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 9% to 5%. Nikkei_225_(JAPAN) Stable and aligned UpTrend about 3,4% in weekly progression. Bullish resistence over 29869. Increasing Volatility stance in a range of 2,3% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 0% to 11%. Hang_Seng_(HONG KONG) Unstable DownTrend about -0,5% in weekly mitigation. Shanghai_Comp_(CHINA) Unstable DownTrend about -0,5% in weekly mitigation. Take a Long Position with a Tactical Adjustment on portfolio composition from -7% to 7%. BSE_Sensex_(INDIA) Unstable DownTrend about -0,7% in weekly mitigation. RTSI_(RUSSIA) Stable and aligned UpTrend about 1,3% in weekly progression. Bullish resistence over 1487. Reducing Volatility stance in a range of 2,3% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from 7% to -7%. Ibovespa_(BRAZIL) Unstable UpTrend Take a Long Position with a Tactical Adjustment on portfolio composition from 0% to 8%. Currency & Comodity EUR/USD Stable DownTrend about -1,3% in weekly progression. Bearish suppot under 1. Increasing Volatility stance in a range of -0,7% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from -61% to 50%. Gold Unstable UpTrend Take a Short Position with a Tactical Adjustment on portfolio composition from 0% to -30%. Crude_Oil_WTI Unstable DownTrend about -7,4% in weekly mitigation. Take a Short Position with a Tactical Adjustment on portfolio composition from 0% to -60%. Natural_Gas Unstable DownTrend about -2,7% in weekly mitigation. Take a Long Position with a Tactical Adjustment on portfolio composition from -76% to 53%. BOND_Corp_Emerg Unstable DownTrend about -0,9% in weekly mitigation. Bond BGOV_ITA_BTP Unstable UpTrend Take a Short Position with a Tactical Adjustment on portfolio composition from 16% to -1%. BGOV_GERM_BUND Unstable UpTrend Take a Short Position with a Tactical Adjustment on portfolio composition from 0% to -9%. BGOV_UK_GILT Stable and aligned DownTrend about -0,6% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from 18% to -29%. BGOV_USA_Treasury Stable and aligned DownTrend Take a Long Position with a Tactical Adjustment on portfolio composition from -32% to 17%. BGOV_Emerg_Mrkt Unstable UpTrend about 0,5% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from -26% to 21%. BOND_Corp_Europa Unstable UpTrend about 0,4% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from 0% to 8%. BOND_Corp_Usa Unstable UpTrend about 1,5% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from 11% to 16%. BOND_High_Yeld_GL Stable UpTrend about 1,1% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from 17% to -3%. Agricolture Unstable DownTrend about -0,1% in weekly mitigation. Take a Long Position with a Tactical Adjustment on portfolio composition from 0% to 9%. © MarkeTiming Research (ALL RIGHTS REDERVED) MarkeTiming Selection for the week of 29/3/2021 This Report is a rappresentative study of markets stance and does not constitute an investment advisory service. MARKET SELECTION weekly outlook TREND STABILITY PRIMARY TREND trend evolution VOLATILITY STANCE range evolution VOLATILITY DINAMIC volatility evolution TIMING RESISTENCE SUPPORT POWER Stability Trend Dynamic Timing Power LONG TERM MEDIUM TERM SHORT TERM 12/mar 19/mar 26/mar 12/mar 19/mar 26/mar 12/mar 19/mar 26/mar 26/mar 26/mar 26/mar Stocks FTSE_MIB_(ITALY) 27% 19% 11% 15,0% * 6,5% * 1,3% 6,8% 5,0% * 0,4% 0,8% 6,9% 4,8% -2,0% 2,0% 3,9% 47,6% 1,8% 8,9% 4,9% CAC_40_(FRANCE) 21% 14% 10% 27% 12,5% 4,8% 0,0% 5,0% 4,6% -0,8% -0,2% 5,6% 4,1% -1,7% 2,0% -1,7% 28,7% -26,3% 13,0% 12,1% DAX_(GERMANY) 20% 20% 17% 33% 10,4% 5,6% 1,2% 7,0% * 4,2% 0,8% 0,9% 6,5% 4,3% 2,7% 2,4% 8,2% * 90,1% * -15,2% 23,6% * 14,9% FTSE_100_(UK) 11% 6,5% 1,5% -0,2% 4,0% 2,0% -0,8% 0,5% 4,9% 2,6% -2,2% 1,8% -15,2% 3,4% -36,5% -6,6% -0,7% Dow_ Jones_Ind_Av_(USA) 22% 20% 12,3% 5,3% 1,0% 6,9% 4,2% -0,5% 1,4% * 8,3% 3,9% -2,2% 3,1% -4,1% 15,6% -22,2% 7,7% Nasdaq_100_(USA) 10% 4% 8,1% 0,2% 0,1% 0,5% 2,2% -0,6% 0,9% -8,4% * 6,0% -4,5% 4,2% * 3,7% 12,6% -3,3% 1,8% Nikkei_225_(JAPAN) -13% 13,9% 2,8% -1,2% 0,7% 3,0% 0,2% -2,1% -7,4% 3,9% -2,9% -3,8% -7,9% 5,9% -2,3% -17,1% Hang_Seng_(HONG KONG) -29% 7,4% 0,3% -1,9% -2,2% -1,2% 0,9% * -2,3% * -8,2% -4,2% 3,4% -5,7% -13,9% -20,8% -31,8% -39,6% * Shanghai_Comp_(CHINA) -7% -9% 0,8% * -2,5% -1,2% -2,6% * -1,4% * -1,4% 0,4% -7,2% -6,2% * -2,6% 2,9% -9,6% -31,5% -6,5% -12,7% BSE_Sensex_(INDIA) -12% -5% 14,9% 2,0% -1,5% -0,2% 0,8% -1,8% -1,7% -7,1% 2,9% -4,5% -4,1% -22,9% * -87,1% * -8,6% -15,9% -2,1% RTSI_(RUSSIA) 8% -21% 10,4% 1,8% -1,9% * 2,7% 5,0% -3,0% * -1,6% 9,6% 6,4% -6,2% * -4,6% -7,6% 16,9% -40,7% * -4,0% -9,4% Ibovespa_(BRAZIL) -10% 4,0% -2,9% * 2,7% * 1,4% 4,5% 0,2% -1,1% 13,3% * 9,2% * 5,6% * -6,5% * 4,6% 0,8% 14,8% * -14,3% Currency & Comodity EUR/USD -100% -24% -19% -67% -0,1% -1,9% -0,7% -2,3% 0,4% -0,5% -0,9% -2,9% 1,3% -1,0% -1,6% 0,3% -5,3% 6,8% -14,7% -1,2% -29,9% Gold -33% -6,9% * -4,6% 0,5% * 0,1% * 1,6% 1,1% -0,6% -4,8% 3,7% 2,1% -1,6% -8,3% 1,7% -11,2% -26,2% -4,8% Crude_Oil_WTI -18% 28,8% * 10,9% * -4,2% * -1,3% -0,9% -6,4% -1,0% -16,7% -7,3% -12,5% -7,7% -17,4% -15,1% -62,2% -7,1% -8,6% Natural_Gas -76% 26% 1,7% -6,1% * -3,2% -7,4% * -4,1% -1,8% 0,6% -17,3% -5,6% -5,5% 4,3% -3,3% -17,7% -4,0% 20,5% 1,1% Agricolture -22% -15% 19,7% 7,4% -0,2% -0,2% -0,7% 0,5% -1,2% -3,5% -2,6% 2,5% -2,1% 15,3% 30,4% 33,7% -17,4% -6,8% Bond BGOV_ITA_BTP 16% -43% 1,2% * -0,2% 0,3% 1,1% 0,8% -0,3% 0,5% 1,6% 1,4% -1,0% 0,8% -7,4% 57,0% -57,4% -30,7% BGOV_GERM_BUND -13% -1,5% -1,2% 0,1% 0,4% -0,1% -0,1% 0,5% 0,9% 0,6% -0,7% 0,7% -23,5% -47,9% -9,3% -8,9% BGOV_UK_GILT 19% -4,9% * -3,3% 0,1% 1,2% -0,9% 0,1% 0,9% 3,2% -2,1% -2,2% 2,2% -9,2% -18,3% -17,5% 4,4% 1,1% BGOV_USA_Treasury -46% -20% -4,5% -2,7% -0,2% -1,3% * -0,6% -0,2% 0,4% -1,7% -0,8% -0,8% 0,6% 6,2% 17,6% 2,2% 5,6% BGOV_Emerg_Mrkt -45% -8% -26% -3,2% -3,5% * -0,4% -0,5% 0,5% 0,5% -1,3% -2,3% 1,8% 1,2% -1,1% -7,0% -27,6% -2,9% -3,5% -36,4% BOND_Corp_Europa -27% 28% 0,2% -0,6% 0,1% 0,4% -0,1% 0,0% 0,3% 0,7% 0,5% 0,5% 0,4% 10,1% 33,6% 7,0% -19,0% 44,0% BOND_Corp_Usa 11% 21% -4,6% -2,4% 0,2% 0,7% -1,4% 0,0% 1,8% 3,5% -2,0% 1,5% 1,9% 4,6% 3,6% 7,8% 4,6% -2,8% 34,9% BOND_Corp_Emerg 9% 27% -17% -8% 0,1% 0,8% * 0,6% * 1,8% * -0,5% 0,7% 0,6% 2,4% -1,0% 1,2% 1,7% -17,5% -37,3% -10,1% -12,1% -12,8% BOND_High_Yeld_GL 17% 0,8% -0,3% -0,4% * -0,3% -1,8% -0,1% 0,9% -2,8% -2,6% -1,0% 1,4% -3,9% -3,1% -24,4% 5,3% -2,2% 28,0% © MarkeTiming Research (ALL RIGHTS REDERVED) MarkeTiming Selection for the week of 29/3/2021 Stocks FTSE_MIB_(ITALY) Stable and aligned UpTrend about 6,7% in weekly progression. Bearish suppot under 23934. Increasing Volatility stance in a range of 2% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 13% to 10%. CAC_40_(FRANCE) Stable and aligned UpTrend Take a Long Position with a Tactical Adjustment on portfolio composition from 11% to 5%. DAX_(GERMANY) Stable and aligned UpTrend about 6,9% in weekly progression. Bearish suppot under 14422. Increasing Volatility stance in a range of 2,4% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 10% to 9%. FTSE_100_(UK) Stable and aligned UpTrend about 3,9% in weekly progression. Bearish suppot under 6618. Increasing Volatility stance in a range of 1,8% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 4% to 0%. Dow_ Jones_Ind_Av_(USA) Stable and aligned UpTrend about 6,9% in weekly progression. Bearish suppot under 32071. Increasing Volatility stance in a range of 3,1% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 10% to 9%. Nasdaq_100_(USA) Stable and aligned UpTrend about 0,5% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from -2% to 7%. Nikkei_225_(JAPAN) Stable and aligned UpTrend Take a Short Position with a Tactical Adjustment on portfolio composition from 6% to -6%. Hang_Seng_(HONG KONG) Unstable DownTrend about -2,2% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from -12% to 12%. Shanghai_Comp_(CHINA) Unstable DownTrend about -2,5% in weekly mitigation. Take a Long Position with a Tactical Adjustment on portfolio composition from -18% to 10%. BSE_Sensex_(INDIA) Unstable DownTrend about -0,1% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from -4% to 4%. RTSI_(RUSSIA) Stable and aligned UpTrend Take a Short Position with a Tactical Adjustment on portfolio composition from 15% to -4%. Ibovespa_(BRAZIL) Unstable UpTrend Take a Long Position with a Tactical Adjustment on portfolio composition from -10% to 10%. Currency & Comodity EUR/USD Stable DownTrend about -2,3% in weekly progression. Bullish resistence over 1. Increasing Volatility stance in a range of -1,5% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from -6% to -58%. Gold Unstable UpTrend Take a Long Position with a Tactical Adjustment on portfolio composition from -9% to 9%. Crude_Oil_WTI Unstable DownTrend about -1,2% in weekly progression. Bullish resistence over 62. Increasing Volatility stance in a range of -7,7% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from 36% to -36%. Natural_Gas Unstable DownTrend about -7,4% in weekly mitigation. Take a Short Position with a Tactical Adjustment on portfolio composition from -62% to -13%. BOND_Corp_Emerg Unstable DownTrend about -0,2% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from 19% to -19%. Bond BGOV_ITA_BTP Unstable UpTrend about 1% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from 0% to 16%. BGOV_GERM_BUND Unstable UpTrend about 0,4% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from -8% to 8%. BGOV_UK_GILT Unstable UpTrend about 1,2% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from -19% to 29%. BGOV_USA_Treasury Stable and aligned DownTrend about -1,3% in weekly mitigation. Take a Short Position with a Tactical Adjustment on portfolio composition from -21% to -10%. BGOV_Emerg_Mrkt Stable DownTrend about -0,5% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from -17% to -9%. BOND_Corp_Europa Unstable UpTrend about 0,3% in weekly progression. BOND_Corp_Usa Unstable UpTrend about 0,7% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from -26% to 32%. BOND_High_Yeld_GL Stable UpTrend about 1,7% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from 0% to 17%. Agricolture Unstable DownTrend about -0,2% in weekly mitigation. Take a Long Position with a Tactical Adjustment on portfolio composition from -20% to 20%. © MarkeTiming Research (ALL RIGHTS REDERVED) MarkeTiming Selection for the week of 22/3/2021 This Report is a rappresentative study of markets stance and does not constitute an investment advisory service. MARKET SELECTION weekly outlook TREND STABILITY PRIMARY TREND trend evolution VOLATILITY STANCE range evolution VOLATILITY DINAMIC volatility evolution TIMING RESISTENCE SUPPORT POWER Stability Trend Dynamic Timing Power LONG TERM MEDIUM TERM SHORT TERM 05/mar 12/mar 19/mar 05/mar 12/mar 19/mar 05/mar 12/mar 19/mar 19/mar 19/mar 19/mar Stocks FTSE_MIB_(ITALY) 16% 11% 13% 16,0% 7,6% 2,9% 4,6% * 0,5% 5,0% * 0,4% 7,7% -2,4% 4,8% -2,0% -3,3% -12,7% 47,6% 1,8% 13,2% CAC_40_(FRANCE) 14% 9% -17% -1% 15,0% 7,1% 2,5% 3,9% 1,4% 4,6% -0,8% 6,8% 2,0% 4,1% -1,7% -7,5% -16,9% 28,7% -26,3% -1,1% DAX_(GERMANY) 11% 10% -12% 10,8% 6,1% 2,5% 4,5% 1,0% 4,2% 0,8% 8,0% -2,3% 4,3% 2,7% -4,9% -20,7% 90,1% * -15,2% -11,9% FTSE_100_(UK) 7% 3% -23% 7,8% 2,8% 1,2% 1,3% 2,3% 2,0% -0,8% 5,2% 3,4% 2,6% -2,2% -14,3% -11,7% 3,4% -36,5% Dow_ Jones_Ind_Av_(USA) 14% 8% -14% 13,8% 6,7% 2,7% 3,6% 1,7% 4,2% -0,5% 8,3% 3,6% 3,9% -2,2% 1,6% -14,3% 15,6% -22,2% Nasdaq_100_(USA) 6% -12% 2% 9,4% 1,1% 0,4% -5,3% -1,9% 2,2% -0,6% -9,5% -8,4% 6,0% -4,5% 6,5% * -0,6% 2,3% Nikkei_225_(JAPAN) 16% -2% 18,4% * 6,9% 1,3% -0,8% -0,4% 3,0% 0,2% -7,3% -5,7% 3,9% -2,9% -12,3% -11,8% 5,9% -2,3% Hang_Seng_(HONG KONG) -12% -20% 10,5% 3,2% -0,8% -5,4% 0,4% -1,2% 0,9% * -9,2% -4,7% -4,2% 3,4% -11,0% 13,7% -20,8% -31,8% Shanghai_Comp_(CHINA) -18% 2,2% * -1,4% -1,5% * -7,9% * -0,2% -1,4% * -1,4% -11,0% -3,4% -6,2% * -2,6% -14,0% 2,1% -31,5% -6,5% BSE_Sensex_(INDIA) -5% -8% 17,5% 4,0% -0,6% -2,0% 2,7% * 0,8% -1,8% -6,4% 4,1% * 2,9% -4,5% -25,7% * -22,8% * -87,1% * -8,6% -8,1% RTSI_(RUSSIA) 16% -26% -38% 16,3% 7,7% * 3,0% * 0,1% 2,5% 5,0% -3,0% * 10,3% * 4,0% 6,4% -6,2% * -7,6% 15,8% 16,9% -40,7% * -0,9% -36,1% Ibovespa_(BRAZIL) -10% 25% 3,1% -3,5% * 1,6% -4,5% -2,0% * 4,5% 0,2% -15,8% * -8,7% * 9,2% * 5,6% * -12,0% 23,8% * 0,8% 14,8% * 24,1% Currency & Comodity EUR/USD -6% 0,8% -1,1% -0,6% -1,8% -1,3% 0,4% -0,5% -3,4% -1,8% 1,3% -1,0% 0,9% 0,9% -5,3% 6,8% Gold -12% -8% -10% -6,8% * -4,9% -0,2% -2,2% -1,9% 1,6% 1,1% -8,1% -4,2% 3,7% 2,1% -12,6% -4,5% 1,7% -11,2% Crude_Oil_WTI 58% 15% -58% -87% 38,1% * 19,8% * 0,5% * 4,0% * 7,5% -0,9% -6,4% 15,0% 11,3% -7,3% -12,5% -9,9% 16,1% -15,1% -62,2% 3,2% -43,2% Natural_Gas -63% -3% 1,5% -7,7% * -6,7% * -17,1% * -2,3% -4,1% -1,8% -19,6% -7,2% -5,6% -5,5% -11,3% -12,0% -17,7% -4,0% -1,2% Agricolture 30% 8% 31% 11% 21,3% 9,0% 0,5% 2,1% 1,2% -0,7% 0,5% 4,2% 2,1% -2,6% 2,5% 13,9% 42,9% 30,4% 33,7% 4,9% Bond BGOV_ITA_BTP -58% -39% 1,2% * -0,4% 0,2% -0,5% 0,1% 0,8% -0,3% -1,9% -1,5% 1,4% -1,0% -9,2% -39,3% 57,0% -57,4% -9,7% -33,3% BGOV_GERM_BUND -9% -36% -1,8% -1,6% -0,1% -0,3% 0,2% -0,1% -0,1% -0,9% -0,5% 0,6% -0,7% -13,5% -35,2% -47,9% -9,3% 1,5% -40,5% BGOV_UK_GILT -26% -14% -18% -5,7% -4,1% * -0,4% -1,3% 1,2% -0,9% 0,1% -3,1% 2,4% -2,1% -2,2% -15,7% 15,4% -18,3% -17,5% BGOV_USA_Treasury -23% -21% -4,9% -3,2% -0,7% -2,0% -0,9% -0,6% -0,2% -2,3% -0,9% -0,8% -0,8% -3,9% -4,8% BGOV_Emerg_Mrkt -15% -20% -2,7% -3,0% 0,0% -1,9% -0,2% 0,5% 0,5% -3,3% -1,8% 1,8% 1,2% -17,4% -2,9% -27,6% -2,9% BOND_Corp_Europa 0,0% -0,8% -0,1% -0,3% 0,2% -0,1% 0,0% -0,8% 0,5% 0,5% 0,5% 2,0% 5,9% 33,6% 7,0% 1,7% BOND_Corp_Usa -28% -25% -5,9% * -3,9% -1,0% -2,4% * 0,2% -1,4% 0,0% -3,5% -1,5% -2,0% 1,5% 4,0% 3,6% 7,8% 9,7% BOND_Corp_Emerg -0,6% 0,1% * 0,4% * 0,6% * 1,0% -0,5% 0,7% 2,7% 1,3% -1,0% 1,2% -20,4% -26,5% -37,3% -10,1% -8,3% BOND_High_Yeld_GL -20% -25% -25% 0,4% -0,6% -1,0% * -1,9% 0,8% -1,8% -0,1% -2,8% 0,8% -2,6% -1,0% -11,6% -3,1% -24,4% -1,5% -26,3% © MarkeTiming Research (ALL RIGHTS REDERVED) MarkeTiming Selection for the week of 22/3/2021 Stocks FTSE_MIB_(ITALY) Stable and aligned UpTrend about 4,5% in weekly progression. Bearish suppot under 23967. Increasing Volatility stance in a range of -2% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 10% to 2%. CAC_40_(FRANCE) Stable and aligned UpTrend Take a Short Position with a Tactical Adjustment on portfolio composition from 13% to -1%. DAX_(GERMANY) Stable and aligned UpTrend about 4,4% in weekly progression. Bearish suppot under 14409. Increasing Volatility stance in a range of 2,6% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 9% to 1%. FTSE_100_(UK) Stable and aligned UpTrend Take a Short Position with a Tactical Adjustment on portfolio composition from 6% to -1%. Dow_ Jones_Ind_Av_(USA) Stable and aligned UpTrend Take a Long Position with a Tactical Adjustment on portfolio composition from 10% to 0%. Nasdaq_100_(USA) Unstable DownTrend about -5,2% in weekly progression. Bearish suppot under 12704. Increasing Volatility stance in a range of -4,5% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from -13% to 3%. Nikkei_225_(JAPAN) Unstable DownTrend about -0,7% in weekly mitigation. Take a Long Position with a Tactical Adjustment on portfolio composition from 1% to 6%. Hang_Seng_(HONG KONG) Unstable DownTrend about -5,3% in weekly mitigation. Take a Short Position with a Tactical Adjustment on portfolio composition from -10% to -2%. Shanghai_Comp_(CHINA) Unstable DownTrend about -7,8% in weekly progression. Bearish suppot under 3389. Reducing Volatility stance in a range of -2,5% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from -11% to -6%. BSE_Sensex_(INDIA) Unstable DownTrend about -2% in weekly progression. Bullish resistence over 50857. Increasing Volatility stance in a range of -4,4% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from 7% to -9%. RTSI_(RUSSIA) Stable and aligned UpTrend Take a Short Position with a Tactical Adjustment on portfolio composition from 11% to -3%. Ibovespa_(BRAZIL) Unstable DownTrend about -4,4% in weekly mitigation. Take a Long Position with a Tactical Adjustment on portfolio composition from -9% to 4%. Currency & Comodity EUR/USD Unstable DownTrend about -1,7% in weekly progression. Bullish resistence over 1. Increasing Volatility stance in a range of -0,9% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from -4% to -2%. Gold Stable and aligned DownTrend about -2,2% in weekly mitigation. Take a Long Position with a Tactical Adjustment on portfolio composition from -15% to 5%. Crude_Oil_WTI Stable and aligned UpTrend Take a Short Position with a Tactical Adjustment on portfolio composition from 45% to -9%. Natural_Gas Unstable DownTrend about -17,1% in weekly progression. Bearish suppot under 2. Increasing Volatility stance in a range of -5,5% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from -34% to -28%. BOND_Corp_Emerg Stable and aligned UpTrend about 2,1% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from 20% to -1%. Bond BGOV_ITA_BTP Unstable DownTrend about -0,4% in weekly progression. BGOV_GERM_BUND Stable and aligned DownTrend about -0,3% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from -9% to 0%. BGOV_UK_GILT Stable and aligned DownTrend about -1,2% in weekly mitigation. Take a Long Position with a Tactical Adjustment on portfolio composition from -23% to 4%. BGOV_USA_Treasury Stable and aligned DownTrend about -1,9% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from -20% to -1%. BGOV_Emerg_Mrkt Stable DownTrend about -1,8% in weekly mitigation. Take a Long Position with a Tactical Adjustment on portfolio composition from -25% to 7%. BOND_Corp_Europa Unstable DownTrend about -0,3% in weekly progression. BOND_Corp_Usa Stable and aligned DownTrend about -2,4% in weekly mitigation. Take a Short Position with a Tactical Adjustment on portfolio composition from -25% to 0%. BOND_High_Yeld_GL Unstable UpTrend about 0,5% in weekly progression. Agricolture Unstable DownTrend about -1,9% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from 0% to -20%. © MarkeTiming Research (ALL RIGHTS REDERVED) MarkeTiming Selection for the week of 15/3/2021 This Report is a rappresentative study of markets stance and does not constitute an investment advisory service. MARKET SELECTION weekly outlook TREND STABILITY PRIMARY TREND trend evolution VOLATILITY STANCE range evolution VOLATILITY DINAMIC volatility evolution TIMING RESISTENCE SUPPORT POWER Stability Trend Dynamic Timing Power LONG TERM MEDIUM TERM SHORT TERM 26/feb 05/mar 12/mar 26/feb 05/mar 12/mar 26/feb 05/mar 12/mar 12/mar 12/mar 12/mar Stocks FTSE_MIB_(ITALY) 15% 6% 16% 23% 14,6% 6,9% 2,3% 3,0% -1,2% 0,5% 5,0% * 6,8% -2,8% -2,4% 4,8% -10,4% -19,9% -12,7% 47,6% 24,2% 59,2% CAC_40_(FRANCE) 14% 13% 9% 20% 13,8% 6,4% 2,1% 6,0% * -1,2% * 1,4% 4,6% 6,1% -2,5% * 2,0% 4,1% 3,3% -3,4% -16,9% 28,7% 11,5% 62,4% DAX_(GERMANY) 12% 7% 29% 18% 9,9% 5,7% 2,3% * 3,2% -1,5% 1,0% 4,2% 6,6% -2,8% -2,3% 4,3% -0,3% -15,6% -20,7% 90,1% * 16,6% 51,4% FTSE_100_(UK) 7% 6% 7,2% 2,7% 0,8% 2,6% -2,1% 2,3% 2,0% 5,0% -3,6% 3,4% 2,6% 2,6% -8,9% -11,7% 3,4% Dow_ Jones_Ind_Av_(USA) 12% 9% 17% 12,1% 5,3% 1,7% 4,2% -1,8% 1,7% 4,2% 7,0% -3,5% 3,6% 3,9% 13,4% * 17,9% * -14,3% 15,6% 7,0% 56,7% Nasdaq_100_(USA) -13% 8,4% 0,1% -2,5% -6,2% * -4,9% -1,9% 2,2% -12,6% -5,2% -8,4% 6,0% 5,8% 7,3% -0,6% -0,9% Nikkei_225_(JAPAN) 1% 16,0% 5,1% -1,7% 0,7% -3,5% -0,4% 3,0% 8,1% * -4,9% -5,7% 3,9% -1,1% -26,7% -11,8% 5,9% -10,0% Hang_Seng_(HONG KONG) -10% -7% 10,7% 3,6% -2,4% -4,8% -5,4% 0,4% -1,2% -9,5% -6,8% -4,7% -4,2% -0,8% -22,2% 13,7% -20,8% Shanghai_Comp_(CHINA) -12% -10% 2,1% -1,7% -3,6% -5,5% -5,1% -0,2% -1,4% * -11,3% -6,0% -3,4% -6,2% * -11,5% -36,2% 2,1% -31,5% -12,0% BSE_Sensex_(INDIA) 18% -3% -28% 21,0% * 7,1% * 0,5% -1,5% -3,5% 2,7% * 0,8% -7,1% -4,9% 4,1% * 2,9% -35,5% * -28,9% -22,8% * -87,1% * RTSI_(RUSSIA) 14% 8% 21% 14,0% 6,5% 1,0% 3,9% -4,1% 2,5% 5,0% 8,0% -4,7% 4,0% 6,4% 0,3% -5,9% 15,8% 16,9% 5,6% 73,5% Ibovespa_(BRAZIL) -8% -11% -0,9% * -6,8% * -4,0% * -5,2% -6,9% * -2,0% * 4,5% -17,1% * -8,6% * -8,7% * 9,2% * -17,8% -98,4% * 23,8% * 0,8% 0,3% Currency & Comodity EUR/USD -4% 0,8% -1,2% -1,1% -1,3% -0,4% -1,3% 0,4% -3,4% -1,5% -1,8% 1,3% -12,9% -2,1% 0,9% -5,3% Gold -14% -16% -8,1% * -6,8% * -2,3% -5,3% -2,9% -1,9% 1,6% -8,7% -5,5% -4,2% 3,7% -13,3% -22,4% -4,5% 1,7% Crude_Oil_WTI 60% 31% -24% -72% 44,0% * 26,3% * 4,4% * 10,1% * 4,3% 7,5% -0,9% 14,8% 7,8% 11,3% -7,3% 4,8% 11,1% 16,1% -15,1% -12,6% Natural_Gas -34% -28% -17% 8,2% -3,1% -6,5% * -11,1% * -9,9% -2,3% -4,1% -25,2% -9,2% -7,2% -5,6% -4,5% -12,0% -17,7% -3,0% Agricolture 27% 14% 48% -11% 22,2% 10,1% 1,3% 4,4% 1,2% 1,2% -0,7% 7,5% 3,7% 2,1% -2,6% -0,6% -12,2% 42,9% 30,4% -1,9% Bond BGOV_ITA_BTP 26% 1,2% -0,6% -0,1% -1,0% -1,1% 0,1% 0,8% -2,3% -1,6% -1,5% 1,4% -12,6% -22,6% -39,3% 57,0% -5,1% BGOV_GERM_BUND -9% -22% -36% -1,7% -1,7% -0,1% -1,0% -0,3% 0,2% -0,1% -1,2% -0,9% -0,5% 0,6% -13,7% 36,2% -35,2% -47,9% -46,9% BGOV_UK_GILT -23% -25% -8% -5,0% -3,6% * 0,0% -3,2% -1,6% 1,2% -0,9% -3,4% -2,6% 2,4% -2,1% -6,3% -21,6% 15,4% -18,3% BGOV_USA_Treasury -22% -20% -4,5% -3,0% -0,7% -2,5% -0,3% -0,9% -0,6% -2,8% -1,8% -0,9% -0,8% -13,6% -19,6% -4,8% BGOV_Emerg_Mrkt -22% -28% -12% -3,3% -3,6% -1,3% * -3,6% * -2,7% -0,2% 0,5% -5,2% -3,0% -1,8% 1,8% -21,7% -38,2% -2,9% -27,6% BOND_Corp_Europa 15% 0,2% -0,8% -0,2% -0,6% -0,4% 0,2% -0,1% -1,1% -0,8% 0,5% 0,5% -2,7% -15,1% 5,9% 33,6% 2,0% BOND_Corp_Usa -24% -27% -9% -5,1% * -3,2% -0,7% -3,5% -1,3% 0,2% -1,4% -4,0% -2,3% -1,5% -2,0% 4,2% 3,1% -11,6% BOND_Corp_Emerg -17% -0,7% 0,0% 0,4% * -0,5% * -0,6% 1,0% -0,5% -2,5% -1,7% 1,3% -1,0% -17,4% -20,9% -26,5% -37,3% -2,2% BOND_High_Yeld_GL -56% 1,7% * 0,7% * -0,3% -1,7% -0,8% 0,8% -1,8% -2,6% -1,2% 0,8% -2,6% -12,7% -14,8% 0,9% -74,3% © MarkeTiming Research (ALL RIGHTS REDERVED) MarkeTiming Selection for the week of 15/3/2021 Stocks FTSE_MIB_(ITALY) Stable and aligned UpTrend about 3% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from -1% to 11%. CAC_40_(FRANCE) Stable and aligned UpTrend about 6% in weekly progression. Bullish resistence over 6046. Increasing Volatility stance in a range of 4,1% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from 23% to -10%. DAX_(GERMANY) Stable and aligned UpTrend about 3,2% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from 10% to -1%. FTSE_100_(UK) Stable and aligned UpTrend about 2,6% in weekly progression. Bullish resistence over 6786. Increasing Volatility stance in a range of 2,5% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 8% to 2%. Dow_ Jones_Ind_Av_(USA) Stable and aligned UpTrend about 4,2% in weekly progression. Bullish resistence over 32790. Increasing Volatility stance in a range of 3,9% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 4% to 8%. Nasdaq_100_(USA) Unstable DownTrend about -6,2% in weekly mitigation. Take a Long Position with a Tactical Adjustment on portfolio composition from -26% to 12%. Nikkei_225_(JAPAN) Stable and aligned UpTrend about 0,6% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from 0% to 1%. Hang_Seng_(HONG KONG) Unstable DownTrend about -4,7% in weekly progression. Bullish resistence over 29550. Increasing Volatility stance in a range of -4,1% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from -2% to -7%. Shanghai_Comp_(CHINA) Unstable DownTrend about -5,5% in weekly progression. Bullish resistence over 3542. Increasing Volatility stance in a range of -6,1% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from 0% to -11%. BSE_Sensex_(INDIA) Unstable DownTrend about -1,4% in weekly mitigation. Take a Long Position with a Tactical Adjustment on portfolio composition from -2% to 8%. RTSI_(RUSSIA) Stable and aligned UpTrend about 3,9% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from 4% to 8%. Ibovespa_(BRAZIL) Stable DownTrend about -5,2% in weekly mitigation. Take a Long Position with a Tactical Adjustment on portfolio composition from -36% to 27%. Currency & Comodity EUR/USD Unstable DownTrend about -1,3% in weekly mitigation. Take a Short Position with a Tactical Adjustment on portfolio composition from 0% to -4%. Gold Stable and aligned DownTrend about -5,3% in weekly mitigation. Take a Long Position with a Tactical Adjustment on portfolio composition from -17% to 2%. Crude_Oil_WTI Stable and aligned UpTrend Take a Short Position with a Tactical Adjustment on portfolio composition from 52% to -6%. Natural_Gas Unstable DownTrend about -11% in weekly progression. Bullish resistence over 2. Reducing Volatility stance in a range of -5,5% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from -18% to -15%. BOND_Corp_Emerg Stable and aligned UpTrend Take a Short Position with a Tactical Adjustment on portfolio composition from 20% to 0%. Bond BGOV_ITA_BTP Unstable DownTrend about -1% in weekly mitigation. BGOV_GERM_BUND Stable and aligned DownTrend about -1% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from -8% to 0%. BGOV_UK_GILT Stable and aligned DownTrend about -3,1% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from -23% to 0%. BGOV_USA_Treasury Stable and aligned DownTrend about -2,5% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from -18% to -2%. BGOV_Emerg_Mrkt Stable DownTrend about -3,6% in weekly mitigation. Take a Long Position with a Tactical Adjustment on portfolio composition from -27% to 2%. BOND_Corp_Europa Unstable DownTrend about -0,6% in weekly progression. BOND_Corp_Usa Stable and aligned DownTrend about -3,5% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from -22% to -3%. BOND_High_Yeld_GL Stable and aligned DownTrend about -0,4% in weekly progression. Agricolture Unstable DownTrend about -1,6% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from 8% to -8%. © MarkeTiming Research (ALL RIGHTS REDERVED) MarkeTiming Selection for the week of 8/3/2021 This Report is a rappresentative study of markets stance and does not constitute an investment advisory service. MARKET SELECTION weekly outlook TREND STABILITY PRIMARY TREND trend evolution VOLATILITY STANCE range evolution VOLATILITY DINAMIC volatility evolution TIMING RESISTENCE SUPPORT POWER Stability Trend Dynamic Timing Power LONG TERM MEDIUM TERM SHORT TERM 19/feb 26/feb 05/mar 19/feb 26/feb 05/mar 19/feb 26/feb 05/mar 05/mar 05/mar 05/mar Stocks FTSE_MIB_(ITALY) -2% 8% 11,8% 5,0% -0,3% -0,5% -1,2% -1,2% 0,5% -4,4% -3,4% -2,8% -2,4% -11,1% -18,4% -19,9% -12,7% 6,8% CAC_40_(FRANCE) 39% 8% -13% 11,5% 5,1% 0,8% * 2,2% * 1,2% -1,2% * 1,4% 4,2% 1,4% -2,5% * 2,0% -2,1% 13,1% -3,4% -16,9% -1,7% DAX_(GERMANY) 26% -4% -16% 7% 7,3% 3,8% 0,2% -1,0% -0,4% -1,5% 1,0% -3,8% -2,0% -2,8% -2,3% -18,8% -1,4% -15,6% -20,7% 5,4% FTSE_100_(UK) 8% 63% 5,8% 2,1% 0,0% 2,2% 0,5% -2,1% 2,3% 5,0% 3,1% -3,6% 3,4% 3,6% 39,6% -8,9% -11,7% 8,4% 44,0% Dow_ Jones_Ind_Av_(USA) 4% -11% 9% 9,6% 3,4% -0,5% 1,1% 0,1% -1,8% 1,7% 4,6% 1,1% -3,5% 3,6% 10,4% * 42,6% * 17,9% * -14,3% 7,8% Nasdaq_100_(USA) -26% 13% 9,9% 1,5% -3,5% -6,8% -1,6% * -4,9% -1,9% -12,4% -2,9% -5,2% -8,4% -0,7% 10,2% 7,3% -0,6% 10,8% Nikkei_225_(JAPAN) 17,6% 7,0% -1,4% 0,3% 1,7% * -3,5% -0,4% 8,0% * 3,5% -4,9% -5,7% 4,6% 39,0% -26,7% -11,8% -2,9% Hang_Seng_(HONG KONG) -3% 11% 12,6% 5,7% -2,1% -0,7% 1,6% -5,4% 0,4% -8,8% 4,4% * -6,8% -4,7% 2,9% 14,4% -22,2% 13,7% Shanghai_Comp_(CHINA) 5,6% 1,5% -2,1% 0,2% 1,1% -5,1% -0,2% -7,6% 3,2% -6,0% -3,4% -1,8% -2,8% -36,2% 2,1% 2,8% BSE_Sensex_(INDIA) -2% -18% 20,8% * 7,2% * -0,9% -0,6% -1,3% -3,5% 2,7% * -7,1% -3,6% -4,9% 4,1% * -23,5% -29,1% -28,9% -22,8% * RTSI_(RUSSIA) 4% 12% 11,9% 5,7% -0,8% 1,1% 0,7% -4,1% 2,5% 7,3% -4,6% * -4,7% 4,0% 2,5% -12,7% -5,9% 15,8% 0,9% Ibovespa_(BRAZIL) -35% -38% 19% -1,5% * -6,9% * -7,1% * -9,7% * -0,7% -6,9% * -2,0% * -17,8% * -2,2% -8,6% * -8,7% * -27,1% * -36,9% * -98,4% * 23,8% * 0,5% Currency & Comodity EUR/USD -35% 1,9% -0,1% -0,5% -1,1% 0,0% -0,4% -1,3% -2,9% -1,2% -1,5% -1,8% -11,2% -39,1% -2,1% 0,9% 2,7% -45,7% Gold -16% -20% -4% -7,7% * -6,9% * -3,5% -6,4% * -2,1% -2,9% -1,9% -9,6% -3,8% -5,5% -4,2% -13,9% -14,2% -22,4% -4,5% -4,3% Crude_Oil_WTI 55% 50% 27% 49% 39,0% * 23,7% * 1,8% * 16,1% * -0,9% 4,3% 7,5% 15,2% -6,0% 7,8% 11,3% 13,7% -8,1% 11,1% 16,1% 13,5% 45,7% Natural_Gas -19% -4% 14,1% 0,1% -4,2% * -6,1% 5,4% -9,9% -2,3% -21,3% 10,5% -9,2% -7,2% 1,8% 9,4% -5,1% Agricolture 29% 12% 73% 8% 22,1% 10,3% 1,4% 3,9% 2,7% 1,2% 1,2% 7,1% 4,3% 3,7% 2,1% -13,1% -28,6% -12,2% 42,9% 10,0% Bond BGOV_ITA_BTP -34% -3% 1,1% -0,8% -0,6% -1,6% -0,8% -1,1% 0,1% -2,8% -1,1% -1,6% -1,5% -36,7% -48,5% -22,6% -39,3% -3,5% BGOV_GERM_BUND -8% -30% -1,6% -1,7% -0,3% -1,2% -0,8% -0,3% 0,2% -1,8% -0,7% -0,9% -0,5% -10,2% -7,8% 36,2% -35,2% BGOV_UK_GILT -26% -21% 13% 46% -5,7% * -4,4% * -1,2% -2,5% -1,8% -1,6% 1,2% -4,8% -1,5% -2,6% 2,4% -5,7% 13,9% -21,6% 15,4% 10,9% 36,8% BGOV_USA_Treasury -19% -18% 20% -4,3% -2,9% -0,9% -2,2% -0,8% -0,3% -0,9% -3,0% -1,0% -1,8% -0,9% -8,7% -12,1% -19,6% -4,8% 21,0% BGOV_Emerg_Mrkt -18% -36% -3,0% -3,2% -1,7% * -4,4% * -1,3% -2,7% -0,2% -4,9% -1,8% -3,0% -1,8% -24,3% -15,8% -38,2% -2,9% -1,5% BOND_Corp_Europa 10% 0,4% -0,7% -0,2% -0,7% -0,3% -0,4% 0,2% -1,3% -0,4% -0,8% 0,5% -11,1% -16,5% -15,1% 5,9% 10,4% BOND_Corp_Usa -20% -25% -4,8% -2,9% -0,8% -3,0% -1,1% -1,3% 0,2% -4,8% -1,4% -2,3% -1,5% 2,6% 5,9% 3,1% 2,9% BOND_Corp_Emerg -23% -4% -1,0% -0,4% 0,0% -0,7% -0,4% -0,6% 1,0% -2,7% -1,0% -1,7% 1,3% -16,4% 6,9% -20,9% -26,5% -4,5% BOND_High_Yeld_GL 9% -16% 2,2% * 1,4% * 0,1% * -0,5% * 0,1% -0,8% 0,8% -1,8% 0,5% -1,2% 0,8% -15,1% -22,7% -14,8% -16,6% © MarkeTiming Research (ALL RIGHTS REDERVED) MarkeTiming Selection for the week of 8/3/2021 Stocks FTSE_MIB_(ITALY) Unstable DownTrend about -0,5% in weekly mitigation. Take a Short Position with a Tactical Adjustment on portfolio composition from 16% to -18%. CAC_40_(FRANCE) Stable and aligned UpTrend about 2,1% in weekly progression. Bullish resistence over 5871. Increasing Volatility stance in a range of 1,9% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 14% to 9%. DAX_(GERMANY) Unstable DownTrend about -0,9% in weekly mitigation. Take a Long Position with a Tactical Adjustment on portfolio composition from 0% to 10%. FTSE_100_(UK) Stable and aligned UpTrend about 2,1% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from 6% to 0%. Dow_ Jones_Ind_Av_(USA) Stable and aligned UpTrend about 1,1% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from 10% to -8%. Nasdaq_100_(USA) Unstable DownTrend about -6,7% in weekly progression. Bullish resistence over 13301. Increasing Volatility stance in a range of -8,3% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from 0% to -26%. Nikkei_225_(JAPAN) Stable and aligned UpTrend Take a Short Position with a Tactical Adjustment on portfolio composition from 18% to -18%. Hang_Seng_(HONG KONG) Unstable DownTrend about -0,6% in weekly mitigation. Take a Short Position with a Tactical Adjustment on portfolio composition from 19% to -11%. Shanghai_Comp_(CHINA) Stable and aligned UpTrend Take a Short Position with a Tactical Adjustment on portfolio composition from 9% to -9%. BSE_Sensex_(INDIA) Unstable DownTrend about -0,6% in weekly mitigation. Take a Short Position with a Tactical Adjustment on portfolio composition from 17% to -19%. RTSI_(RUSSIA) Stable and aligned UpTrend about 1% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from 11% to -9%. Ibovespa_(BRAZIL) Stable DownTrend about -9,7% in weekly progression. Bearish suppot under 15526. Increasing Volatility stance in a range of -8,6% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from -18% to -27%. Currency & Comodity EUR/USD Unstable DownTrend about -1% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from 3% to -3%. Gold Stable and aligned DownTrend about -6,4% in weekly progression. Bullish resistence over 1757. Increasing Volatility stance in a range of -4,2% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from -12% to -5%. Crude_Oil_WTI Stable and aligned UpTrend about 16% in weekly progression. Bullish resistence over 66. Increasing Volatility stance in a range of 11,2% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from 53% to -1%. Natural_Gas Unstable DownTrend about -6% in weekly progression. Bullish resistence over 2. Increasing Volatility stance in a range of -7,2% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from 21% to -40%. BOND_Corp_Emerg Stable and aligned UpTrend about 3,8% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from 21% to 0%. Bond BGOV_ITA_BTP Unstable DownTrend about -1,5% in weekly mitigation. BGOV_GERM_BUND Stable DownTrend about -1,1% in weekly mitigation. Take a Long Position with a Tactical Adjustment on portfolio composition from -11% to 7%. BGOV_UK_GILT Stable and aligned DownTrend about -2,4% in weekly mitigation. Take a Long Position with a Tactical Adjustment on portfolio composition from -32% to 9%. BGOV_USA_Treasury Stable and aligned DownTrend about -2,1% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from -14% to -4%. BGOV_Emerg_Mrkt Stable DownTrend about -4,3% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from -16% to -10%. BOND_Corp_Europa Unstable DownTrend about -0,6% in weekly mitigation. BOND_Corp_Usa Stable and aligned DownTrend about -3% in weekly mitigation. Take a Short Position with a Tactical Adjustment on portfolio composition from -20% to -1%. BOND_High_Yeld_GL Stable and aligned DownTrend about -0,6% in weekly mitigation. Take a Long Position with a Tactical Adjustment on portfolio composition from -8% to 8%. Agricolture Unstable DownTrend about -0,5% in weekly mitigation. Take a Long Position with a Tactical Adjustment on portfolio composition from 0% to 8%. © MarkeTiming Research (ALL RIGHTS REDERVED) MarkeTiming Selection for the week of 01/3/2021 This Report is a rappresentative study of markets stance and does not constitute an investment advisory service. MARKET SELECTION weekly outlook TREND STABILITY PRIMARY TREND trend evolution VOLATILITY STANCE range evolution VOLATILITY DINAMIC volatility evolution TIMING RESISTENCE SUPPORT POWER Stability Trend Dynamic Timing Power LONG TERM MEDIUM TERM SHORT TERM 12/feb 19/feb 26/feb 12/feb 19/feb 26/feb 12/feb 19/feb 26/feb 26/feb 26/feb 26/feb Stocks FTSE_MIB_(ITALY) 17% -9% 12,0% 5,6% -0,2% 5,9% 1,4% -1,2% -1,2% 7,3% 1,9% -3,4% -2,8% 0,8% 40,4% -18,4% -19,9% 0,4% CAC_40_(FRANCE) 13% 16% 11,4% 5,4% 1,1% 5,6% 0,8% 1,2% -1,2% * 5,7% 1,6% 1,4% -2,5% * 3,4% -1,0% 13,1% -3,4% -4,7% DAX_(GERMANY) 6,9% 3,6% -0,6% 2,6% 0,0% -0,4% -1,5% 3,6% -2,4% -2,0% -2,8% -18,2% -76,3% * -1,4% -15,6% -1,6% FTSE_100_(UK) 7% 6,0% 2,9% 0,5% 1,2% 1,5% 0,5% -2,1% 5,2% 1,7% 3,1% -3,6% 7,0% 6,5% 39,6% -8,9% -9,7% Dow_ Jones_Ind_Av_(USA) 12% 9% 10,9% 4,7% 0,5% 3,2% 1,1% 0,1% -1,8% 5,5% 1,1% 1,1% -3,5% 17,3% * -3,7% 42,6% * 17,9% * 2,3% Nasdaq_100_(USA) -12% 12,5% 3,7% -3,0% * -0,1% 1,6% -1,6% * -4,9% -8,3% 2,0% -2,9% -5,2% -0,8% -33,4% 10,2% 7,3% -3,4% -45,0% Nikkei_225_(JAPAN) 25% 13% -12% -14% 21,4% 10,8% * 1,5% * 4,7% 2,6% 1,7% * -3,5% 8,8% 2,8% 3,5% -4,9% 10,8% 76,4% * 39,0% -26,7% -8,2% -50,1% Hang_Seng_(HONG KONG) 20% -10% -24% 16,4% 9,7% 0,8% 2,5% 3,0% 1,6% -5,4% -8,0% 3,1% 4,4% * -6,8% 3,1% 1,9% 14,4% -22,2% -11,7% -86,9% Shanghai_Comp_(CHINA) 10% -16% -20% 8,6% 4,3% 0,2% 0,7% 4,5% * 1,1% -5,1% -7,3% 4,7% * 3,2% -6,0% -4,4% 26,4% -2,8% -36,2% -7,9% -74,5% BSE_Sensex_(INDIA) 17% -12% -15% 21,9% * 8,1% -1,2% 6,1% * 1,6% -1,3% -3,5% -7,1% 1,9% -3,6% -4,9% -20,5% * -7,5% -29,1% -28,9% -11,1% -49,9% RTSI_(RUSSIA) 15% 9% 12,6% 7,2% 0,1% 3,2% 2,1% 0,7% -4,1% 9,2% * 3,7% -4,6% * -4,7% -0,3% 27,9% -12,7% -5,9% -12,7% Ibovespa_(BRAZIL) -18% -42% -15% 5,1% * 0,2% * -3,0% -6,5% * -0,4% * -0,7% -6,9% * -11,1% * -3,7% * -2,2% -8,6% * -11,8% -36,9% * -98,4% * -63,1% Currency & Comodity EUR/USD 4% -78% 3,2% 0,9% 0,5% -0,5% 0,6% 0,0% -0,4% 2,4% 1,1% -1,2% -1,5% -10,2% 0,4% -39,1% -2,1% 1,4% -44,2% Gold -7% -17% -49% -7% -4,0% * -3,6% * -1,1% -6,5% * 0,4% -2,1% -2,9% -8,3% 2,7% -3,8% -5,5% -18,1% -1,4% -14,2% -22,4% -3,7% Crude_Oil_WTI 59% 49% 24% 6% 41,7% * 27,2% * 4,8% * 18,2% * 4,5% -0,9% 4,3% 17,3% 4,7% -6,0% 7,8% 14,8% 47,9% -8,1% 11,1% 3,1% Natural_Gas 22% -9% 17,5% 1,4% -2,9% * 8,1% 1,3% 5,4% -9,9% -20,5% -10,1% 10,5% -9,2% 15,3% 4,0% 9,4% -5,0% Agricolture 30% 13% -27% 23,2% 11,6% 2,3% 4,7% -1,2% 2,7% 1,2% 7,2% -4,1% 4,3% 3,7% -15,6% -27,6% -28,6% -12,2% -0,4% Bond BGOV_ITA_BTP -14% -8% 1,4% -0,7% -0,7% -0,9% 0,3% -0,8% -1,1% -2,8% 0,8% -1,1% -1,6% -38,9% -66,7% -48,5% -22,6% -6,2% BGOV_GERM_BUND -10% -13% 23% -1,8% -2,0% -0,8% -2,1% -0,3% -0,8% -0,3% -2,2% -0,5% -0,7% -0,9% -9,9% -34,0% -7,8% 36,2% 0,6% BGOV_UK_GILT -27% -38% -14% -6,0% * -4,8% * -2,2% * -5,8% * -0,2% -1,8% -1,6% -6,8% -1,1% -1,5% -2,6% -13,8% -21,6% 13,9% -21,6% -0,1% BGOV_USA_Treasury -17% -12% -12% 60% -4,1% -2,8% -1,1% -1,9% -0,2% -0,8% -0,3% -3,2% -0,5% -1,0% -1,8% -14,1% 7,8% -12,1% -19,6% 3,0% 45,3% BGOV_Emerg_Mrkt -14% -19% -24% -19% -2,5% -2,5% -1,9% -2,9% -0,2% -1,3% -2,7% -5,2% 0,8% -1,8% -3,0% -19,1% -50,5% -15,8% -38,2% -15,1% BOND_Corp_Europa 0,4% -0,8% -0,4% -0,8% -0,1% -0,3% -0,4% -1,3% -0,3% -0,4% -0,8% -16,5% -12,0% -16,5% -15,1% -0,6% BOND_Corp_Usa -24% -18% 2% -5,6% -3,7% -2,1% -2,7% -0,9% -1,1% -1,3% -5,4% -1,1% -1,4% -2,3% -3,0% -3,0% 5,9% 3,1% 1,5% BOND_Corp_Emerg -8% -13% -6% -1,9% -1,2% -1,0% -0,3% -0,7% -0,4% -0,6% -3,1% -1,0% -1,0% -1,7% -15,5% -22,8% 6,9% -20,9% -4,9% BOND_High_Yeld_GL 6% 1,8% * 1,1% * -0,4% * 0,3% * -0,7% 0,1% -0,8% -1,9% -0,8% 0,5% -1,2% -12,7% -1,1% -22,7% -14,8% 5,1% © MarkeTiming Research (ALL RIGHTS REDERVED) MarkeTiming Selection for the week of 29/2/2021 Stocks FTSE_MIB_(ITALY) Stable and aligned UpTrend CAC_40_(FRANCE) Stable and aligned UpTrend DAX_(GERMANY) Stable and aligned UpTrend FTSE_100_(UK) Stable and aligned UpTrend Dow_ Jones_Ind_Av_(USA) Stable and aligned UpTrend Nasdaq_100_(USA) Unstable DownTrend about -0,1% in weekly progression. Nikkei_225_(JAPAN) Stable and aligned UpTrend Hang_Seng_(HONG KONG) Stable and aligned UpTrend Shanghai_Comp_(CHINA) Stable and aligned UpTrend BSE_Sensex_(INDIA) Stable and aligned UpTrend RTSI_(RUSSIA) Stable and aligned UpTrend Ibovespa_(BRAZIL) Unstable DownTrend about -6,5% in weekly progression. Currency & Comodity EUR/USD Unstable DownTrend about -0,5% in weekly progression. Bullish resistence over 1. Increasing Volatility stance in a range of -1,4% (risk weight). Gold Stable and aligned DownTrend about -6,4% in weekly progression. Bullish resistence over 1815. Increasing Volatility stance in a range of -5,5% (risk weight). Crude_Oil_WTI Stable and aligned UpTrend about 18,1% in weekly progression. Bearish suppot under 58. Increasing Volatility stance in a range of 7,7% (risk weight). Natural_Gas Stable and aligned UpTrend BOND_Corp_Emerg Stable and aligned UpTrend about 4,6% in weekly progression. Bond BGOV_ITA_BTP Unstable DownTrend about -0,9% in weekly progression. BGOV_GERM_BUND Stable DownTrend about -2% in weekly progression. BGOV_UK_GILT Stable and aligned DownTrend about -5,8% in weekly progression. BGOV_USA_Treasury Stable and aligned DownTrend about -1,8% in weekly progression. BGOV_Emerg_Mrkt Stable and aligned DownTrend about -2,9% in weekly progression. BOND_Corp_Europa Unstable DownTrend about -0,8% in weekly progression. BOND_Corp_Usa Stable and aligned DownTrend about -2,7% in weekly progression. BOND_High_Yeld_GL Stable and aligned DownTrend about -0,2% in weekly progression. Agricolture Stable and aligned UpTrend © MarkeTiming Research (ALL RIGHTS REDERVED) MarkeTiming Selection for the week of 22/2/2021 This Report is a rappresentative study of markets stance and does not constitute an investment advisory service. MARKET SELECTION weekly outlook TREND STABILITY PRIMARY TREND trend evolution VOLATILITY STANCE range evolution VOLATILITY DINAMIC volatility evolution TIMING RESISTENCE SUPPORT POWER Stability Trend Dynamic Timing Power LONG TERM MEDIUM TERM SHORT TERM 05/feb 12/feb 19/feb 05/feb 12/feb 19/feb 05/feb 12/feb 19/feb 19/feb 19/feb 19/feb Stocks FTSE_MIB_(ITALY) 8% 19% -11% -2% 14,4% 8,1% 2,6% 4,7% 7,0% 1,4% -1,2% 10,2% 5,8% 1,9% -3,4% -1,4% 27,0% 40,4% -18,4% -1,9% CAC_40_(FRANCE) 7% 15% 3% 12,2% 6,3% 2,4% 3,8% 4,8% 0,8% 1,2% 7,5% 2,9% 1,6% 1,4% -5,2% -1,0% 13,1% 2,4% DAX_(GERMANY) 5% 1% 8,5% 4,9% 0,8% * 0,9% 4,6% 0,0% -0,4% 6,1% 3,0% -2,4% -2,0% -21,0% -76,3% * -1,4% 0,9% FTSE_100_(UK) 5% 23% -53% 7,5% * 4,7% * 1,8% -1,1% * 1,3% 1,5% 0,5% -6,1% 1,8% 1,7% 3,1% -6,0% 6,5% 39,6% -5,6% -43,7% Dow_ Jones_Ind_Av_(USA) 6% 25% 11,7% 5,3% 1,3% 1,6% 3,8% 1,1% 0,1% 5,7% 3,2% 1,1% 1,1% -9,5% 5,2% -3,7% 42,6% * Nasdaq_100_(USA) 9% 18,6% 8,9% 1,1% 1,6% 5,1% 1,6% -1,6% * 7,6% 2,1% 2,0% -2,9% -24,3% * -33,4% 10,2% -0,2% Nikkei_225_(JAPAN) 13% 19% 23% 23,4% 13,0% * 3,5% * 4,8% * 4,0% 2,6% 1,7% * 10,5% 2,4% 2,8% 3,5% 21,1% * 76,4% * 39,0% Hang_Seng_(HONG KONG) 11% 16% 18,7% 12,5% 2,9% 4,1% 3,6% 3,0% 1,6% 9,8% -2,5% * 3,1% 4,4% * 1,9% 36,8% 1,9% 14,4% Shanghai_Comp_(CHINA) 6% 34% 10,8% 6,2% 1,9% 2,5% 0,4% * 4,5% * 1,1% 7,9% -2,2% 4,7% * 3,2% -5,2% -6,8% * 26,4% -2,8% 2,2% 29,3% BSE_Sensex_(INDIA) 14% 16% -17% 27,0% * 12,7% 3,1% 4,1% 9,6% * 1,6% -1,3% 12,6% * 3,7% 1,9% -3,6% -19,2% 4,2% -7,5% -29,1% * RTSI_(RUSSIA) 10% 15% -7% 15,6% 10,8% 3,0% 3,8% 4,7% 2,1% 0,7% 10,2% 4,0% 3,7% -4,6% * -2,5% 3,9% 27,9% -12,7% -6,5% Ibovespa_(BRAZIL) 5% 9,1% 5,4% 0,8% 2,7% 1,5% -0,4% * -0,7% -7,5% * 7,5% * -3,7% * -2,2% 10,4% 37,8% * Currency & Comodity EUR/USD 3% -73% 51% 3,0% 0,7% 0,1% -0,4% -0,7% 0,6% 0,0% -1,9% -1,1% 1,1% -1,2% -15,3% 0,7% 0,4% -39,1% 40,3% Gold -6% -27% -46% -3,6% * -3,7% * -1,6% * -4,0% * -2,0% 0,4% -2,1% -6,5% -4,4% 2,7% -3,8% -10,1% -27,4% -1,4% -14,2% -36,6% Crude_Oil_WTI 53% 35% -3% 40,4% * 26,7% * 6,3% 13,5% 9,4% 4,5% -0,9% 18,3% 6,8% 4,7% -6,0% 9,0% 23,8% 47,9% -8,1% -2,0% Natural_Gas 36% 65% 30,4% 11,3% 8,2% * 25,3% * 12,4% 1,3% 5,4% 27,6% 10,7% -10,1% 10,5% 10,8% 25,4% 4,0% 9,4% 0,5% BOND_Corp_Emerg -1% -1,0% -0,3% -0,1% 0,6% 1,4% -0,7% -0,4% 2,2% 1,2% -1,0% -1,0% 1,6% -29,7% -22,8% 6,9% Bond BGOV_ITA_BTP 4% 6% -37% -19% 2,4% 0,1% 0,0% 0,9% 0,7% 0,3% -0,8% 2,0% 1,2% 0,8% -1,1% -44,4% -45,0% -66,7% -48,5% -4,4% -32,8% BGOV_GERM_BUND -6% -11% -1,4% -1,7% -0,8% -1,8% -0,7% -0,3% -0,8% -2,2% -0,6% -0,5% -0,7% -37,3% -58,3% -34,0% -7,8% 7,1% -29,8% BGOV_UK_GILT -15% -26% -4,7% * -3,7% * -2,1% * -4,3% * -2,3% -0,2% -1,8% -6,0% -2,8% -1,1% -1,5% -11,3% -35,8% -21,6% 13,9% 9,8% BGOV_USA_Treasury -9% -10% -23% -3,3% -2,1% -0,7% -1,6% -0,6% -0,2% -0,8% -2,1% -0,5% -0,5% -1,0% -9,1% -40,2% 7,8% -12,1% -4,1% -41,4% BGOV_Emerg_Mrkt_Loc -1% -12% -27% -0,4% -0,3% 0,0% 0,3% 1,3% -0,2% -1,3% -2,6% 1,3% 0,8% -1,8% -9,5% 20,3% -50,5% -15,8% -53,2% BOND_Corp_Europa -3% -13% -32% 0,9% -0,4% -0,2% -0,5% 0,0% -0,1% -0,3% -0,7% -0,2% -0,3% -0,4% -10,9% -41,2% -12,0% -16,5% -11,3% -53,1% BOND_Corp_Usa -10% -6% -3,9% -2,1% -0,9% -1,0% 0,5% -0,9% -1,1% -2,8% 1,2% -1,1% -1,4% 3,5% -25,5% -3,0% 5,9% -8,0% BOND_High_Yeld_GL 7% 8% -17% 2,6% 1,9% 0,3% 1,3% 1,6% -0,7% 0,1% 2,3% 1,4% -0,8% 0,5% -8,2% 4,2% -1,1% -22,7% Agricolture 48% 29% -22% 21,2% * 10,2% * 1,1% * 4,8% * 2,0% -1,2% 2,7% 7,5% 2,4% -4,1% 4,3% -5,8% 20,0% -27,6% -28,6% -3,1% © MarkeTiming Research (ALL RIGHTS REDERVED) MarkeTiming Selection for the week of 22/2/2021 Stocks FTSE_MIB_(ITALY) Stable and aligned UpTrend Take a Long Position with a Tactical Adjustment on portfolio composition from 11% to 2%. CAC_40_(FRANCE) Stable and aligned UpTrend about 3,8% in weekly progression. Bullish resistence over 5801. Reducing Volatility stance in a range of 1,3% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 6% to 7%. DAX_(GERMANY) Stable and aligned UpTrend Take a Short Position with a Tactical Adjustment on portfolio composition from 5% to 0%. FTSE_100_(UK) Unstable DownTrend about -1% in weekly mitigation. Take a Long Position with a Tactical Adjustment on portfolio composition from 0% to 4%. Dow_ Jones_Ind_Av_(USA) Stable and aligned UpTrend about 1,6% in weekly progression. Bearish suppot under 31285. Reducing Volatility stance in a range of 1,1% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from 6% to 0%. Nasdaq_100_(USA) Stable and aligned UpTrend Take a Short Position with a Tactical Adjustment on portfolio composition from 16% to -11%. Nikkei_225_(JAPAN) Stable and aligned UpTrend about 4,8% in weekly progression. Bullish resistence over 30714. Increasing Volatility stance in a range of 3,4% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 11% to 4%. Hang_Seng_(HONG KONG) Stable and aligned UpTrend about 4% in weekly progression. Bullish resistence over 31183. Increasing Volatility stance in a range of 4,3% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 12% to 0%. Shanghai_Comp_(CHINA) Stable and aligned UpTrend about 2,4% in weekly progression. Bullish resistence over 3731. Increasing Volatility stance in a range of 3,2% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from 6% to -3%. BSE_Sensex_(INDIA) Stable and aligned UpTrend Take a Long Position with a Tactical Adjustment on portfolio composition from 15% to 0%. RTSI_(RUSSIA) Stable and aligned UpTrend about 3,8% in weekly progression. Bearish suppot under 1440. Increasing Volatility stance in a range of -4,5% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 9% to 7%. Ibovespa_(BRAZIL) Stable and aligned UpTrend Take a Long Position with a Tactical Adjustment on portfolio composition from -6% to 8%. Currency & Comodity EUR/USD Unstable DownTrend about -0,4% in weekly progression. Bearish suppot under 1. Increasing Volatility stance in a range of -1,2% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from 3% to -1%. Gold Stable DownTrend about -3,9% in weekly progression. Bullish resistence over 1827. Increasing Volatility stance in a range of -3,7% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from -3% to -3%. Crude_Oil_WTI Stable and aligned UpTrend Take a Short Position with a Tactical Adjustment on portfolio composition from 66% to -22%. Natural_Gas Stable and aligned UpTrend about 25,3% in weekly progression. Bearish suppot under 2. Increasing Volatility stance in a range of 10,5% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 29% to 21%. BOND_Corp_Emerg Unstable UpTrend Take a Short Position with a Tactical Adjustment on portfolio composition from 0% to -1%. Bond BGOV_ITA_BTP Stable and aligned UpTrend Take a Short Position with a Tactical Adjustment on portfolio composition from 8% to -3%. BGOV_GERM_BUND Stable DownTrend about -1,8% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from -9% to 0%. BGOV_UK_GILT Stable and aligned DownTrend about -4,2% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from -20% to 0%. BGOV_USA_Treasury Stable and aligned DownTrend about -1,5% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from -7% to -1%. BGOV_Emerg_Mrkt_Loc Unstable UpTrend Take a Short Position with a Tactical Adjustment on portfolio composition from 1% to -2%. BOND_Corp_Europa Unstable DownTrend about -0,5% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from 0% to -3%. BOND_Corp_Usa Stable and aligned DownTrend about -0,9% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from -8% to 0%. BOND_High_Yeld_GL Stable and aligned UpTrend about 1,2% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from 9% to -1%. Agricolture Stable and aligned UpTrend about 4,7% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from 16% to 21%. © MarkeTiming Research (ALL RIGHTS REDERVED) MarkeTiming Selection for the week of 15/2/2021 This Report is a rappresentative study of markets stance and does not constitute an investment advisory service. MARKET SELECTION weekly outlook TREND STABILITY PRIMARY TREND trend evolution VOLATILITY STANCE range evolution VOLATILITY DINAMIC volatility evolution TIMING RESISTENCE SUPPORT POWER Stability Trend Dynamic Timing Power LONG TERM MEDIUM TERM SHORT TERM 29/gen 05/feb 12/feb 29/gen 05/feb 12/feb 29/gen 05/feb 12/feb 12/feb 12/feb 12/feb Stocks FTSE_MIB_(ITALY) 10% 13% 40% 15,4% 9,2% 3,6% 4,6% -2,3% 7,0% 1,4% 9,7% -4,3% 5,8% 1,9% 0,8% -16,2% 27,0% 40,4% * CAC_40_(FRANCE) 7% 11,3% 5,8% 1,7% 1,6% -2,9% 4,8% 0,8% 6,0% -3,7% 2,9% 1,6% -15,9% -21,0% 4,4% DAX_(GERMANY) 6% 9,3% 5,5% 1,1% 1,9% -3,2% 4,6% 0,0% 6,2% -4,6% 3,0% -2,4% -25,7% -21,8% 5,5% FTSE_100_(UK) 5,3% * 2,8% * -0,8% * -2,2% -4,3% 1,3% 1,5% -5,7% -4,8% 1,8% 1,7% -17,2% -38,1% 4,3% Dow_ Jones_Ind_Av_(USA) 7% 12,0% 5,5% 1,3% 2,0% -3,3% 3,8% 1,1% 5,4% -4,1% 3,2% 1,1% -22,8% -42,2% 5,2% -3,7% Nasdaq_100_(USA) 11% 22% 19,9% 10,0% 2,2% 7,7% * -3,3% 5,1% 1,6% 7,7% -5,4% 2,1% 2,0% -31,3% * -45,6% * 2,6% Nikkei_225_(JAPAN) 13% 10% 24% 21,6% 11,7% 2,4% 3,5% -3,4% 4,0% 2,6% 7,0% -4,2% 2,4% 2,8% 5,1% -15,2% 34,1% Hang_Seng_(HONG KONG) 10% 16% 20% 16,3% 11,0% 1,1% 5,6% -4,0% 3,6% 3,0% 6,5% -6,5% * -2,5% * 3,1% 7,1% * -19,4% 36,8% 1,9% 28,2% Shanghai_Comp_(CHINA) 6% 7% 26% 55% 9,7% 5,2% 0,8% 2,5% -3,4% 0,4% * 4,5% * 6,0% -5,3% -2,2% 4,7% * -4,8% -22,7% -6,8% * 26,4% 7,9% 69,6% BSE_Sensex_(INDIA) 16% 14% -7% 27,6% * 13,4% * 3,6% * 5,1% -5,3% * 9,6% * 1,6% 11,3% * -6,4% 3,7% 1,9% -14,4% -23,6% 4,2% -7,5% * RTSI_(RUSSIA) 10% 27% 14,7% 10,7% 1,8% -0,8% -3,6% 4,7% 2,1% -9,6% -5,8% 4,0% 3,7% -8,4% -15,8% 3,9% 27,9% Ibovespa_(BRAZIL) 6% -18% 9,2% 7,0% 0,9% -6,4% * 2,3% * 1,5% -0,4% * -11,8% * -3,4% * 7,5% * -3,7% * 4,9% -10,4% * 37,8% * 5,9% Currency & Comodity EUR/USD 4% 23% 3,3% 0,8% 0,0% 0,3% -0,3% -0,7% 0,6% 2,0% -1,0% -1,1% 1,1% -5,8% -18,1% 0,7% 0,4% 33,2% Gold -3% -27% -1,4% * -1,9% * -0,4% * -0,3% * -0,3% -2,0% 0,4% -5,1% -2,7% -4,4% 2,7% -3,2% 5,3% -27,4% -1,4% -39,2% Crude_Oil_WTI 63% 71% 64% 28% 38,3% * 25,2% * 6,2% * 14,3% * 0,3% 9,4% 4,5% 15,1% 3,3% 6,8% 4,7% 5,6% -4,9% 23,8% 47,9% 10,9% 30,3% Natural_Gas 30% 29% 5% -1% 22,8% 4,3% 6,1% 5,9% 4,4% 12,4% 1,3% 22,7% 9,0% 10,7% -10,1% 8,5% 0,5% 25,4% 4,0% -1,4% BOND_Corp_Emerg -31% -21% -0,8% -0,1% 0,3% 0,7% 0,3% 1,4% -0,7% 2,4% 1,2% 1,2% -1,0% -2,3% 24,9% -29,7% -22,8% -29,7% Bond BGOV_ITA_BTP 7% 9% -33% 51% 3,2% 0,7% 0,7% 0,8% 0,8% 0,7% 0,3% 2,3% 0,9% 1,2% 0,8% -48,0% -12,1% -45,0% -66,7% 14,5% BGOV_GERM_BUND -4% -15% -17% -31% -0,7% -1,1% -0,5% -1,3% 0,0% -0,7% -0,3% -1,4% -0,6% -0,6% -0,5% -50,8% -59,7% -58,3% -34,0% -8,8% BGOV_UK_GILT -12% -30% -11% -12% -3,4% * -2,4% * -1,5% * -2,7% * 0,1% -2,3% -0,2% -4,2% -1,6% -2,8% -1,1% -25,9% -13,2% -35,8% -21,6% -3,5% BGOV_USA_Treasury -8% -8% -6% -2,8% -1,7% -0,4% -0,7% 0,0% -0,6% -0,2% -1,3% -0,6% -0,5% -0,5% -7,9% -3,5% -40,2% 7,8% -1,7% BGOV_Emerg_Mrkt_Loc 1% -25% 0,0% 0,3% 0,4% 0,3% 0,5% 1,3% -0,2% 2,6% 0,9% 1,3% 0,8% -7,6% 20,3% -50,5% BOND_Corp_Europa 1,3% -0,1% 0,0% -0,2% -0,1% 0,0% -0,1% -0,5% -0,5% -0,2% -0,3% -16,7% 11,9% -41,2% -12,0% BOND_Corp_Usa -8% -10% -3,2% -1,4% -0,2% -0,9% 0,4% 0,5% -0,9% -1,8% 1,6% 1,2% -1,1% -4,6% 24,6% -25,5% -3,0% 0,1% BOND_High_Yeld_GL 9% 9% 2,7% 2,1% 0,5% 0,9% * 0,2% 1,6% -0,7% 2,3% -1,1% 1,4% -0,8% -7,3% -3,3% 4,2% -1,1% Agricolture 52% -19% -14% 21,2% * 10,6% * 0,8% * -1,7% 1,3% 2,0% -1,2% 7,3% 5,9% 2,4% -4,1% 10,9% 15,1% 20,0% -27,6% © MarkeTiming Research (ALL RIGHTS REDERVED) MarkeTiming Selection for the week of 15/2/2021 Stocks FTSE_MIB_(ITALY) Stable and aligned UpTrend about 4,5% in weekly progression. Bullish resistence over 23512. Reducing Volatility stance in a range of 1,9% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 8% to 2%. CAC_40_(FRANCE) Stable and aligned UpTrend about 1,6% in weekly progression. Bullish resistence over 5719. Increasing Volatility stance in a range of 1,6% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from 3% to 0%. DAX_(GERMANY) Stable and aligned UpTrend Take a Short Position with a Tactical Adjustment on portfolio composition from 10% to -4%. FTSE_100_(UK) Unstable DownTrend about -2,1% in weekly mitigation. Take a Long Position with a Tactical Adjustment on portfolio composition from -20% to 20%. Dow_ Jones_Ind_Av_(USA) Stable and aligned UpTrend about 2% in weekly progression. Bullish resistence over 31543. Reducing Volatility stance in a range of 1,1% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 0% to 6%. Nasdaq_100_(USA) Stable and aligned UpTrend about 7,7% in weekly progression. Bearish suppot under 13531. Increasing Volatility stance in a range of 1,9% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from 17% to 0%. Nikkei_225_(JAPAN) Stable and aligned UpTrend about 3,5% in weekly progression. Bullish resistence over 29650. Increasing Volatility stance in a range of 2,8% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 8% to 7%. Hang_Seng_(HONG KONG) Stable and aligned UpTrend about 5,5% in weekly progression. Bullish resistence over 30184. Increasing Volatility stance in a range of 3% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from 18% to -5%. Shanghai_Comp_(CHINA) Stable and aligned UpTrend about 2,4% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from -7% to 10%. BSE_Sensex_(INDIA) Stable and aligned UpTrend about 5,1% in weekly progression. Bullish resistence over 51835. Reducing Volatility stance in a range of 1,9% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from 21% to -6%. RTSI_(RUSSIA) Unstable DownTrend about -0,8% in weekly mitigation. Take a Long Position with a Tactical Adjustment on portfolio composition from -8% to 9%. Ibovespa_(BRAZIL) Unstable DownTrend about -6,4% in weekly progression. Bearish suppot under 18005. Increasing Volatility stance in a range of -3,7% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from 0% to -6%. Currency & Comodity EUR/USD Stable and aligned UpTrend about 0,3% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from 0% to 3%. Gold Stable DownTrend about -0,3% in weekly mitigation. Take a Long Position with a Tactical Adjustment on portfolio composition from -4% to 0%. Crude_Oil_WTI Stable and aligned UpTrend about 14,2% in weekly progression. Bullish resistence over 59. Increasing Volatility stance in a range of 4,7% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 58% to 8%. Natural_Gas Stable UpTrend about 5,8% in weekly progression. Bearish suppot under 2. Increasing Volatility stance in a range of -10,1% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from 39% to -9%. BOND_Corp_Emerg Unstable UpTrend Bond BGOV_ITA_BTP Stable and aligned UpTrend about 0,8% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from 0% to 8%. BGOV_GERM_BUND Stable DownTrend about -1,3% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from 0% to -9%. BGOV_UK_GILT Stable and aligned DownTrend about -2,7% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from 0% to -20%. BGOV_USA_Treasury Stable and aligned DownTrend about -0,7% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from 0% to -7%. BGOV_Emerg_Mrkt_Loc Stable UpTrend Take a Long Position with a Tactical Adjustment on portfolio composition from 0% to 1%. BOND_Corp_Europa Unstable DownTrend about -0,2% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from 0% to 0%. BOND_Corp_Usa Stable and aligned DownTrend about -0,8% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from 0% to -8%. BOND_High_Yeld_GL Stable and aligned UpTrend Take a Short Position with a Tactical Adjustment on portfolio composition from 96% to -87%. Agricolture Unstable DownTrend about -1,6% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from -3% to 20%. © MarkeTiming Research (ALL RIGHTS REDERVED) MarkeTiming Selection for the week of 8/2/2021 This Report is a rappresentative study of markets stance and does not constitute an investment advisory service. MARKET SELECTION weekly outlook TREND STABILITY PRIMARY TREND trend evolution VOLATILITY STANCE range evolution VOLATILITY DINAMIC volatility evolution TIMING RESISTENCE SUPPORT POWER Stability Trend Dynamic Timing Power LONG TERM MEDIUM TERM SHORT TERM 22/gen 29/gen 05/feb 22/gen 29/gen 05/feb 22/gen 29/gen 05/feb 05/feb 05/feb 05/feb Stocks FTSE_MIB_(ITALY) 13% 5% 27% 17% 11,9% 6,4% 0,6% 1,3% -1,3% -2,3% 7,0% 8,7% -4,0% -4,3% 5,8% -9,6% -24,5% -16,2% 27,0% 57,3% CAC_40_(FRANCE) 10% -3% 13% 9,9% 4,8% 0,0% -0,8% -0,9% -2,9% 4,8% -5,8% -2,7% -3,7% 2,9% -23,8% -18,9% -21,0% 0,7% 45,8% DAX_(GERMANY) 10% 12% 9,1% 5,2% 0,5% 0,1% 0,6% -3,2% 4,6% 5,8% 2,3% -4,6% 3,0% -23,0% 9,4% -21,8% 0,9% 41,4% FTSE_100_(UK) -21% 5,1% * 2,9% * -2,0% -5,6% * -0,6% -4,3% 1,3% -7,1% -1,9% -4,8% 1,8% -32,5% * -11,0% -38,1% 5,3% Dow_ Jones_Ind_Av_(USA) 23% 10,5% 4,1% -0,3% 0,0% 0,6% -3,3% 3,8% 4,6% 2,1% -4,1% 3,2% -29,7% -17,3% -42,2% 5,2% 20,5% 59,4% Nasdaq_100_(USA) 21% 13% 19,3% 9,4% 2,2% * 3,6% 4,3% * -3,3% 5,1% 6,7% 5,0% -5,4% 2,1% -29,2% -0,6% -45,6% * 4,0% Nikkei_225_(JAPAN) 8% 18% 18,7% 9,5% 0,0% 2,3% 0,4% -3,4% 4,0% 4,7% 2,6% -4,2% 2,4% 3,8% -5,2% -15,2% 20,5% 42,4% Hang_Seng_(HONG KONG) 18% 19% 36% 14,9% 10,5% 0,7% 5,1% * 3,1% -4,0% 3,6% 8,2% 5,9% * -6,5% * -2,5% * 11,1% * 52,9% * -19,4% 36,8% -5,7% Shanghai_Comp_(CHINA) -8% 7,8% 3,4% -1,3% -2,1% 1,1% -3,4% 0,4% * -5,3% 2,5% -5,3% -2,2% -11,4% 8,6% -22,7% -6,8% * 3,4% BSE_Sensex_(INDIA) 28% 15% 25,9% * 12,3% * 2,1% 4,0% -0,3% -5,3% * 9,6% * 9,9% * -3,6% -6,4% 3,7% -21,8% -13,1% -23,6% 4,2% 2,9% RTSI_(RUSSIA) -9% 10,8% 7,6% -2,7% * -2,4% -3,8% -3,6% 4,7% -10,0% -5,9% -5,8% 4,0% -15,6% -43,3% * -15,8% 3,9% Ibovespa_(BRAZIL) 37% 16% 6,1% 5,8% -2,3% 0,5% -9,5% * 2,3% * 1,5% -11,8% * -10,4% * -3,4% * 7,5% * 3,9% -38,2% -10,4% * 37,8% * 10,9% 44,6% Currency & Comodity EUR/USD 19% 2,9% 0,4% -0,7% * -1,5% 0,7% -0,3% -0,7% -2,2% 1,1% -1,0% -1,1% -7,2% -4,1% -18,1% 0,7% -2,8% 34,9% Gold -4% -26% -39% -1,3% * -2,2% * -0,6% -1,9% * 1,6% -0,3% -2,0% -5,1% 3,8% -2,7% -4,4% -5,1% 11,1% 5,3% -27,4% -12,2% -54,2% Crude_Oil_WTI 61% 56% 22% 42% 34,7% * 22,0% * 3,7% 8,6% * -0,3% 0,3% 9,4% 10,8% -4,5% 3,3% 6,8% -8,2% -73,1% -4,9% 23,8% 11,5% 60,9% Natural_Gas 34% 44% 24% 23,0% 4,2% 6,7% * 6,7% -11,0% 4,4% 12,4% 23,0% -9,8% 9,0% 10,7% 10,2% -18,3% 0,5% 25,4% 7,3% Agricolture -28% -0,5% 0,2% 1,0% 2,5% -0,4% 0,3% 1,4% 3,0% -1,0% 1,2% 1,2% 6,2% -8,7% 24,9% -29,7% 3,8% Bond BGOV_ITA_BTP 0% -12% 2,8% 0,2% 0,3% -0,1% -1,0% 0,8% 0,7% -1,9% -1,3% 0,9% 1,2% -43,5% -61,3% -12,1% -45,0% -10,1% BGOV_GERM_BUND 0% 0% -16% -18% -0,5% -0,8% -0,4% -0,9% -0,3% 0,0% -0,7% -1,2% -0,6% -0,6% -0,6% -41,8% -54,9% -59,7% -58,3% -4,4% -43,0% BGOV_UK_GILT 0% 0% -10% -15% -2,4% -1,4% -0,8% -2,6% -0,3% 0,1% -2,3% -3,9% -1,0% -1,6% -2,8% -19,1% -39,1% -13,2% -35,8% 2,4% -40,4% BGOV_USA_Treasury 0% -11% -14% -2,7% -1,6% -0,3% -0,4% 0,1% 0,0% -0,6% -1,1% 0,2% -0,6% -0,5% -8,1% -3,5% -40,2% 3,2% -40,0% BGOV_Emerg_Mrkt_Loc 0% 0,2% 0,6% 0,5% -0,5% -1,2% 0,5% 1,3% -3,0% -1,8% 0,9% 1,3% -3,7% -11,8% -0,4% BOND_Corp_Europa 0% -11% 1,4% 0,0% -0,1% -0,7% -0,1% -0,1% 0,0% -1,0% -0,4% -0,5% -0,2% -25,8% -42,8% 11,9% -41,2% BOND_Corp_Usa 0% -12% -2,8% -1,0% 0,3% 1,7% -0,9% 0,4% 0,5% 2,3% -1,5% 1,6% 1,2% -2,2% -29,1% 24,6% -25,5% 1,7% -33,9% BOND_Corp_Emerg 94% 99% 39% 40% 2797,4% * 1442,3% * 288,0% * 10074,9% * -0,3% 0,2% 10061,2% 386,4% -1,1% -1,1% 1,4% 39,2% -12,4% -3,3% 142,7% 103,5% BOND_High_Yeld_GL -6% -1% -98,7% * -98,8% * -98,7% * -99,0% * -3,6% 1,3% -99,0% -135,2% -5,3% 5,9% 2,4% 40,0% 105,1% 15,1% © MarkeTiming Research (ALL RIGHTS REDERVED) MarkeTiming Selection for the week of 8/2/2021 Stocks FTSE_MIB_(ITALY) Stable and aligned UpTrend about 1,2% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from 0% to 11%. CAC_40_(FRANCE) Unstable DownTrend about -0,8% in weekly mitigation. Take a Long Position with a Tactical Adjustment on portfolio composition from 0% to 5%. DAX_(GERMANY) Stable and aligned UpTrend about 0% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from 5% to 3%. FTSE_100_(UK) Unstable DownTrend about -5,5% in weekly mitigation. Take a Short Position with a Tactical Adjustment on portfolio composition from 6% to -15%. Dow_ Jones_Ind_Av_(USA) Stable and aligned UpTrend about 0% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from 7% to -7%. Nasdaq_100_(USA) Stable and aligned UpTrend about 3,6% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from 11% to 6%. Nikkei_225_(JAPAN) Stable and aligned UpTrend about 2,2% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from 15% to -10%. Hang_Seng_(HONG KONG) Stable and aligned UpTrend about 5% in weekly progression. Bullish resistence over 29511. Increasing Volatility stance in a range of -2,4% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from 20% to -4%. Shanghai_Comp_(CHINA) Unstable DownTrend about -2% in weekly mitigation. Take a Short Position with a Tactical Adjustment on portfolio composition from 12% to -14%. BSE_Sensex_(INDIA) Stable and aligned UpTrend about 3,9% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from 12% to 10%. RTSI_(RUSSIA) Unstable DownTrend about -2,3% in weekly mitigation. Take a Short Position with a Tactical Adjustment on portfolio composition from 12% to -10%. Ibovespa_(BRAZIL) Stable and aligned UpTrend about 0,5% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from -1% to 10%. Currency & Comodity EUR/USD Unstable DownTrend about -1,4% in weekly progression. Bullish resistence over 1. Increasing Volatility stance in a range of -1,1% (risk weight). Gold Stable DownTrend about -1,9% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from -8% to -4%. Crude_Oil_WTI Stable and aligned UpTrend about 8,6% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from 78% to -16%. Natural_Gas Stable UpTrend about 6,6% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from -25% to 14%. Agricolture Unstable UpTrend about 2,4% in weekly progression. Bond BGOV_ITA_BTP Unstable DownTrend about -0,1% in weekly mitigation. Take a Long Position with a Tactical Adjustment on portfolio composition from -8% to 4%. BGOV_GERM_BUND Stable DownTrend about -0,8% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from 0% to 0%. BGOV_UK_GILT Stable and aligned DownTrend about -2,6% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from -5% to 2%. BGOV_USA_Treasury Stable and aligned DownTrend about -0,4% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from -7% to 6%. BGOV_Emerg_Mrkt_Loc Unstable DownTrend about -0,4% in weekly mitigation. Take a Long Position with a Tactical Adjustment on portfolio composition from -20% to 10%. BOND_Corp_Europa Unstable DownTrend about -0,7% in weekly mitigation. Take a Long Position with a Tactical Adjustment on portfolio composition from 0% to 3%. BOND_Corp_Usa Unstable UpTrend about 1,6% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from -5% to 3%. BOND_Corp_Emerg Stable and aligned UpTrend about 10074,8% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from 6% to 89%. BOND_High_Yeld_GL Stable DownTrend about -98,9% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from 63% to -69%. © MarkeTiming Research (ALL RIGHTS REDERVED) MarkeTiming Selection for the week of 01/2/2021 This Report is a rappresentative study of markets stance and does not constitute an investment advisory service. MARKET SELECTION weekly outlook TREND STABILITY PRIMARY TREND trend evolution VOLATILITY STANCE range evolution VOLATILITY DINAMIC volatility evolution TIMING RESISTENCE SUPPORT POWER Stability Trend Dynamic Timing Power LONG TERM MEDIUM TERM SHORT TERM 11/gen 18/gen 25/gen 11/gen 18/gen 25/gen 11/gen 18/gen 25/gen 25/gen 25/gen 25/gen Stocks FTSE_MIB_(ITALY) -5% -15% -21% 12,7% 7,5% -0,3% -2,5% 1,8% -1,0% -3,4% -5,9% 4,0% -2,8% -5,2% -22,8% 34,2% -62,9% -39,8% -6,6% -67,3% CAC_40_(FRANCE) -4% -12% -18% 11,2% 6,3% -0,4% -2,1% 1,3% -0,8% -2,6% -4,8% 3,4% -2,2% -3,8% -23,6% 27,6% -66,3% -32,7% -65,3% DAX_(GERMANY) 6% -15% -14% 10,1% 5,7% * 0,2% -1,1% 1,5% -0,6% -1,5% 4,8% 4,0% -2,6% -3,1% -23,0% 24,8% -75,9% * -41,7% -5,2% -43,3% FTSE_100_(UK) 7% 5% 9,0% 7,3% 0,2% 2,1% 3,4% * -1,1% -1,2% 6,6% 5,3% -2,1% -2,5% 18,9% 60,0% * -53,0% -22,7% Dow_ Jones_Ind_Av_(USA) 8% -14% 12,8% 6,2% 0,7% 1,5% 2,7% -0,6% 0,2% 4,5% 3,4% -2,0% -2,3% -40,8% 53,5% -35,9% -37,2% Nasdaq_100_(USA) 13% 9% -17% 14% 19,6% 9,7% 2,3% 4,4% 1,6% -0,6% 4,8% * 7,9% 4,2% -2,1% 5,3% * -38,4% 18,0% -17,0% -45,0% * 48,0% Nikkei_225_(JAPAN) 15% 16% 21,6% 12,5% 2,5% 7,3% 3,2% 0,4% 2,1% 8,5% 4,1% 3,8% 1,6% 26,6% 41,1% 16,2% -5,2% Hang_Seng_(HONG KONG) 15% 31% 16% 17,9% 14,6% * 5,5% * 14,6% * 1,6% 3,4% * 4,5% 14,0% * 3,7% 3,8% * 3,6% 36,6% * 43,0% 21,0% 42,4% * 1,5% Shanghai_Comp_(CHINA) 8% 14% 11,4% 6,7% 1,7% 6,7% 0,8% 1,8% 0,8% 8,0% 3,2% 2,9% 2,3% 9,5% -8,6% 28,0% * 8,8% BSE_Sensex_(INDIA) 16% 5% 26,5% * 13,3% 1,4% 2,1% 2,3% -1,4% * -0,4% 7,5% 3,0% -2,8% -3,8% -12,6% -3,9% -32,9% -19,7% 0,7% RTSI_(RUSSIA) 13% -11% -15% 17,0% 14,1% 1,0% 1,5% 2,9% 0,6% -4,3% 10,2% 7,0% * 3,4% -6,1% 5,3% 18,2% 4,3% -30,4% -5,6% -46,2% Ibovespa_(BRAZIL) -10% -19% 8,5% * 10,9% -0,5% * -4,9% * -2,4% * 3,2% -6,2% * -10,5% * -5,0% * -6,3% * -8,9% * -41,4% * -62,6% * -32,5% -18,3% -7,8% -58,2% Currency & Comodity EUR/USD -3% 4,4% 1,6% -0,5% -0,6% -0,7% -0,6% 0,5% -2,4% -1,8% -1,4% 1,0% -2,2% -7,0% -8,3% -3,7% -0,2% Gold 0,3% -1,3% -1,0% -1,3% * -5,2% -0,5% 0,9% -8,4% -7,5% -3,2% 2,3% -13,9% -96,1% 4,5% 3,0% Crude_Oil_WTI 100% 50% -71% 33,9% * 19,9% * 3,1% * 10,7% * 10,0% 0,1% 1,2% 13,0% 10,6% -3,9% 4,4% -18,9% 68,6% -12,3% -35,4% Natural_Gas 50% -17% 10,5% -6,1% * -2,8% * 10,6% 7,6% -6,2% -0,5% 23,8% 8,0% -11,7% -9,8% 10,8% 30,1% -8,6% -8,4% Agricolture 12% 97% -1,8% * -1,2% 0,4% 0,4% 0,2% 0,9% -0,4% 2,1% 1,4% 1,5% 0,8% 14,9% 34,7% 5,0% 6,0% 8,0% Bond BGOV_ITA_BTP -8% -22% 1% 2,7% -0,1% -0,4% -1,1% -0,1% -0,5% -0,4% -1,8% -0,6% -0,7% -1,3% -28,5% -6,0% -37,4% -61,3% 1,0% BGOV_GERM_BUND -31% 0,1% -0,3% -0,1% -0,1% -0,7% 0,2% 0,1% -1,0% -0,7% 0,7% 0,5% -12,0% -2,7% -5,3% -87,9% 0,1% BGOV_UK_GILT -5% -1,5% -0,5% -0,3% -0,2% -1,8% 0,4% 0,2% 2,7% -2,0% 1,2% 1,0% -15,3% -30,0% -0,5% -25,2% BGOV_USA_Treasury -9% -5% 17% 9% -2,5% -1,6% -0,2% -0,6% -1,2% 0,2% 0,3% -1,6% -1,2% 0,6% 0,4% 15,0% -18,4% 6,9% 47,1% 6,2% BGOV_Emerg_Mrkt_Loc -21% -3% -0,6% 0,0% -1,0% * -2,9% * -1,6% -0,4% -1,5% -4,0% -1,7% -2,3% -2,0% -16,5% -33,6% -11,7% -11,8% -2,3% BOND_Corp_Europa -4% -15% 5% 1,7% 0,2% -0,3% -0,5% -0,2% -0,5% 0,0% -1,0% -0,4% -0,7% 0,3% -23,9% -24,0% -39,7% -42,8% 3,5% BOND_Corp_Usa -3% -3,5% * -1,7% * 0,2% -0,4% -0,8% 1,5% -0,6% -2,9% -2,2% 1,9% -1,3% -1,9% -8,8% 18,1% -2,7% BOND_Corp_Emerg 10% 3% -73% 2,2% 2,0% 0,5% 0,4% 0,8% 0,2% -0,5% 2,0% 1,3% 1,1% -1,1% -4,0% 20,8% -30,4% -12,2% -11,6% -38,3% BOND_High_Yeld_GL 76% 57% 16% -8% 21,3% * 12,3% * 2,1% * 7,8% * 1,5% 6,1% -4,5% 13,3% 2,8% 6,5% -6,6% 30,2% 36,4% 65,0% 45,2% -5,5% © MarkeTiming Research (ALL RIGHTS REDERVED) MarkeTiming Selection for the week of 28/1/2021 Stocks FTSE_MIB_(ITALY) Unstable DownTrend about -2,4% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from 0% to -5%. CAC_40_(FRANCE) Unstable DownTrend about -2% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from 0% to -4%. DAX_(GERMANY) Unstable DownTrend about -1% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from 5% to 0%. FTSE_100_(UK) Stable and aligned UpTrend Take a Long Position with a Tactical Adjustment on portfolio composition from 6% to 2%. Dow_ Jones_Ind_Av_(USA) Stable and aligned UpTrend about 1,4% in weekly progression. Bearish suppot under 30564. Increasing Volatility stance in a range of -2,2% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 7% to 0%. Nasdaq_100_(USA) Stable and aligned UpTrend about 4,4% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from 11% to 0%. Nikkei_225_(JAPAN) Stable and aligned UpTrend about 7,3% in weekly progression. Bullish resistence over 28846. Reducing Volatility stance in a range of 1,6% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from 15% to 0%. Hang_Seng_(HONG KONG) Stable and aligned UpTrend about 14,6% in weekly progression. Bullish resistence over 30191. Increasing Volatility stance in a range of 3,6% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 20% to 2%. Shanghai_Comp_(CHINA) Stable and aligned UpTrend about 6,6% in weekly progression. Bearish suppot under 3553. Increasing Volatility stance in a range of 2,3% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from 12% to -1%. BSE_Sensex_(INDIA) Stable and aligned UpTrend Take a Short Position with a Tactical Adjustment on portfolio composition from 12% to -2%. RTSI_(RUSSIA) Stable and aligned UpTrend Take a Long Position with a Tactical Adjustment on portfolio composition from 12% to 0%. Ibovespa_(BRAZIL) Unstable DownTrend about -4,8% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from -1% to -3%. Currency & Comodity EUR/USD Unstable DownTrend about -0,5% in weekly mitigation. Gold Unstable DownTrend about -1,3% in weekly mitigation. Take a Long Position with a Tactical Adjustment on portfolio composition from -8% to 8%. Crude_Oil_WTI Stable and aligned UpTrend about 10,7% in weekly progression. Bearish suppot under 51. Increasing Volatility stance in a range of 4,4% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from 78% to -3%. Natural_Gas Unstable UpTrend Take a Long Position with a Tactical Adjustment on portfolio composition from -25% to 75%. Agricolture Unstable UpTrend Bond BGOV_ITA_BTP Unstable DownTrend about -1,1% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from -8% to 0%. BGOV_GERM_BUND Unstable DownTrend about 0% in weekly mitigation. BGOV_UK_GILT Stable and aligned DownTrend about -0,2% in weekly mitigation. Take a Long Position with a Tactical Adjustment on portfolio composition from -5% to 2%. BGOV_USA_Treasury Stable and aligned DownTrend about -0,6% in weekly mitigation. Take a Long Position with a Tactical Adjustment on portfolio composition from -7% to 0%. BGOV_Emerg_Mrkt_Loc Unstable DownTrend about -2,8% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from -20% to 0%. BOND_Corp_Europa Unstable DownTrend about -0,4% in weekly mitigation. Take a Short Position with a Tactical Adjustment on portfolio composition from 0% to -3%. BOND_Corp_Usa Stable and aligned DownTrend about -0,4% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from -5% to 1%. BOND_Corp_Emerg Stable and aligned UpTrend Take a Short Position with a Tactical Adjustment on portfolio composition from 6% to 0%. BOND_High_Yeld_GL Stable and aligned UpTrend Take a Long Position with a Tactical Adjustment on portfolio composition from 63% to 2%. © MarkeTiming Research (ALL RIGHTS REDERVED) MarkeTiming Selection for the week of 25/1/2021 This Report is a rappresentative study of markets stance and does not constitute an investment advisory service. MARKET SELECTION weekly outlook TREND STABILITY PRIMARY TREND trend evolution VOLATILITY STANCE range evolution VOLATILITY DINAMIC volatility evolution TIMING RESISTENCE SUPPORT POWER Stability Trend Dynamic Timing Power LONG TERM MEDIUM TERM SHORT TERM 08/gen 15/gen 22/gen 08/gen 15/gen 22/gen 08/gen 15/gen 22/gen 22/gen 22/gen 22/gen Stocks FTSE_MIB_(ITALY) -13% -26% 13,3% 8,0% 0,0% -0,2% 2,5% -1,8% -1,3% 4,8% 4,0% -2,8% -4,0% -14,9% 7,5% -62,9% * -24,5% -1,5% -53,4% CAC_40_(FRANCE) -10% 11,6% 6,7% -0,1% * 0,7% 1,9% -1,7% -0,9% 4,4% 3,4% -2,5% -2,7% -17,3% -2,7% -36,7% -18,9% -3,8% DAX_(GERMANY) 6% 10,2% 5,7% * 0,2% 2,1% 2,4% -1,9% 0,6% 4,9% 4,0% -2,6% 2,3% -13,1% 0,5% -41,6% 9,4% -1,6% FTSE_100_(UK) 6% 9,3% * 7,6% 0,5% 3,0% 4,8% -2,0% -0,6% 7,0% 6,5% -2,9% -1,9% 29,8% 72,1% * -53,0% -11,0% Dow_ Jones_Ind_Av_(USA) 7% -9% 12,9% 6,3% 0,8% 2,6% 2,3% -0,9% 0,6% 4,5% 4,2% -2,0% 2,1% -35,6% -47,7% -39,5% -17,3% Nasdaq_100_(USA) 11% 13% 25% 18,8% 8,9% 1,8% 5,2% 2,0% -2,2% * 4,3% * 6,8% 4,4% -2,1% 5,0% -27,7% -71,3% * -20,4% -0,6% 53,3% Nikkei_225_(JAPAN) 13% 18% 21,5% 12,3% 2,5% 7,4% 2,5% 1,4% 0,4% 9,2% 4,1% 4,6% 2,6% 26,6% -8,1% 25,7% * -5,2% Hang_Seng_(HONG KONG) 13% 29% 27% 17,0% 13,9% 5,3% * 11,6% * 2,7% 2,5% 3,1% 14,4% * 3,0% 3,1% 5,9% * 40,8% * 37,8% 17,5% 52,9% * Shanghai_Comp_(CHINA) 7% 18% 11,3% 6,6% 1,8% 7,2% 4,6% -0,1% 1,1% 8,0% 3,7% -2,9% * 2,5% 9,6% 15,1% -3,5% 8,6% BSE_Sensex_(INDIA) 15% 10% 26,8% * 13,6% 1,6% 4,1% 2,2% 0,5% -0,3% 8,8% 2,6% -2,0% -3,6% -10,7% 11,5% -44,4% -13,1% -1,3% RTSI_(RUSSIA) 13% -22% 18,0% 15,0% * 1,8% 2,9% 5,7% * 0,5% -3,8% 11,8% 6,6% * 3,8% -5,9% 6,4% 52,9% -3,4% -43,3% * -1,8% Ibovespa_(BRAZIL) 8% -12% -20% -49% 9,9% 12,5% 0,6% -4,9% * -2,6% * 7,0% * -9,5% * -10,5% * -5,0% * 6,3% * -10,4% * -40,4% * -62,6% -4,3% -38,2% -8,5% -95,1% Currency & Comodity EUR/USD 4,3% 1,5% -0,6% -0,1% -0,6% -1,2% 0,7% 2,4% -1,3% -1,2% 1,1% -2,2% 0,1% -7,2% -4,1% Gold -5% -12% 11% 0,0% -1,6% -1,4% -1,5% -2,6% -1,2% 1,6% -8,4% -6,9% -2,5% 3,8% -13,9% -40,0% -18,2% 11,1% Crude_Oil_WTI 95% 62% -71% 37% 34,3% * 20,2% * 3,5% * 7,6% * 8,6% -0,7% -0,3% 15,1% 10,6% -4,5% -4,5% -14,3% -12,3% -12,3% -73,1% 0,5% Natural_Gas -26% -18% 11,3% -5,5% * -2,4% * -3,2% * 11,0% 2,1% -11,0% -23,7% 7,4% 10,9% -9,8% 7,3% 18,1% 12,3% -18,3% Agricolture -63% -1,7% * -1,1% 0,5% 0,2% 0,1% 1,1% -0,4% 2,1% -1,2% 1,3% -1,0% 12,4% 22,1% 9,4% -8,7% -0,9% Bond BGOV_ITA_BTP -8% -18% -31% 2,9% 0,0% -0,3% -1,1% 0,1% -0,7% -1,0% -1,8% 0,6% -1,1% -1,3% -28,5% 16,8% -40,7% -61,3% -4,8% -48,1% BGOV_GERM_BUND -17% -24% 0,1% -0,3% -0,1% -0,3% -0,2% 0,2% -0,3% -1,0% -0,5% 0,7% -0,6% -17,4% 7,4% -2,4% -54,9% 0,1% -41,5% BGOV_UK_GILT -5% -5% -12% -1,5% -0,6% -0,3% -0,8% -1,0% -0,1% -0,3% -2,8% -2,0% -1,2% -1,0% -23,6% -30,0% -0,5% -39,1% BGOV_USA_Treasury -9% -6% -2,6% -1,7% * -0,3% -0,8% -1,1% 0,1% 0,1% -1,6% -1,4% 0,6% 0,2% 10,0% 5,1% 6,9% -4,5% BGOV_Emerg_Mrkt_Loc -20% -0,4% 0,2% -1,0% * -2,8% * -0,7% -1,0% -1,2% -3,7% -1,9% -2,3% -1,8% -16,5% -24,6% -11,7% -11,8% 0,2% BOND_Corp_Europa -13% 1,8% 0,2% -0,3% -0,4% 0,1% -0,6% -0,1% -1,0% 0,3% -0,7% -0,4% -26,2% 0,1% -34,5% -42,8% 3,2% BOND_Corp_Usa -5% -9% -24% -3,4% * -1,5% 0,4% -0,7% -1,4% 1,7% -0,9% -2,9% -2,6% 1,7% -1,5% -9,4% -6,2% 18,1% -29,1% -41,2% BOND_Corp_Emerg 10% 4% -21% 2,3% 2,0% 0,6% 0,5% 0,7% 0,2% -0,3% 2,0% 1,0% -1,1% -1,1% -0,4% 38,6% -31,8% -12,4% -36,4% BOND_High_Yeld_GL 77% 51% 32% 22,4% * 13,5% * 3,3% * 7,0% * 3,9% 5,1% -3,6% 13,3% 2,5% 6,1% -5,3% 29,5% 19,9% 45,0% 105,1% 6,5% © MarkeTiming Research (ALL RIGHTS REDERVED) MarkeTiming Selection for the week of 25/1/2021 Stocks FTSE_MIB_(ITALY) Unstable DownTrend about -0,1% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from 7% to -7%. CAC_40_(FRANCE) Stable and aligned UpTrend Take a Short Position with a Tactical Adjustment on portfolio composition from 6% to -6%. DAX_(GERMANY) Stable and aligned UpTrend about 2,1% in weekly progression. Bullish resistence over 14026. Increasing Volatility stance in a range of 2,3% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 5% to 0%. FTSE_100_(UK) Stable and aligned UpTrend Take a Short Position with a Tactical Adjustment on portfolio composition from 6% to 0%. Dow_ Jones_Ind_Av_(USA) Stable and aligned UpTrend about 2,6% in weekly progression. Bearish suppot under 30612. Increasing Volatility stance in a range of 2,1% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 6% to 0%. Nasdaq_100_(USA) Stable and aligned UpTrend about 5,1% in weekly progression. Bullish resistence over 13416. Increasing Volatility stance in a range of 4,9% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 7% to 7%. Nikkei_225_(JAPAN) Stable and aligned UpTrend about 7,3% in weekly progression. Bearish suppot under 28111. Increasing Volatility stance in a range of 2,5% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from 16% to -1%. Hang_Seng_(HONG KONG) Stable and aligned UpTrend about 11,6% in weekly progression. Bullish resistence over 30135. Increasing Volatility stance in a range of 5,8% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 17% to 3%. Shanghai_Comp_(CHINA) Stable and aligned UpTrend about 7,2% in weekly progression. Bearish suppot under 3544. Increasing Volatility stance in a range of 2,5% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 11% to 0%. BSE_Sensex_(INDIA) Stable and aligned UpTrend Take a Short Position with a Tactical Adjustment on portfolio composition from 14% to -1%. RTSI_(RUSSIA) Stable and aligned UpTrend Take a Short Position with a Tactical Adjustment on portfolio composition from 14% to -8%. Ibovespa_(BRAZIL) Unstable DownTrend about -4,8% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from 7% to -5%. Currency & Comodity EUR/USD Unstable DownTrend about -0,1% in weekly mitigation. Take a Long Position with a Tactical Adjustment on portfolio composition from -10% to 10%. Gold Stable DownTrend about -1,4% in weekly mitigation. Take a Long Position with a Tactical Adjustment on portfolio composition from -14% to 5%. Crude_Oil_WTI Stable and aligned UpTrend Take a Long Position with a Tactical Adjustment on portfolio composition from 57% to 21%. Natural_Gas Unstable DownTrend about -3,1% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from 19% to -32%. Agricolture Unstable UpTrend Take a Short Position with a Tactical Adjustment on portfolio composition from 6% to -6%. Bond BGOV_ITA_BTP Unstable DownTrend about -1,1% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from -1% to -6%. BGOV_GERM_BUND Unstable DownTrend about -0,2% in weekly progression. BGOV_UK_GILT Stable and aligned DownTrend about -0,7% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from -4% to 0%. BGOV_USA_Treasury Stable and aligned DownTrend about -0,8% in weekly mitigation. Take a Short Position with a Tactical Adjustment on portfolio composition from -6% to -1%. BGOV_Emerg_Mrkt_Loc Unstable DownTrend about -2,7% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from -9% to -10%. BOND_Corp_Europa Unstable DownTrend about -0,3% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from -2% to 2%. BOND_Corp_Usa Stable and aligned DownTrend about -0,6% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from -4% to 1%. BOND_Corp_Emerg Stable and aligned UpTrend Take a Long Position with a Tactical Adjustment on portfolio composition from 6% to 0%. BOND_High_Yeld_GL Stable and aligned UpTrend Take a Short Position with a Tactical Adjustment on portfolio composition from 70% to -6%. © MarkeTiming Research (ALL RIGHTS REDERVED) MarkeTiming Selection for the week of 18/1/2021 This Report is a rappresentative study of markets stance and does not constitute an investment advisory service. MARKET SELECTION weekly outlook TREND STABILITY PRIMARY TREND trend evolution VOLATILITY STANCE range evolution VOLATILITY DINAMIC volatility evolution TIMING RESISTENCE SUPPORT POWER Stability Trend Dynamic Timing Power LONG TERM MEDIUM TERM SHORT TERM 01/gen 08/gen 15/gen 01/gen 08/gen 15/gen 01/gen 08/gen 15/gen 15/gen 15/gen 15/gen Stocks FTSE_MIB_(ITALY) 8% -23% 6% 15,0% 9,7% 1,6% 1,8% 0,5% * 2,5% -1,8% 8,5% 2,1% 4,0% -2,8% -18,0% 7,5% -62,9% * 2,8% CAC_40_(FRANCE) 7% -13% -13% 13,2% 8,3% 1,2% 1,5% 1,4% 1,9% -1,7% 7,4% 2,7% 3,4% -2,5% -6,3% -2,7% -36,7% -6,4% DAX_(GERMANY) 6% -15% -4% 11,4% 6,5% * 1,3% 1,2% 1,0% 2,4% -1,9% 7,8% 3,2% 4,0% -2,6% -21,2% -19,0% 0,5% -41,6% -1,9% FTSE_100_(UK) 6% -19% 10,7% 9,1% 2,1% 3,2% 0,8% 4,8% -2,0% 8,8% 3,7% 6,5% -2,9% 11,4% 109,3% 72,1% * -53,0% Dow_ Jones_Ind_Av_(USA) 6% -14% 13,6% 6,9% 1,5% 2,1% 0,7% 2,3% -0,9% 4,8% * 1,8% 4,2% -2,0% -18,0% -44,1% * -47,7% -39,5% Nasdaq_100_(USA) 8% 17,9% 7,9% 0,9% 0,6% * 1,1% 2,0% -2,2% * 4,9% 2,1% 4,4% -2,1% -22,4% -2,1% -71,3% * -20,4% Nikkei_225_(JAPAN) 11% 23% 17% 21,7% 12,7% 3,4% 6,6% 2,9% * 2,5% 1,4% 9,5% 4,4% 4,1% 4,6% 8,4% 130,4% * -8,1% 25,7% * 8,3% Hang_Seng_(HONG KONG) 8% 27% 12,6% 10,3% 3,7% 7,8% * 2,9% 2,7% 2,5% 9,8% 4,1% 3,0% 3,1% 18,0% * 69,1% 37,8% 17,5% Shanghai_Comp_(CHINA) 6% 17% -3% 11,4% 6,6% 2,8% 5,1% 1,5% 4,6% -0,1% 7,7% 1,8% 3,7% -2,9% * 8,3% 15,1% 15,1% -3,5% -1,6% BSE_Sensex_(INDIA) 14% 15% -16% -18% 28,4% * 15,2% 3,2% 4,4% 1,6% 2,2% 0,5% 10,1% 4,0% 2,6% -2,0% -28,6% -2,7% 11,5% -44,4% -9,1% RTSI_(RUSSIA) 12% 18% -4% 19,9% 17,4% * 4,3% * 5,1% 0,7% 5,7% * 0,5% 12,6% * 5,0% * 6,6% * 3,8% 3,9% -4,2% 52,9% -3,4% -1,8% Ibovespa_(BRAZIL) 7% 36% 10,1% * 14,2% 0,7% * 2,6% 0,9% -2,6% * 7,0% * 8,2% -2,6% * -5,0% * 6,3% * -49,5% * -14,0% -62,6% -4,3% -30,2% 48,1% Currency & Comodity EUR/USD -11% -44% 4,9% 2,0% -0,4% -1,4% 0,9% -0,6% -1,2% -2,2% 1,3% -1,3% -1,2% -8,2% 4,2% 0,1% -7,2% -2,3% -49,5% Gold -4% -24% -42% -4% 0,0% -2,1% * -1,9% * -3,2% * 0,8% -2,6% -1,2% -7,6% 2,2% -6,9% -2,5% -26,1% -6,2% -40,0% -18,2% -5,2% Crude_Oil_WTI 69% 46% -29% -2% 37,2% * 22,8% * 6,1% * 6,3% * 0,1% 8,6% -0,7% 15,4% 5,8% 10,6% -4,5% -17,8% 34,3% -12,3% -12,3% -2,4% Natural_Gas 27% 12% 29% 20,7% 2,0% 3,2% 1,6% -4,0% 11,0% 2,1% 23,4% -19,1% 7,4% 10,9% 7,5% 3,6% 18,1% 12,3% 1,3% Agricolture 7% 50% -2,2% * -1,7% 0,2% 0,9% -0,6% 0,1% 1,1% 1,9% -0,7% -1,2% 1,3% -0,1% 44,0% 22,1% 9,4% 7,3% 52,1% Bond BGOV_ITA_BTP -2% -24% -17% 3,4% 0,5% -0,2% -0,4% 0,4% 0,1% -0,7% -1,7% 0,5% 0,6% -1,1% 3,7% -16,7% 16,8% -40,7% -5,7% -41,0% BGOV_GERM_BUND 15% 0,1% -0,3% -0,2% -0,1% 0,1% -0,2% 0,2% -1,2% -0,5% -0,5% 0,7% -14,3% -57,1% 7,4% -2,4% -5,3% 45,3% BGOV_UK_GILT -5% -3% 12% -1,6% -0,7% -0,7% -0,7% 0,6% -1,0% -0,1% -2,8% -2,4% -2,0% -1,2% 2,1% -55,0% -30,0% -0,5% 34,1% BGOV_USA_Treasury -9% -4% -5% -2,8% -2,0% -0,7% -0,8% 0,1% -1,1% 0,1% -1,6% 0,4% -1,4% 0,6% 5,6% 21,8% 5,1% 6,9% -13,9% BGOV_Emerg_Mrkt_Loc -10% 0,2% 0,9% -0,9% * -2,0% * 0,2% -0,7% -1,0% -3,3% -0,7% -1,9% -2,3% -5,3% -20,3% -24,6% -11,7% 1,7% BOND_Corp_Europa -2% -20% -28% 2,2% 0,6% -0,2% -0,5% 0,2% 0,1% -0,6% -0,9% 0,4% 0,3% -0,7% -25,3% -24,4% 0,1% -34,5% -3,8% -71,4% BOND_Corp_Usa -10% 1% 11% 20% -4,0% * -2,2% * -0,2% 0,3% 0,0% -1,4% 1,7% -3,2% -0,9% -2,6% 1,7% -11,7% -10,1% -6,2% 18,1% 12,9% 42,0% BOND_Corp_Emerg 7% 5% -19% 2,0% 1,8% 0,6% 1,0% -0,1% 0,7% 0,2% 2,1% 0,8% 1,0% -1,1% 15,4% 6,2% 38,6% -31,8% BOND_High_Yeld_GL 68% 72% 26% 3% 22,1% * 14,1% * 5,6% * 15,0% * 1,6% 3,9% 5,1% 16,3% 3,5% 2,5% 6,1% 20,9% 7,6% 19,9% 45,0% 8,3% © MarkeTiming Research (ALL RIGHTS REDERVED) MarkeTiming Selection for the week of 18/1/2021 Stocks FTSE_MIB_(ITALY) Stable and aligned UpTrend Take a Short Position with a Tactical Adjustment on portfolio composition from 9% to -1%. CAC_40_(FRANCE) Stable and aligned UpTrend Take a Short Position with a Tactical Adjustment on portfolio composition from 8% to -1%. DAX_(GERMANY) Stable and aligned UpTrend Take a Short Position with a Tactical Adjustment on portfolio composition from 10% to -7%. FTSE_100_(UK) Stable and aligned UpTrend Take a Short Position with a Tactical Adjustment on portfolio composition from 7% to 0%. Dow_ Jones_Ind_Av_(USA) Stable and aligned UpTrend Take a Short Position with a Tactical Adjustment on portfolio composition from 7% to 0%. Nasdaq_100_(USA) Stable and aligned UpTrend Take a Short Position with a Tactical Adjustment on portfolio composition from 12% to -8%. Nikkei_225_(JAPAN) Stable and aligned UpTrend about 6,5% in weekly progression. Bearish suppot under 27667. Increasing Volatility stance in a range of 4,5% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 11% to 5%. Hang_Seng_(HONG KONG) Stable and aligned UpTrend about 7,8% in weekly progression. Bullish resistence over 28667. Increasing Volatility stance in a range of 3,1% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 10% to 7%. Shanghai_Comp_(CHINA) Stable and aligned UpTrend Take a Long Position with a Tactical Adjustment on portfolio composition from 10% to 1%. BSE_Sensex_(INDIA) Stable and aligned UpTrend about 4,4% in weekly progression. Bearish suppot under 48795. Reducing Volatility stance in a range of -2% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from 14% to 0%. RTSI_(RUSSIA) Stable and aligned UpTrend about 5,1% in weekly progression. Bearish suppot under 1450. Increasing Volatility stance in a range of 3,7% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 14% to 0%. Ibovespa_(BRAZIL) Stable UpTrend about 2,6% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from 0% to 7%. Currency & Comodity EUR/USD Unstable DownTrend about -1,4% in weekly progression. Bullish resistence over 1. Increasing Volatility stance in a range of -1,2% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from 9% to -10%. Gold Stable DownTrend about -3,2% in weekly progression. Bullish resistence over 1863. Increasing Volatility stance in a range of -2,4% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from 8% to -18%. Crude_Oil_WTI Stable and aligned UpTrend Take a Long Position with a Tactical Adjustment on portfolio composition from 56% to 1%. Natural_Gas Stable UpTrend about 1,6% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from 32% to -12%. Agricolture Unstable UpTrend about 0,9% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from -5% to 6%. Bond BGOV_ITA_BTP Unstable DownTrend about -0,3% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from 8% to -5%. BGOV_GERM_BUND Unstable DownTrend about -0,1% in weekly mitigation. Take a Long Position with a Tactical Adjustment on portfolio composition from -2% to 2%. BGOV_UK_GILT Stable and aligned DownTrend about -0,6% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from -2% to -2%. BGOV_USA_Treasury Stable and aligned DownTrend about -0,8% in weekly mitigation. Take a Short Position with a Tactical Adjustment on portfolio composition from -6% to 0%. BGOV_Emerg_Mrkt_Loc Unstable DownTrend about -2% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from -3% to -6%. BOND_Corp_Europa Unstable DownTrend about -0,4% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from 6% to -4%. BOND_Corp_Usa Unstable UpTrend about 0,3% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from -13% to 9%. BOND_Corp_Emerg Stable and aligned UpTrend about 1% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from 3% to 2%. BOND_High_Yeld_GL Stable and aligned UpTrend about 14,9% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from 64% to 6%. © MarkeTiming Research (ALL RIGHTS REDERVED) MarkeTiming Selection for the week of 11/1/2021 This Report is a rappresentative study of markets stance and does not constitute an investment advisory service. MARKET SELECTION weekly outlook TREND STABILITY PRIMARY TREND trend evolution VOLATILITY STANCE range evolution VOLATILITY DINAMIC volatility evolution TIMING RESISTENCE SUPPORT POWER Stability Trend Dynamic Timing Power LONG TERM MEDIUM TERM SHORT TERM 23/dic 30/dic 06/gen 23/dic 30/dic 06/gen 23/dic 30/dic 06/gen 06/gen 06/gen 06/gen Stocks FTSE_MIB_(ITALY) 9% 15,3% 10,1% 1,9% 3,8% 0,7% * 0,5% * 2,5% 8,6% -5,0% 2,1% 4,0% -15,6% -33,9% -8,4% CAC_40_(FRANCE) 8% 13,5% 8,5% 1,3% 2,9% -0,4% 1,3% 1,9% 7,4% -5,1% 2,7% 3,4% -1,1% 10,5% 10,0% DAX_(GERMANY) 7% 13% 11,7% 6,3% 2,0% 5,3% 0,2% 1,0% 2,4% 8,2% 5,3% * 3,2% 4,0% -18,8% -29,9% -19,0% 0,5% 11,6% FTSE_100_(UK) 7% 21% 29% 10,2% 8,9% 2,0% 4,7% -1,1% 0,9% 4,8% 8,9% -4,4% 3,7% 6,5% 14,1% * -40,2% 109,3% 72,1% * 20,1% 70,2% Dow_ Jones_Ind_Av_(USA) 7% -14% 23% 13,3% 6,3% 1,2% 3,6% -0,2% 0,9% 2,3% 4,7% -1,9% 1,8% 4,2% -15,3% 35,5% * -44,1% * -47,7% 20,4% 51,9% Nasdaq_100_(USA) 9% 16% -21% 21% 18,4% 7,7% 1,0% 6,3% -0,1% 1,5% 2,0% 6,9% 2,5% 2,1% 4,4% -26,5% * 2,8% -2,1% -71,3% * 18,1% 46,9% Nikkei_225_(JAPAN) 11% 12% 19,0% 10,3% 1,6% 4,9% -0,9% 3,5% * 2,5% 6,6% -2,0% 4,4% 4,1% 1,2% -62,1% 130,4% * -8,1% -6,8% Hang_Seng_(HONG KONG) 7% 13% 11% 10,4% 8,3% 2,9% 5,2% -0,4% 3,1% 2,7% 7,2% -2,6% 4,1% 3,0% 8,9% -12,0% 69,1% 37,8% 9,0% Shanghai_Comp_(CHINA) 7% 15% 10,9% 5,8% * 3,2% * 5,9% 0,5% 0,9% 4,6% 7,6% -2,0% 1,8% 3,7% 2,7% 4,8% 15,1% 15,1% 4,1% BSE_Sensex_(INDIA) 15% 14% 27,3% * 14,3% 2,7% 5,8% -0,5% 2,8% 2,2% 8,3% -4,6% 4,0% 2,6% -13,9% -85,8% -2,7% 11,5% -6,5% RTSI_(RUSSIA) 12% 17% 15% 18% 16,8% 14,7% * 2,3% 6,9% * -2,4% * 1,5% 5,7% * 11,0% * -7,7% * 5,0% * 6,6% * 10,7% -35,1% -4,2% 52,9% 14,1% 43,1% Ibovespa_(BRAZIL) -18% -9% 8,2% * 13,6% -0,3% * -0,6% * -1,3% 0,9% -2,6% * -6,8% * -4,8% -2,6% * -5,0% * -20,8% -90,6% * -14,0% -62,6% -28,7% Currency & Comodity EUR/USD 10% -5% 6,2% 3,1% 0,5% 1,2% 0,2% 0,8% -0,6% 2,4% 1,2% 1,3% -1,3% -11,0% -24,3% 4,2% 0,1% -7,3% Gold 8% -43% -45% 4,3% 1,6% 2,2% 0,6% 0,6% 1,1% -2,6% -7,4% 3,3% 2,2% -6,9% -29,3% -19,1% -6,2% -40,0% -23,3% -42,8% Crude_Oil_WTI 54% 58% -13% 47% 32,0% * 18,0% * 3,4% * 15,3% * 0,6% 0,6% 8,6% 15,6% -6,3% 5,8% 10,6% -5,0% -57,7% 34,3% -12,3% 13,8% 55,9% Natural_Gas 22% 42% 20% 3% 19,2% 0,2% 2,3% 11,2% -2,6% -7,1% 11,0% 20,3% 7,2% -19,1% 7,4% 11,2% -0,7% 3,6% 18,1% 4,9% Agricolture -6% 24% -2,6% * -2,3% * -0,5% * -3,0% * 0,1% -0,6% 0,1% -3,9% -1,3% -0,7% -1,2% -4,6% -58,6% 44,0% 22,1% Bond BGOV_ITA_BTP 8% 13% 4,0% 1,1% 0,0% -0,1% -0,3% 0,4% 0,1% -1,2% -1,1% 0,5% 0,6% 34,7% 67,4% -16,7% 16,8% 0,8% BGOV_GERM_BUND -3% 0,3% 0,0% -0,2% -0,5% -0,2% 0,1% -0,2% -0,9% -0,6% -0,5% -0,5% -17,2% -37,7% -57,1% 7,4% 11,6% BGOV_UK_GILT -3% -23% -22% -0,7% 0,1% -0,1% -0,5% -0,3% 1,2% -1,0% 2,6% 2,4% -2,4% -2,0% 7,0% 50,5% -55,0% -30,0% -59,0% BGOV_USA_Treasury -7% -5% -25% -2,3% -1,7% -0,4% -1,0% -0,1% 0,1% -1,1% -1,6% 0,4% 0,4% -1,4% 9,9% -11,7% 21,8% 5,1% -65,1% BGOV_Emerg_Mrkt_Loc -3% -19% -30% 1,4% 2,1% -0,1% -0,6% -0,2% 0,2% -0,7% -1,9% -1,5% -0,7% -1,9% -5,2% 41,0% -20,3% -24,6% -4,9% -72,8% BOND_Corp_Europa 6% 2,8% 1,1% 0,1% 0,0% -0,1% 0,2% 0,1% 0,6% 0,4% 0,4% 0,3% -19,7% -38,2% -24,4% 0,1% 0,0% BOND_Corp_Usa -14% -14% -4,6% * -2,9% * -1,0% * -2,6% * -0,4% 0,0% -1,4% -3,5% -1,4% -0,9% -2,6% -15,3% -29,5% -10,1% -6,2% 0,2% BOND_Corp_Emerg 5% 3% 30% 23% 1,6% 1,2% 0,2% 0,5% 0,4% -0,1% 0,7% 1,5% -1,0% 0,8% 1,0% 3,0% 34,7% 6,2% 38,6% 5,1% 56,2% BOND_High_Yeld_GL 60% 69% 15% 19,0% * 12,1% * 5,9% * 12,5% * 4,8% 1,6% 3,9% 13,2% 3,0% 3,5% 2,5% 14,3% 22,4% 7,6% 19,9% 13,9% © MarkeTiming Research (ALL RIGHTS REDERVED) MarkeTiming Selection for the week of 9/1/2020 Stocks FTSE_MIB_(ITALY) Stable and aligned UpTrend about 3,7% in weekly progression. Bullish resistence over 23003. Increasing Volatility stance in a range of 3,9% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from 10% to -1%. CAC_40_(FRANCE) Stable and aligned UpTrend about 2,8% in weekly progression. Bullish resistence over 5721. Increasing Volatility stance in a range of 3,3% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from 9% to -1%. DAX_(GERMANY) Stable and aligned UpTrend about 5,3% in weekly progression. Bullish resistence over 14131. Increasing Volatility stance in a range of 4% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from 10% to 0%. FTSE_100_(UK) Stable and aligned UpTrend about 4,7% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from 0% to 7%. Dow_ Jones_Ind_Av_(USA) Stable and aligned UpTrend about 3,6% in weekly progression. Bullish resistence over 31193. Increasing Volatility stance in a range of 4,2% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from 8% to -1%. Nasdaq_100_(USA) Stable and aligned UpTrend about 6,3% in weekly progression. Bullish resistence over 13106. Increasing Volatility stance in a range of 4,4% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from 13% to 0%. Nikkei_225_(JAPAN) Stable and aligned UpTrend about 4,9% in weekly progression. Bullish resistence over 28139. Increasing Volatility stance in a range of 4,1% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 12% to 5%. Hang_Seng_(HONG KONG) Stable and aligned UpTrend about 5,1% in weekly progression. Bullish resistence over 27920. Increasing Volatility stance in a range of 3% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 0% to 10%. Shanghai_Comp_(CHINA) Stable and aligned UpTrend about 5,8% in weekly progression. Bullish resistence over 3588. Increasing Volatility stance in a range of 3,6% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 0% to 10%. BSE_Sensex_(INDIA) Stable and aligned UpTrend about 5,8% in weekly progression. Bullish resistence over 48854. Increasing Volatility stance in a range of 2,5% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from 24% to -9%. RTSI_(RUSSIA) Stable and aligned UpTrend about 6,8% in weekly progression. Bullish resistence over 1481. Increasing Volatility stance in a range of 6,5% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 13% to 0%. Ibovespa_(BRAZIL) Unstable DownTrend about -0,5% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from 17% to -17%. Currency & Comodity EUR/USD Stable and aligned UpTrend Take a Short Position with a Tactical Adjustment on portfolio composition from 10% to -5%. Gold Stable UpTrend Take a Short Position with a Tactical Adjustment on portfolio composition from 13% to -2%. Crude_Oil_WTI Stable and aligned UpTrend about 15,3% in weekly progression. Bullish resistence over 52. Increasing Volatility stance in a range of 10,5% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 51% to 4%. Natural_Gas Stable UpTrend about 11,1% in weekly progression. Bullish resistence over 2. Increasing Volatility stance in a range of 7,3% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from -46% to 55%. Agricolture Stable and aligned DownTrend about -3% in weekly mitigation. Take a Long Position with a Tactical Adjustment on portfolio composition from -8% to 5%. Bond BGOV_ITA_BTP Unstable DownTrend about 0% in weekly mitigation. Take a Long Position with a Tactical Adjustment on portfolio composition from 0% to 8%. BGOV_GERM_BUND Unstable DownTrend about -0,4% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from 0% to -2%. BGOV_UK_GILT Unstable DownTrend about -0,5% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from 5% to -7%. BGOV_USA_Treasury Stable and aligned DownTrend about -0,9% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from -7% to -2%. BGOV_Emerg_Mrkt_Loc Unstable DownTrend about -0,5% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from 10% to -11%. BOND_Corp_Europa Unstable DownTrend about 0% in weekly mitigation. Take a Long Position with a Tactical Adjustment on portfolio composition from 0% to 6%. BOND_Corp_Usa Stable and aligned DownTrend about -2,6% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from -12% to -1%. BOND_Corp_Emerg Stable and aligned UpTrend about 0,5% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from 6% to 0%. BOND_High_Yeld_GL Stable and aligned UpTrend about 12,5% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from 61% to 2%. © MarkeTiming Research (ALL RIGHTS REDERVED) MarkeTiming Selection for the week of 04/01/2021 This Report is a rappresentative study of markets stance and does not constitute an investment advisory service. MARKET SELECTION weekly outlook TREND STABILITY PRIMARY TREND trend evolution VOLATILITY STANCE range evolution VOLATILITY DINAMIC volatility evolution TIMING RESISTENCE SUPPORT POWER Stability Trend Dynamic Timing Power LONG TERM MEDIUM TERM SHORT TERM 16/dic 23/dic 30/dic 16/dic 23/dic 30/dic 16/dic 23/dic 30/dic 30/dic 30/dic 30/dic Stocks FTSE_MIB_(ITALY) 11% 14,3% 9,2% 0,9% 1,2% 0,1% 0,7% * 0,5% * 5,9% -3,2% -5,0% 2,1% -29,3% * -26,4% -33,9% 8,6% CAC_40_(FRANCE) 9% 16% 12,9% 8,0% 0,4% 0,3% 0,0% -0,4% 1,3% 5,7% -2,4% -5,1% 2,7% -5,7% -11,1% 10,5% 3,5% 39,9% DAX_(GERMANY) 8% 13% 11,2% 5,3% 1,8% 3,0% 1,7% 0,2% 1,0% 6,6% 3,3% 5,3% * 3,2% -20,1% -24,8% -29,9% -19,0% 5,2% FTSE_100_(UK) 31% 7,6% 6,6% 0,0% 1,4% 0,1% -1,1% 0,9% 5,5% -2,4% -4,4% 3,7% -2,5% -2,1% -40,2% 109,3% 7,4% Dow_ Jones_Ind_Av_(USA) 8% -13% 12,9% 5,5% 0,6% 1,8% 0,5% -0,2% 0,9% 3,3% -1,7% -1,9% 1,8% -7,4% -17,9% 35,5% * -44,1% * 2,4% Nasdaq_100_(USA) 13% 13% 19,6% 7,9% 1,5% 3,1% 2,8% * -0,1% 1,5% 5,5% -3,3% * 2,5% 2,1% -23,3% -37,8% * 2,8% -2,1% -3,0% Nikkei_225_(JAPAN) 12% 37% 26% 18,1% 9,5% 0,5% 2,4% -0,2% * -0,9% 3,5% * 4,6% 1,3% -2,0% 4,4% 0,3% 17,0% -62,1% 130,4% * 2,8% 69,6% Hang_Seng_(HONG KONG) 20% 35% 6,5% * 4,7% -0,1% 2,3% -0,2% -0,4% 3,1% 4,4% -2,2% -2,6% 4,1% -13,7% -18,7% -12,0% 69,1% 4,7% 91,7% Shanghai_Comp_(CHINA) 6,9% 1,7% * -0,2% * -1,0% * -0,1% 0,5% 0,9% -4,1% * -2,9% -2,0% 1,8% -11,7% -31,6% 4,8% 15,1% 3,7% BSE_Sensex_(INDIA) 18% 31% 24% 25,7% * 12,9% 1,9% * 7,0% * 1,2% -0,5% 2,8% 7,8% 1,5% -4,6% 4,0% -24,4% 14,3% -85,8% -2,7% 20,6% 46,0% RTSI_(RUSSIA) 11% 17% 13,6% 11,4% 0,1% 3,9% 2,0% -2,4% * 1,5% 9,3% 5,2% * -7,7% * 5,0% * -1,9% 23,4% -35,1% -4,2% 11,9% Ibovespa_(BRAZIL) 11% 25% 8,3% 15,2% * 0,8% 5,8% 2,5% -1,3% 0,9% 10,7% * 4,2% -4,8% -2,6% * 18,9% * 41,9% * -90,6% * -14,0% -0,7% Currency & Comodity EUR/USD 15% 6% 47% 6,0% 2,8% 0,4% 1,6% 0,8% 0,2% 0,8% 2,2% 1,0% 1,2% 1,3% -18,5% -17,7% -24,3% 4,2% 3,1% 50,0% Gold 13% 2,6% -0,6% 1,1% 3,5% 1,6% 0,6% 1,1% 5,4% -2,9% 3,3% 2,2% -37,4% -35,1% -19,1% -6,2% 3,9% Crude_Oil_WTI 77% 26% 44% 10% 29,3% * 14,5% * 1,8% * 6,7% * 4,9% 0,6% 0,6% 11,3% 5,9% -6,3% 5,8% 2,7% 21,9% -57,7% 34,3% 11,8% Natural_Gas -46% -42% 11,9% -6,9% * -3,7% * -12,0% * 10,7% -2,6% -7,1% -25,3% 12,4% 7,2% -19,1% -3,4% 55,7% -0,7% 3,6% -47,8% Agricolture -8% -9% 56% -2,1% * -2,0% -0,7% -2,2% -2,6% 0,1% -0,6% -3,5% -2,7% -1,3% -0,7% -13,0% -1,5% -58,6% 44,0% Bond BGOV_ITA_BTP -11% 4,1% 1,2% 0,0% 0,3% -0,2% -0,3% 0,4% 1,3% -0,6% -1,1% 0,5% 43,7% 56,6% 67,4% -16,7% -14,7% BGOV_GERM_BUND -32% -4% 0,5% 0,1% -0,1% 0,3% -0,2% -0,2% 0,1% 1,0% 0,5% -0,6% -0,5% -29,3% -18,2% -37,7% -57,1% -5,6% BGOV_UK_GILT -3% 15% -31% 44% -1,0% -0,1% -0,1% 2,0% -0,5% -0,3% 1,2% 3,1% 2,2% 2,4% -2,4% 24,3% 12,9% 50,5% -55,0% 2,7% 54,3% BGOV_USA_Treasury -8% 12% -1,9% -1,3% 0,0% 0,3% 0,2% -0,1% 0,1% 0,8% 0,6% 0,4% 0,4% 11,6% 21,3% -11,7% 21,8% BGOV_Emerg_Mrkt_Loc 10% 10% -11% -8% 1,7% 2,5% 0,1% 1,4% 0,2% -0,2% 0,2% 2,2% 0,9% -1,5% -0,7% 1,2% -11,6% 41,0% -20,3% -10,1% BOND_Corp_Europa -14% -3% 2,8% 1,0% 0,0% 0,4% -0,2% -0,1% 0,2% 0,8% -0,3% 0,4% 0,4% -22,1% -8,5% -38,2% -24,4% -3,9% BOND_Corp_Usa -14% -11% -18% -3,5% * -1,9% * -0,4% * -1,5% * -0,9% -0,4% 0,0% -2,8% -1,2% -1,4% -0,9% -22,1% -14,5% -29,5% -10,1% -22,7% BOND_Corp_Emerg 7% 1,7% 1,0% 0,1% -0,1% -0,4% 0,4% -0,1% 1,4% -0,9% -1,0% 0,8% 1,2% -51,7% 34,7% 6,2% -0,7% BOND_High_Yeld_GL 59% 65% 12% 13,5% * 7,8% * 3,6% * 8,9% * 1,7% 4,8% 1,6% 9,4% 2,3% 3,0% 3,5% 15,0% 6,1% 22,4% 7,6% 15,1% © MarkeTiming Research (ALL RIGHTS REDERVED) MarkeTiming Selection for the week of 33/12/2020 Stocks FTSE_MIB_(ITALY) Stable and aligned UpTrend about 1,1% in weekly progression. Bullish resistence over 22395. Increasing Volatility stance in a range of 2,1% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 0% to 10%. CAC_40_(FRANCE) Stable and aligned UpTrend about 0,2% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from 0% to 9%. DAX_(GERMANY) Stable and aligned UpTrend about 3% in weekly progression. Bullish resistence over 13903. Increasing Volatility stance in a range of 3,2% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 8% to 1%. FTSE_100_(UK) Stable and aligned UpTrend about 1,4% in weekly progression. Bullish resistence over 6676. Increasing Volatility stance in a range of 3,7% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from 7% to -7%. Dow_ Jones_Ind_Av_(USA) Stable and aligned UpTrend about 1,8% in weekly progression. Bullish resistence over 30588. Increasing Volatility stance in a range of 1,7% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from 12% to -3%. Nasdaq_100_(USA) Stable and aligned UpTrend about 3% in weekly progression. Bullish resistence over 12925. Increasing Volatility stance in a range of 2,1% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from 17% to -4%. Nikkei_225_(JAPAN) Stable and aligned UpTrend about 2,3% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from 0% to 12%. Hang_Seng_(HONG KONG) Stable and aligned UpTrend about 2,3% in weekly progression. Shanghai_Comp_(CHINA) Unstable DownTrend about -1% in weekly mitigation. BSE_Sensex_(INDIA) Stable and aligned UpTrend about 7% in weekly progression. Bullish resistence over 47807. Increasing Volatility stance in a range of 4% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 23% to 0%. RTSI_(RUSSIA) Stable and aligned UpTrend about 3,8% in weekly progression. Bullish resistence over 1405. Increasing Volatility stance in a range of 5% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from 17% to -3%. Ibovespa_(BRAZIL) Stable UpTrend about 5,7% in weekly progression. Bearish suppot under 18410. Reducing Volatility stance in a range of -2,5% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from 21% to -3%. Currency & Comodity EUR/USD Stable and aligned UpTrend about 1,6% in weekly progression. Bullish resistence over 1. Increasing Volatility stance in a range of 1,2% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 9% to 1%. Gold Unstable UpTrend about 3,5% in weekly progression. Bullish resistence over 1904. Increasing Volatility stance in a range of 2,2% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from 13% to 0%. Crude_Oil_WTI Stable and aligned UpTrend about 6,6% in weekly progression. Bearish suppot under 46. Increasing Volatility stance in a range of 5,7% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 40% to 10%. Natural_Gas Unstable DownTrend about -11,9% in weekly progression. Bullish resistence over 2. Increasing Volatility stance in a range of -19,1% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from -9% to -13%. Agricolture Stable and aligned DownTrend about -2,2% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from -8% to 0%. Bond BGOV_ITA_BTP Stable and aligned UpTrend about 0,3% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from -4% to 4%. BGOV_GERM_BUND Stable and aligned UpTrend about 0,3% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from 0% to 0%. BGOV_UK_GILT Unstable UpTrend about 2% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from 4% to 3%. BGOV_USA_Treasury Unstable UpTrend about 0,2% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from -11% to 7%. BGOV_Emerg_Mrkt_Loc Stable UpTrend about 1,4% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from 7% to 2%. BOND_Corp_Europa Stable and aligned UpTrend about 0,4% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from 10% to -10%. BOND_Corp_Usa Stable and aligned DownTrend about -1,4% in weekly mitigation. Take a Long Position with a Tactical Adjustment on portfolio composition from -27% to 15%. BOND_Corp_Emerg Unstable DownTrend about -0,1% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from -3% to 4%. BOND_High_Yeld_GL Stable and aligned UpTrend about 8,8% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from 39% to 22%. © MarkeTiming Research (ALL RIGHTS REDERVED) MarkeTiming Selection for the week of 28/12/2020 This Report is a rappresentative study of markets stance and does not constitute an investment advisory service. MARKET SELECTION weekly outlook TREND STABILITY PRIMARY TREND trend evolution VOLATILITY STANCE range evolution VOLATILITY DINAMIC volatility evolution TIMING RESISTENCE SUPPORT POWER Stability Trend Dynamic Timing Power LONG TERM MEDIUM TERM SHORT TERM 10/dic 17/dic 24/dic 10/dic 17/dic 24/dic 10/dic 17/dic 24/dic 24/dic 24/dic 24/dic Stocks FTSE_MIB_(ITALY) 23% 12,9% 7,8% -0,7% -0,3% -0,4% 0,4% 0,5% * -5,9% * -2,4% 2,7% 4,9% * -27,4% -38,9% -10,6% -33,9% 5,4% 64,0% CAC_40_(FRANCE) 26% 11,6% 6,8% -1,1% * -0,8% -0,4% 0,0% -0,5% -5,6% -1,9% 2,2% -5,0% -6,7% -16,1% -18,1% * 27,7% 9,6% 69,5% DAX_(GERMANY) 10% 8% -16% 23% 10,2% 4,0% 0,7% 2,3% 0,3% 2,8% -0,6% 5,7% 2,2% 5,3% * -5,3% -13,0% -8,3% -17,6% -48,2% 1,1% 68,9% FTSE_100_(UK) 8% -21% 7,2% 6,2% -0,3% 2,2% 1,7% -0,7% * -0,7% 5,8% 2,3% -1,9% * -4,4% -16,5% 11,0% -2,3% -65,6% 1,5% Dow_ Jones_Ind_Av_(USA) 12% 13,0% 5,2% 0,4% 1,1% 0,1% 1,0% -0,3% 2,9% 1,5% 1,7% -1,9% -5,6% -23,9% -12,2% 35,5% * 2,9% Nasdaq_100_(USA) 18% 17% 19,5% 7,3% 1,3% 4,6% -0,6% 2,8% -0,3% 5,6% -3,3% * 4,2% -2,5% -23,3% -66,6% -4,0% Nikkei_225_(JAPAN) 17,5% 8,9% -0,1% 0,5% -0,2% 0,2% -0,5% 2,0% 1,5% 1,2% -2,0% -22,6% -1,5% -6,2% Hang_Seng_(HONG KONG) 6,2% * 4,3% -0,6% -1,6% * -1,2% 1,0% -1,1% -3,8% -2,3% 2,2% -2,5% -33,4% * -91,8% * -8,2% -24,5% -2,6% Shanghai_Comp_(CHINA) 7,3% 1,8% * -0,2% -0,2% -2,0% * 0,9% -1,2% -4,1% -2,7% 2,4% -2,0% -11,8% -40,4% 4,2% -12,4% -2,6% BSE_Sensex_(INDIA) 25% 22% -28% 27% 24,7% * 11,9% 1,3% 6,1% 3,0% 2,0% 0,2% 6,7% 3,3% 2,8% -4,6% -28,8% 14,3% -85,8% * 13,3% 67,0% RTSI_(RUSSIA) 16% 20% -18% 13,2% 10,7% 0,2% 5,4% 4,9% * 1,0% -2,9% * 11,2% 4,6% 3,6% -6,7% * 3,8% 45,9% * -12,1% -56,1% 3,8% Ibovespa_(BRAZIL) 19% 25% -17% 9,1% 17,1% * 2,9% * 6,8% * 2,4% 5,3% * -2,5% 11,2% * 4,6% * 5,0% -4,8% 15,5% * -19,2% 72,5% * -52,3% Currency & Comodity EUR/USD 11% 8% -27% -34% 6,1% 2,9% 0,6% 2,3% 0,0% 1,0% -0,7% 3,0% 1,0% 1,3% -1,2% -8,1% -41,4% 16,8% -69,8% -11,0% Gold 14% -27% -17% 2,8% -0,8% 1,7% 4,1% -0,2% 2,8% -0,4% 7,8% -2,5% 4,3% -2,8% -27,0% -92,4% 18,3% -70,0% -5,6% Crude_Oil_WTI 56% 24% 22% 30,5% * 14,9% * 2,7% * 7,3% * 3,1% 3,0% -0,2% 11,4% 6,0% 6,1% -6,4% 1,4% 24,5% 16,6% -27,0% 7,1% Natural_Gas 26% -45% 21,2% 0,2% 1,0% -13,6% * 2,4% 3,1% -4,7% -22,6% 9,5% 7,4% -10,8% -5,8% 55,7% -19,6% -3,2% Agricolture -6% -10% -45% -26% -2,1% * -2,1% * -1,2% * -3,0% -0,9% -0,9% 0,3% -4,0% -2,6% -1,3% 1,3% -18,2% 0,4% -1,8% -115,4% -8,3% Bond BGOV_ITA_BTP -4% -31% 4,2% 1,3% -0,1% -0,4% -0,1% 0,2% -0,5% -1,3% -0,6% 1,0% -0,5% 0,6% 56,6% 67,4% -16,7% -14,1% -35,3% BGOV_GERM_BUND 2% -4% -20% -4% 0,6% 0,3% 0,1% -0,3% 0,4% -0,2% -0,2% -1,0% 0,7% -0,7% -0,6% -35,3% -77,7% -12,7% -40,9% -6,3% BGOV_UK_GILT 4% 6% -0,8% 0,1% 0,3% 0,3% 2,1% -0,9% 0,1% 3,1% 2,4% -2,4% -2,4% 3,8% 49,7% -25,0% 15,3% 9,8% BGOV_USA_Treasury -9% -15% -4% -1,9% -1,4% -0,2% -1,2% 0,1% -0,3% 0,1% -1,9% 0,6% -0,5% 0,4% -5,0% 17,3% -0,9% 7,1% -6,5% BGOV_Emerg_Mrkt_Loc 11% 4% 20% 1,7% 2,6% 0,2% 0,3% 1,2% 0,5% -0,7% 2,2% 1,3% 0,9% -1,3% 6,0% 12,1% -23,5% 41,0% -2,4% BOND_Corp_Europa 10% -25% 2,9% 1,1% 0,0% 0,1% 0,1% -0,1% -0,2% 0,8% 0,6% 0,4% -0,4% -31,3% -59,5% -3,9% -50,5% BOND_Corp_Usa -16% -39% -17% -3,5% * -2,1% * -0,8% * -3,2% * -1,0% -0,5% 0,2% -4,0% -1,7% -1,2% 1,4% -29,0% -14,5% -5,4% -34,1% BOND_Corp_Emerg -3% 28% 1,7% 0,8% -0,2% -0,2% 0,2% -0,4% 0,4% -1,4% 1,0% -0,8% 0,9% 1,2% -12,5% -30,5% 15,7% 2,9% 42,3% BOND_High_Yeld_GL 52% 27% 18% 27% 11,8% * 6,7% * 2,4% * 2,2% * 1,4% 0,6% 4,5% 7,5% 2,6% 1,7% 3,8% 18,3% 19,0% -0,7% 36,7% 44,4% © MarkeTiming Research (ALL RIGHTS REDERVED) MarkeTiming Selection for the week of 27/12/2020 Stocks FTSE_MIB_(ITALY) Unstable DownTrend about -0,3% in weekly mitigation. CAC_40_(FRANCE) Unstable DownTrend about -0,8% in weekly progression. Bullish resistence over 5581. Increasing Volatility stance in a range of -4,9% (risk weight). DAX_(GERMANY) Stable and aligned UpTrend Take a Long Position with a Tactical Adjustment on portfolio composition from 7% to 5%. FTSE_100_(UK) Stable and aligned UpTrend Take a Long Position with a Tactical Adjustment on portfolio composition from 7% to 0%. Dow_ Jones_Ind_Av_(USA) Stable and aligned UpTrend Take a Long Position with a Tactical Adjustment on portfolio composition from 9% to 3%. Nasdaq_100_(USA) Stable and aligned UpTrend Take a Long Position with a Tactical Adjustment on portfolio composition from 14% to 2%. Nikkei_225_(JAPAN) Stable and aligned UpTrend Take a Short Position with a Tactical Adjustment on portfolio composition from 12% to -12%. Hang_Seng_(HONG KONG) Unstable DownTrend about -1,6% in weekly progression. Bullish resistence over 26668. Increasing Volatility stance in a range of -2,5% (risk weight). Shanghai_Comp_(CHINA) Unstable DownTrend about -0,1% in weekly progression. BSE_Sensex_(INDIA) Stable and aligned UpTrend about 6,1% in weekly progression. Bearish suppot under 44923. Increasing Volatility stance in a range of -4,5% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 17% to 5%. RTSI_(RUSSIA) Stable and aligned UpTrend Take a Short Position with a Tactical Adjustment on portfolio composition from 21% to -3%. Ibovespa_(BRAZIL) Stable UpTrend Take a Long Position with a Tactical Adjustment on portfolio composition from 21% to 0%. Currency & Comodity EUR/USD Stable and aligned UpTrend Take a Short Position with a Tactical Adjustment on portfolio composition from 15% to -5%. Gold Unstable UpTrend Take a Long Position with a Tactical Adjustment on portfolio composition from 0% to 13%. Crude_Oil_WTI Stable and aligned UpTrend Take a Short Position with a Tactical Adjustment on portfolio composition from 72% to -32%. Natural_Gas Unstable DownTrend about -13,5% in weekly progression. Bullish resistence over 2. Increasing Volatility stance in a range of -10,7% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from 0% to -9%. Agricolture Stable DownTrend about -2,9% in weekly mitigation. Take a Long Position with a Tactical Adjustment on portfolio composition from -12% to 4%. Bond BGOV_ITA_BTP Unstable DownTrend about -0,3% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from 22% to -13%. BGOV_GERM_BUND Unstable DownTrend about -0,3% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from 4% to -3%. BGOV_UK_GILT Unstable UpTrend about 0,3% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from 13% to -9%. BGOV_USA_Treasury Stable and aligned DownTrend about -1,1% in weekly mitigation. Take a Long Position with a Tactical Adjustment on portfolio composition from -16% to 4%. BGOV_Emerg_Mrkt_Loc Stable UpTrend Take a Short Position with a Tactical Adjustment on portfolio composition from 15% to -7%. BOND_Corp_Europa Stable and aligned UpTrend Take a Short Position with a Tactical Adjustment on portfolio composition from 16% to -6%. BOND_Corp_Usa Stable and aligned DownTrend about -3,1% in weekly mitigation. Take a Long Position with a Tactical Adjustment on portfolio composition from -32% to 4%. BOND_Corp_Emerg Unstable DownTrend about -0,2% in weekly mitigation. Take a Short Position with a Tactical Adjustment on portfolio composition from 0% to -3%. BOND_High_Yeld_GL Stable and aligned UpTrend about 2,1% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from -16% to 47%. © MarkeTiming Research (ALL RIGHTS REDERVED) MarkeTiming Selection for the week of 21/12/2020 This Report is a rappresentative study of markets stance and does not constitute an investment advisory service. MARKET SELECTION weekly outlook TREND STABILITY PRIMARY TREND trend evolution VOLATILITY STANCE range evolution VOLATILITY DINAMIC volatility evolution TIMING RESISTENCE SUPPORT POWER Stability Trend Dynamic Timing Power LONG TERM MEDIUM TERM SHORT TERM 04/dic 11/dic 18/dic 04/dic 11/dic 18/dic 04/dic 11/dic 18/dic 18/dic 18/dic 18/dic Stocks FTSE_MIB_(ITALY) 14,3% 8,9% -0,2% 1,2% -0,8% * -2,1% 1,3% 3,7% -2,6% * -3,2% 2,3% -17,9% -12,2% -31,8% -3,4% CAC_40_(FRANCE) -10% 13,8% 8,6% 0,0% 0,6% 0,2% -1,8% 0,4% -2,7% 1,8% -2,4% -1,3% -13,6% -18,1% -15,4% -19,5% -3,5% DAX_(GERMANY) 7% 25% 11,1% 4,2% 1,1% 3,8% -0,3% -1,4% 3,9% * 5,7% 1,7% -3,3% 4,3% -10,4% 52,5% * -19,0% -0,7% 2,6% 53,1% FTSE_100_(UK) 8% 8,8% 7,6% 1,1% 2,8% 2,9% -0,1% -0,3% 5,8% 4,6% -1,8% -1,8% -7,7% -11,5% -2,3% -4,3% Dow_ Jones_Ind_Av_(USA) 9% -7% 13,9% 5,6% 0,7% 3,1% 0,9% -0,5% 0,4% 3,4% 2,5% -1,7% 1,5% -12,7% -10,3% -23,9% -13,9% -2,5% Nasdaq_100_(USA) 13% 17% -26% 21% 20,2% 7,4% 1,9% 7,0% 2,1% -1,1% 2,9% 7,8% 3,6% -3,3% 2,9% -37,2% * -6,1% -66,6% -49,6% * 15,2% 31,8% Nikkei_225_(JAPAN) 13% 11% 19,0% 10,1% 0,7% 4,8% 0,4% -0,4% 0,4% 5,5% -1,8% -1,5% 1,0% -18,0% -26,0% -1,5% Hang_Seng_(HONG KONG) 18% 7,1% * 5,0% -0,3% 0,2% * -0,2% -1,2% 0,0% -3,4% * -2,4% -2,3% -2,1% -33,3% -68,6% * -91,8% * -10,0% 40,6% Shanghai_Comp_(CHINA) 21% 19% 7,3% 1,4% * -0,7% * 0,5% 1,1% -2,8% * 1,4% 4,1% 2,3% -3,6% * 2,2% 0,0% 1,2% -37,2% 39,2% 9,7% 32,3% BSE_Sensex_(INDIA) 19% 17% 26,4% * 13,3% 2,7% 7,0% 2,1% 2,3% 1,9% 7,6% 2,6% 2,8% 2,5% -3,4% -0,8% 41,0% -12,3% RTSI_(RUSSIA) 16% 26% -7% 17,3% 14,0% 4,1% 11,1% 4,2% * 4,1% -0,7% * 13,1% 5,8% * 5,2% -3,6% * 7,6% 37,3% 45,9% * -13,8% 1,2% Ibovespa_(BRAZIL) 14% 29% 28% 18% 8,3% 17,6% * 4,4% * 12,2% * 3,3% 5,4% * 0,7% 14,2% * 5,6% 5,3% * 5,5% * 41,1% * 34,4% 36,6% 52,7% * 5,9% 35,8% Currency & Comodity EUR/USD 15% 15% 47% 6,2% 2,9% 1,1% 3,3% 1,2% 0,0% 1,2% 3,9% 2,1% 0,9% 1,3% -5,6% 30,3% -33,1% 33,5% Gold 26% 35% 2,2% -2,0% 1,4% 0,9% 3,2% 0,2% 2,3% 7,3% 4,6% -2,6% 4,2% -31,3% 53,6% -92,4% 18,3% -8,5% 30,9% Crude_Oil_WTI 76% 69% 65% 31,4% * 14,9% * 3,7% * 15,6% * 1,1% 1,1% 5,4% 15,0% 6,0% 5,9% 7,4% 11,9% 9,3% 24,5% 10,0% 7,7% 33,5% Natural_Gas -27% 22,1% 0,5% -1,0% 1,8% -10,0% 1,2% 4,3% -22,5% -18,7% 9,8% 4,6% -4,5% -14,2% 55,7% -19,6% Agricolture -9% -16% -1,8% * -2,1% * -1,8% * -3,6% * -1,2% -1,0% -1,0% -4,3% -1,7% -2,6% -1,1% 3,3% -16,7% 0,5% -1,8% Bond BGOV_ITA_BTP 22% 30% -33% 4,6% 1,6% 0,1% 0,0% -0,2% 0,1% -0,1% -1,3% -0,7% -0,6% -1,0% 1,5% -85,5% 56,6% 67,4% -1,1% -63,8% BGOV_GERM_BUND 4% -30% -26% 0,7% 0,4% 0,1% -0,1% -0,4% 0,8% -0,5% -1,0% -0,6% 0,6% -0,7% -15,0% -30,5% -18,2% -66,7% -8,2% -42,2% BGOV_UK_GILT 14% -7% -0,8% 0,1% 0,5% 1,2% * -0,9% 2,6% -1,0% 3,1% -1,9% 2,8% -1,8% 0,2% -71,6% 49,7% -14,9% 7,0% BGOV_USA_Treasury -13% -20% -1,8% -1,4% -0,3% -1,7% -1,8% 0,7% -0,4% -1,9% -1,9% 0,6% -0,5% -10,1% -96,4% 17,3% -0,9% 3,0% BGOV_Emerg_Mrkt_Loc 20% 10% -19% 2,2% 3,1% 0,5% * 0,8% 0,4% 0,7% 0,3% 2,2% 0,9% 1,1% 0,9% -13,2% 0,3% 4,3% -43,4% 1,4% BOND_Corp_Europa 16% -18% 3,2% 1,2% 0,1% 0,3% 0,1% 0,2% -0,2% 0,8% 0,4% -0,5% -0,4% -23,2% -21,0% -59,5% -3,9% -34,2% BOND_Corp_Usa -24% -40% -3,2% * -2,1% * -1,5% * -3,4% * -1,8% -0,3% -0,8% -4,4% -2,7% -1,7% -1,0% -3,1% -44,6% -14,5% -5,4% BOND_Corp_Emerg -14% -23% 2,1% 0,9% -0,2% -0,1% -0,4% 0,1% 0,0% -1,1% -0,8% 0,9% -0,8% -3,7% 14,1% -23,9% -30,5% -11,0% -34,4% BOND_High_Yeld_GL -16% 9,2% * 4,8% * 0,0% -1,4% -3,0% 0,3% 2,3% -6,7% -4,2% 2,6% 2,5% 0,4% 19,0% -0,6% © MarkeTiming Research (ALL RIGHTS REDERVED) MarkeTiming Selection for the week of 21/12/2020 Stocks FTSE_MIB_(ITALY) Stable and aligned UpTrend about 1,2% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from 9% to -9%. CAC_40_(FRANCE) Stable and aligned UpTrend about 0,5% in weekly progression. Bullish resistence over 5589. Increasing Volatility stance in a range of -1,3% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from 8% to -8%. DAX_(GERMANY) Stable and aligned UpTrend about 3,7% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from 4% to 2%. FTSE_100_(UK) Stable and aligned UpTrend Take a Long Position with a Tactical Adjustment on portfolio composition from 7% to 0%. Dow_ Jones_Ind_Av_(USA) Stable and aligned UpTrend about 3,1% in weekly progression. Bearish suppot under 29894. Increasing Volatility stance in a range of 1,4% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 7% to 1%. Nasdaq_100_(USA) Stable and aligned UpTrend about 6,9% in weekly progression. Bullish resistence over 12793. Increasing Volatility stance in a range of 2,8% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 10% to 9%. Nikkei_225_(JAPAN) Stable and aligned UpTrend about 4,8% in weekly progression. Bearish suppot under 26605. Reducing Volatility stance in a range of 1% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 11% to 1%. Hang_Seng_(HONG KONG) Stable and aligned UpTrend Shanghai_Comp_(CHINA) Stable and aligned UpTrend about 0,5% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from 3% to -3%. BSE_Sensex_(INDIA) Stable and aligned UpTrend about 7% in weekly progression. Bullish resistence over 47026. Increasing Volatility stance in a range of 2,5% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 14% to 3%. RTSI_(RUSSIA) Stable and aligned UpTrend Take a Short Position with a Tactical Adjustment on portfolio composition from 22% to -1%. Ibovespa_(BRAZIL) Stable UpTrend about 12,1% in weekly progression. Bearish suppot under 18089. Increasing Volatility stance in a range of 5,5% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from 25% to -4%. Currency & Comodity EUR/USD Stable and aligned UpTrend about 3,3% in weekly progression. Bullish resistence over 1. Increasing Volatility stance in a range of 1,2% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 11% to 3%. Gold Unstable UpTrend about 0,9% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from -6% to 6%. Crude_Oil_WTI Stable and aligned UpTrend about 15,5% in weekly progression. Bullish resistence over 49. Increasing Volatility stance in a range of 7,4% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 62% to 10%. Natural_Gas Stable and aligned UpTrend about 1,8% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from -36% to 36%. Agricolture Stable DownTrend about -3,5% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from -5% to -7%. Bond BGOV_ITA_BTP Stable and aligned UpTrend Take a Short Position with a Tactical Adjustment on portfolio composition from 12% to -1%. BGOV_GERM_BUND Unstable DownTrend about -0,1% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from 5% to -3%. BGOV_UK_GILT Unstable UpTrend Take a Short Position with a Tactical Adjustment on portfolio composition from 23% to -9%. BGOV_USA_Treasury Stable and aligned DownTrend about -1,6% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from -9% to -6%. BGOV_Emerg_Mrkt_Loc Stable UpTrend about 0,8% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from 14% to 0%. BOND_Corp_Europa Stable and aligned UpTrend Take a Short Position with a Tactical Adjustment on portfolio composition from 11% to -3%. BOND_Corp_Usa Stable and aligned DownTrend about -3,3% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from -16% to -15%. BOND_Corp_Emerg Unstable DownTrend about 0% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from 8% to -8%. BOND_High_Yeld_GL Unstable DownTrend about -1,3% in weekly mitigation. Take a Long Position with a Tactical Adjustment on portfolio composition from -17% to 1%. © MarkeTiming Research (ALL RIGHTS REDERVED) MarkeTiming Selection for the week of 14/12/2020 This Report is a rappresentative study of markets stance and does not constitute an investment advisory service. MARKET SELECTION weekly outlook TREND STABILITY PRIMARY TREND trend evolution VOLATILITY STANCE range evolution VOLATILITY DINAMIC volatility evolution TIMING RESISTENCE SUPPORT POWER Stability Trend Dynamic Timing Power LONG TERM MEDIUM TERM SHORT TERM 27/nov 04/dic 11/dic 27/nov 04/dic 11/dic 27/nov 04/dic 11/dic 11/dic 11/dic 11/dic Stocks FTSE_MIB_(ITALY) 9% -9% 15,4% 9,7% 0,5% 3,8% 3,0% -0,8% * -2,1% 6,3% 3,1% -2,6% * -3,2% -12,1% -3,2% -12,2% -31,8% CAC_40_(FRANCE) 9% -25% 14,6% 9,4% 0,3% 2,4% 1,9% 0,2% -1,8% 3,9% 2,2% 1,8% -2,4% -7,9% -3,9% -18,1% -15,4% -12,0% -40,6% DAX_(GERMANY) 5% -21% 10,3% 3,0% 0,4% 0,3% * 1,5% -0,3% -1,4% -3,3% * 1,8% 1,7% -3,3% -14,9% -35,0% * 52,5% * -19,0% -44,6% FTSE_100_(UK) 7% 9,6% 8,4% 2,2% 3,6% 0,3% * 2,9% -0,1% 5,8% 2,6% 4,6% -1,8% -3,5% -14,3% -11,5% -2,3% Dow_ Jones_Ind_Av_(USA) 8% 14,3% 5,8% 0,9% 2,0% 2,2% 0,9% -0,5% 3,6% 2,4% 2,5% -1,7% -12,2% 2,1% -10,3% -23,9% -1,0% Nasdaq_100_(USA) 10% -19% 19,8% 6,5% 1,8% 3,7% 3,0% 2,1% -1,1% 6,7% 4,0% 3,6% -3,3% -29,6% -33,7% -6,1% -66,6% 6,4% Nikkei_225_(JAPAN) 12% 11% 19,8% 10,8% 1,5% 5,0% 4,4% * 0,4% -0,4% 5,6% 4,9% -1,8% -1,5% -18,0% -29,2% -26,0% -1,5% -3,2% Hang_Seng_(HONG KONG) -26% -20% 7,5% 5,6% -0,1% * 1,3% 1,7% -0,2% -1,2% 3,2% 2,5% -2,4% -2,3% -33,9% * -33,2% -68,6% * -91,8% * -43,0% Shanghai_Comp_(CHINA) 4% -11% -34% 8,2% 1,9% * 0,0% 1,1% 0,9% 1,1% -2,8% * 4,5% 2,6% 2,3% -3,6% * -1,4% 23,4% 1,2% -37,2% -6,8% -65,4% BSE_Sensex_(INDIA) 15% 14% 12% 25,5% * 12,9% 2,7% 6,1% 0,6% 2,1% 2,3% 6,4% -2,8% * 2,6% 2,8% -5,4% -22,4% -0,8% 41,0% RTSI_(RUSSIA) 12% 33% 13% 15,7% 12,3% 4,8% 15,1% 3,1% 4,2% * 4,1% 12,9% 4,7% 5,8% * 5,2% 12,4% -28,3% 37,3% 45,9% * 9,2% Ibovespa_(BRAZIL) 10% 42% 10% 5,7% * 16,2% * 5,3% * 18,8% * 2,3% 3,3% 5,4% * 17,5% * 5,2% * 5,6% 5,3% * 41,8% * 58,5% * 34,4% 36,6% 6,0% Currency & Comodity EUR/USD 17% 7% -16% 5,7% 2,4% 1,1% 2,4% 0,9% 1,2% 0,0% 3,1% 1,4% 2,1% 0,9% -11,0% -57,1% 30,3% -33,1% Gold -6% -45% 2,0% -2,8% 0,7% -2,3% -4,6% 3,2% 0,2% -7,0% -5,7% 4,6% -2,6% -45,2% -52,0% 53,6% -92,4% -0,5% Crude_Oil_WTI 80% 44% 12% 28,3% * 11,9% * 3,7% * 15,9% * 7,3% 1,1% 1,1% 16,8% 8,8% 6,0% 5,9% 13,4% 8,6% 9,3% 24,5% 0,5% Natural_Gas -36% 27% -16% 14,7% -5,5% * -7,7% * -13,1% * 7,1% -10,0% 1,2% -22,4% 8,4% -18,7% 9,8% -14,4% -7,7% -14,2% 55,7% -7,5% Agricolture -3% -7% -84% -0,2% * -0,6% -1,0% -2,4% -0,4% -1,2% -1,0% -3,7% -0,9% -1,7% -2,6% 4,1% 35,4% -16,7% 0,5% 0,7% -41,4% Bond BGOV_ITA_BTP 21% 4% 30% 10% 4,8% 1,8% 0,2% 0,4% 0,3% -0,2% 0,1% 0,8% 0,3% -0,7% -0,6% -29,4% -11,5% -85,5% 56,6% -6,7% 35,5% BGOV_GERM_BUND 4% 7% 21% 0,7% 0,5% 0,2% 0,7% 0,0% -0,4% 0,8% 1,0% -0,4% -0,6% 0,6% -14,9% 19,9% -30,5% -18,2% 2,5% 55,8% BGOV_UK_GILT 24% 26% 30% -0,8% 0,1% 0,9% * 2,6% * 0,6% -0,9% 2,6% 3,6% 1,1% -1,9% 2,8% -2,5% 12,7% -71,6% 49,7% 14,3% 69,2% BGOV_USA_Treasury -13% -6% -1,9% -1,6% * -0,7% -0,7% -0,1% -1,8% 0,7% -2,0% -0,3% -1,9% 0,6% -10,6% -22,0% -96,4% 17,3% 2,2% BGOV_Emerg_Mrkt_Loc 17% 12% 19% 1,9% 3,0% 0,4% 1,4% -0,6% 0,4% 0,7% 1,8% -1,2% 0,9% 1,1% 1,9% -35,8% 0,3% 4,3% 2,2% 49,4% BOND_Corp_Europa 16% 7% -31% 3,5% 1,4% 0,3% 0,8% 0,1% 0,1% 0,2% 1,0% 0,3% 0,4% -0,5% -22,5% -27,5% -21,0% -59,5% -7,4% BOND_Corp_Usa -17% -17% -2,5% * -1,5% -1,4% -1,9% -0,5% -1,8% -0,3% -4,0% -1,2% -2,7% -1,7% -0,6% 67,1% -44,6% -14,5% -8,7% BOND_Corp_Emerg 12% 6% -13% -19% 2,4% 1,2% 0,1% 0,6% 0,3% -0,4% 0,1% 1,3% 0,7% -0,8% 0,9% -5,7% 3,2% 14,1% -23,9% -53,3% BOND_High_Yeld_GL -18% 7,6% * 4,0% * -2,3% * -1,9% * -0,8% -3,0% 0,3% -6,6% -2,4% -4,2% 2,6% 0,4% -50,0% © MarkeTiming Research (ALL RIGHTS REDERVED) MarkeTiming Selection for the week of 14/12/2020 Stocks FTSE_MIB_(ITALY) Stable and aligned UpTrend Take a Short Position with a Tactical Adjustment on portfolio composition from 13% to -8%. CAC_40_(FRANCE) Stable and aligned UpTrend Take a Short Position with a Tactical Adjustment on portfolio composition from 13% to -8%. DAX_(GERMANY) Stable and aligned UpTrend Take a Short Position with a Tactical Adjustment on portfolio composition from 5% to 0%. FTSE_100_(UK) Stable and aligned UpTrend Take a Short Position with a Tactical Adjustment on portfolio composition from 9% to -5%. Dow_ Jones_Ind_Av_(USA) Stable and aligned UpTrend Take a Long Position with a Tactical Adjustment on portfolio composition from 7% to 0%. Nasdaq_100_(USA) Stable and aligned UpTrend Take a Short Position with a Tactical Adjustment on portfolio composition from 11% to 0%. Nikkei_225_(JAPAN) Stable and aligned UpTrend Take a Short Position with a Tactical Adjustment on portfolio composition from 12% to -1%. Hang_Seng_(HONG KONG) Stable and aligned UpTrend Take a Short Position with a Tactical Adjustment on portfolio composition from 5% to -5%. Shanghai_Comp_(CHINA) Stable and aligned UpTrend Take a Short Position with a Tactical Adjustment on portfolio composition from 5% to -1%. BSE_Sensex_(INDIA) Stable and aligned UpTrend about 6,1% in weekly progression. Bullish resistence over 46309. Increasing Volatility stance in a range of 2,7% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 12% to 7%. RTSI_(RUSSIA) Stable and aligned UpTrend about 15% in weekly progression. Bullish resistence over 1413. Increasing Volatility stance in a range of 5,1% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 13% to 8%. Ibovespa_(BRAZIL) Stable UpTrend about 18,8% in weekly progression. Bullish resistence over 18879. Increasing Volatility stance in a range of 5,3% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 13% to 12%. Currency & Comodity EUR/USD #DIV/0! Gold Unstable DownTrend about -2,2% in weekly mitigation. Take a Long Position with a Tactical Adjustment on portfolio composition from -13% to 7%. Crude_Oil_WTI Stable and aligned UpTrend about 15,8% in weekly progression. Bearish suppot under 44. Increasing Volatility stance in a range of 5,9% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from 68% to -6%. Natural_Gas Unstable DownTrend about -13% in weekly mitigation. Take a Short Position with a Tactical Adjustment on portfolio composition from -27% to -9%. Agricolture Stable DownTrend about -2,4% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from 0% to -5%. Bond BGOV_ITA_BTP Stable and aligned UpTrend about 0,4% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from 20% to -7%. BGOV_GERM_BUND Stable and aligned UpTrend about 0,7% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from -7% to 9%. BGOV_UK_GILT Unstable UpTrend about 2,6% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from -13% to 37%. BGOV_USA_Treasury Stable and aligned DownTrend about -0,6% in weekly mitigation. Take a Long Position with a Tactical Adjustment on portfolio composition from -20% to 11%. BGOV_Emerg_Mrkt_Loc Stable UpTrend about 1,3% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from 21% to 3%. BOND_Corp_Europa Stable and aligned UpTrend about 0,8% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from 16% to -5%. BOND_Corp_Usa Stable and aligned DownTrend about -1,8% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from -15% to -1%. BOND_Corp_Emerg Stable and aligned UpTrend about 0,6% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from 10% to 3%. BOND_High_Yeld_GL Unstable DownTrend about -1,9% in weekly mitigation. Take a Short Position with a Tactical Adjustment on portfolio composition from 0% to -17%. © MarkeTiming Research (ALL RIGHTS REDERVED) MarkeTiming Selection for the week of 7/12/2020 This Report is a rappresentative study of markets stance and does not constitute an investment advisory service. MARKET SELECTION weekly outlook TREND STABILITY PRIMARY TREND trend evolution VOLATILITY STANCE range evolution VOLATILITY DINAMIC volatility evolution TIMING RESISTENCE SUPPORT POWER Stability Trend Dynamic Timing Power LONG TERM MEDIUM TERM SHORT TERM 20/nov 27/nov 04/dic 20/nov 27/nov 04/dic 20/nov 27/nov 04/dic 04/dic 04/dic 04/dic Stocks FTSE_MIB_(ITALY) 10% 16% 15,8% 10,8% 2,1% 12,7% 3,8% 3,0% -0,8% * 3,5% 3,1% -2,6% * 10,4% 40,6% -3,2% -12,2% CAC_40_(FRANCE) 10% 17% -8% 15,0% 10,5% 1,3% 13,1% 2,2% 1,9% 0,2% 10,8% 2,2% 2,2% 1,8% 17,7% 37,7% -3,9% -18,1% DAX_(GERMANY) 6% 22% 10,8% 3,5% 0,8% 6,6% 0,5% 1,5% -0,3% 5,8% -1,8% 1,8% 1,7% 7,7% -21,6% * -35,0% * 52,5% * FTSE_100_(UK) 5% 14% 9% 6,9% 6,3% 0,7% 10,8% 0,6% 0,3% * 2,9% 10,1% 2,4% 2,6% 4,6% 13,5% 13,9% -14,3% -11,5% 7,6% Dow_ Jones_Ind_Av_(USA) 7% 13,9% 5,8% 0,8% 6,6% -0,7% * 2,2% 0,9% 4,3% -2,4% 2,4% 2,5% -3,9% -11,6% 2,1% -10,3% Nasdaq_100_(USA) 11% 5% 20,6% 7,0% 2,7% 3,5% * -0,2% 3,0% 2,1% 8,4% -1,7% 4,0% 3,6% -12,2% 19,1% -33,7% -6,1% 4,2% Nikkei_225_(JAPAN) 13% 13% -11% -32% 20,7% 12,0% * 3,0% 10,0% 0,6% 4,4% * 0,4% 9,0% -2,4% * 4,9% -1,8% -19,3% -29,2% -26,0% -26,5% Hang_Seng_(HONG KONG) 5% -29% 51% 7,9% 6,4% 0,6% * 4,4% 1,1% 1,7% -0,2% 4,2% * 1,6% 2,5% -2,4% -25,4% * 11,2% -33,2% -68,6% * -3,6% 45,4% Shanghai_Comp_(CHINA) 5% 9,9% 3,2% * 1,5% 4,0% 2,0% 0,9% 1,1% 5,1% 2,0% 2,6% 2,3% 12,4% 12,4% 23,4% 1,2% 0,1% BSE_Sensex_(INDIA) 13% 22,7% * 11,0% 1,4% 7,6% 1,0% 0,6% 2,1% 6,5% 1,8% -2,8% * 2,6% -1,7% -11,0% -22,4% -0,8% RTSI_(RUSSIA) 8% 20% 16% 3% 10,9% 8,0% 3,3% 15,2% 2,8% 3,1% 4,2% * 13,3% 3,1% 4,7% 5,8% * 7,3% 0,5% -28,3% 37,3% 2,2% Ibovespa_(BRAZIL) 6% 21% 15% 0,4% * 11,6% 3,8% * 16,0% * 6,6% * 2,3% 3,3% 18,1% * 7,7% * 5,2% * 5,6% 19,6% * 57,8% * 58,5% * 34,4% Currency & Comodity EUR/USD 17% 5% 36% 5,5% 2,1% 1,3% 2,0% 0,3% 0,9% 1,2% 3,6% 0,7% 1,4% 2,1% 0,1% 24,0% -57,1% 30,3% 3,3% Gold -14% 64% 0,4% -5,1% * -1,5% -5,7% -0,9% -4,6% 3,2% -10,7% -2,5% -5,7% 4,6% -44,0% -29,1% -52,0% 53,6% 2,9% Crude_Oil_WTI 83% 54% 26,0% 10,6% * 4,9% * 22,9% * 5,7% 7,3% 1,1% 21,7% 6,0% 8,8% 6,0% 20,5% 22,8% 8,6% 9,3% 4,1% Natural_Gas -27% -55% 28,5% * 5,7% -1,7% * -11,4% * -11,0% 7,1% -10,0% -21,6% -13,0% 8,4% -18,7% -13,9% -56,7% -7,7% -14,2% -42,6% Agricolture -45% 0,2% * 0,0% -0,7% -0,1% 0,2% -0,4% -1,2% -2,5% 0,9% -0,9% -1,7% 9,5% 8,0% 35,4% -16,7% 8,5% -43,9% Bond BGOV_ITA_BTP 38% 3% -29% 4,7% 1,8% 0,2% 0,3% 0,3% 0,3% -0,2% -1,4% 0,5% 0,3% -0,7% -79,6% -21,0% -11,5% -85,5% BGOV_GERM_BUND -8% 0,3% 0,1% 0,0% -0,7% 0,3% 0,0% -0,4% -1,3% 0,6% -0,4% -0,6% -36,0% -65,7% 19,9% -30,5% -8,6% BGOV_UK_GILT -14% -24% -20% -1,9% * -1,2% 0,2% * -1,2% 0,4% 0,6% -0,9% -2,7% 1,3% 1,1% -1,9% -33,9% -18,6% 12,7% -71,6% -61,5% BGOV_USA_Treasury -22% -19% -32% -34% -1,8% -1,6% * -0,7% -1,7% * 0,5% -0,1% -1,8% -2,0% 0,6% -0,3% -1,9% -16,8% -2,5% -22,0% -96,4% -11,3% -90,9% BGOV_Emerg_Mrkt_Loc 21% 0,8% 2,2% -0,4% 1,8% * 0,8% -0,6% 0,4% 2,2% 1,3% -1,2% 0,9% 12,6% 39,7% -35,8% 0,3% 0,3% BOND_Corp_Europa 26% 8% 3,2% 1,3% 0,2% 0,7% 0,4% 0,1% 0,1% 0,9% 0,4% 0,3% 0,4% -26,2% 20,0% -27,5% -21,0% BOND_Corp_Usa -15% -16% -15% -27% -1,5% -0,6% -0,6% -1,4% 0,7% -0,5% -1,8% -3,2% 1,6% -1,2% -2,7% -1,2% 3,0% 67,1% -44,6% -12,2% -68,7% BOND_Corp_Emerg 11% 2,1% 1,1% 0,0% 0,9% 0,6% 0,3% -0,4% 1,5% 1,0% 0,7% -0,8% 10,1% -25,9% 3,2% 14,1% BOND_High_Yeld_GL -19% 8,8% * 6,0% * -1,8% * 0,0% 1,7% -0,8% -3,0% 6,1% 3,3% -2,4% -4,2% -4,7% -1,2% -50,0% -1,0% -54,5% © MarkeTiming Research (ALL RIGHTS REDERVED) MarkeTiming Selection for the week of 7/12/2020 Stocks FTSE_MIB_(ITALY) Stable and aligned UpTrend Take a Short Position with a Tactical Adjustment on portfolio composition from 17% to -4%. CAC_40_(FRANCE) Stable and aligned UpTrend about 13% in weekly progression. Bearish suppot under 5518. Reducing Volatility stance in a range of 1,7% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from 16% to -2%. DAX_(GERMANY) Stable and aligned UpTrend Take a Short Position with a Tactical Adjustment on portfolio composition from 6% to 0%. FTSE_100_(UK) Stable and aligned UpTrend about 10,8% in weekly progression. Bullish resistence over 6559. Increasing Volatility stance in a range of 4,5% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 5% to 6%. Dow_ Jones_Ind_Av_(USA) Stable and aligned UpTrend about 6,5% in weekly progression. Bearish suppot under 29463. Increasing Volatility stance in a range of 2,4% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from 8% to -1%. Nasdaq_100_(USA) Stable and aligned UpTrend about 3,4% in weekly progression. Bullish resistence over 12538. Increasing Volatility stance in a range of 3,5% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 9% to 1%. Nikkei_225_(JAPAN) Stable and aligned UpTrend about 9,9% in weekly progression. Bearish suppot under 26405. Reducing Volatility stance in a range of -1,8% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from 13% to 0%. Hang_Seng_(HONG KONG) Stable and aligned UpTrend Take a Short Position with a Tactical Adjustment on portfolio composition from 6% to -1%. Shanghai_Comp_(CHINA) Stable and aligned UpTrend about 3,9% in weekly progression. Bullish resistence over 3465. Increasing Volatility stance in a range of 2,2% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 4% to 0%. BSE_Sensex_(INDIA) Stable and aligned UpTrend about 7,6% in weekly progression. Bullish resistence over 45148. Increasing Volatility stance in a range of 2,5% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from 13% to 0%. RTSI_(RUSSIA) Stable and aligned UpTrend about 15,2% in weekly progression. Bullish resistence over 1358. Increasing Volatility stance in a range of 5,8% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from 13% to 0%. Ibovespa_(BRAZIL) Stable UpTrend about 16% in weekly progression. Bearish suppot under 17065. Increasing Volatility stance in a range of 5,6% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 21% to 2%. Currency & Comodity EUR/USD Stable and aligned UpTrend about 2% in weekly progression. Bullish resistence over 1. Increasing Volatility stance in a range of 2% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 8% to 2%. Gold Unstable DownTrend about -5,7% in weekly mitigation. Take a Short Position with a Tactical Adjustment on portfolio composition from -9% to -3%. Crude_Oil_WTI Stable and aligned UpTrend about 22,8% in weekly progression. Bearish suppot under 43. Increasing Volatility stance in a range of 6% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 67% to 0%. Natural_Gas Unstable DownTrend about -11,3% in weekly progression. Bullish resistence over 2. Increasing Volatility stance in a range of -18,6% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from -30% to 3%. Agricolture Unstable DownTrend about -0,1% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from 3% to -3%. Bond BGOV_ITA_BTP Stable and aligned UpTrend Take a Long Position with a Tactical Adjustment on portfolio composition from 14% to 12%. BGOV_GERM_BUND Unstable DownTrend about -0,6% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from 1% to -4%. BGOV_UK_GILT Stable and aligned DownTrend about -1,1% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from -6% to -3%. BGOV_USA_Treasury Stable and aligned DownTrend about -1,6% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from 0% to -20%. BGOV_Emerg_Mrkt_Loc Unstable UpTrend about 1,8% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from 20% to -9%. BOND_Corp_Europa Stable and aligned UpTrend about 0,6% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from 9% to 11%. BOND_Corp_Usa Stable DownTrend about -1,3% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from 0% to -15%. BOND_Corp_Emerg Stable and aligned UpTrend Take a Short Position with a Tactical Adjustment on portfolio composition from 16% to -10%. BOND_High_Yeld_GL Take a Short Position with a Tactical Adjustment on portfolio composition from 46% to -46%. © MarkeTiming Research (ALL RIGHTS REDERVED) MarkeTiming Selection for the week of 30/11/2020 This Report is a rappresentative study of markets stance and does not constitute an investment advisory service. MARKET SELECTION weekly outlook TREND STABILITY PRIMARY TREND trend evolution VOLATILITY STANCE range evolution VOLATILITY DINAMIC volatility evolution TIMING RESISTENCE SUPPORT POWER Stability Trend Dynamic Timing Power LONG TERM MEDIUM TERM SHORT TERM 13/nov 20/nov 27/nov 13/nov 20/nov 27/nov 13/nov 20/nov 27/nov 27/nov 27/nov 27/nov Stocks FTSE_MIB_(ITALY) 13% 23% 15,7% 11,6% * 5,6% 24,6% * 6,2% 3,8% 3,0% 5,2% 3,5% 3,1% 23,6% 66,5% 40,6% -3,2% CAC_40_(FRANCE) 12% 20% 14,7% 11,0% 4,3% 21,9% 8,5% * 2,2% 1,9% 19,3% 8,1% 2,2% 2,2% 35,6% * 133,8% * 37,7% -3,9% DAX_(GERMANY) 6% -15% 10,6% 3,4% 2,5% 15,4% 4,8% 0,5% 1,5% 14,0% 4,7% -1,8% 1,8% 11,2% 77,5% -21,6% * -35,0% * FTSE_100_(UK) 6% 5,9% 5,9% 2,5% 14,2% 6,9% 0,6% 0,3% * 14,6% 7,7% 2,4% 2,6% 23,8% 118,1% 13,9% -14,3% Dow_ Jones_Ind_Av_(USA) 9% 13,8% 6,0% 2,2% 12,9% 4,0% -0,7% * 2,2% 11,5% -3,4% -2,4% 2,4% 5,9% 7,4% -11,6% 2,1% Nasdaq_100_(USA) 10% -14% 32% 18,3% 4,9% 1,6% 10,9% -1,3% * -0,2% 3,0% 11,3% -6,3% * -1,7% 4,0% -11,6% -15,7% 19,1% -33,7% 22,1% Nikkei_225_(JAPAN) 13% 15% 47% 18,4% 10,5% 3,5% 16,0% 4,4% 0,6% 4,4% * 14,3% 4,1% -2,4% * 4,9% -3,0% 2,4% 32,1% Hang_Seng_(HONG KONG) 7% -14% 8,2% 7,1% 2,2% 11,6% 1,7% 1,1% 1,7% 10,7% -2,1% 1,6% 2,5% -19,2% * -28,6% * 11,2% -33,2% Shanghai_Comp_(CHINA) 5% 10% 10% 8,9% 2,2% * 1,4% * 5,7% * -0,1% 2,0% 0,9% 6,6% * -2,9% 2,0% 2,6% 13,3% 8,6% 12,4% 23,4% 6,6% BSE_Sensex_(INDIA) 14% -10% -11% 21,8% * 10,9% 2,7% 11,4% 3,7% 1,0% 0,6% 12,7% 3,3% 1,8% -2,8% * 0,6% 32,6% -11,0% -22,4% -7,3% RTSI_(RUSSIA) 7% 21% -12% 8,2% 5,9% 4,9% 22,1% 4,2% 2,8% 3,1% 22,4% * 5,4% 3,1% 4,7% 5,0% 39,1% 0,5% -28,3% Ibovespa_(BRAZIL) 21% 25% -3,0% * 8,8% 5,9% * 22,8% 2,9% 6,6% * 2,3% 21,9% 10,3% * 7,7% * 5,2% * 8,9% -20,8% 57,8% * 58,5% * Currency & Comodity EUR/USD 12% 5% -39% 25% 4,2% 0,8% 0,5% 2,7% -0,3% 0,3% 0,9% 3,0% -1,5% 0,7% 1,4% 9,9% 24,0% -57,1% 31,5% Gold -10% -36% -35% 0,9% * -5,2% * -2,6% * -5,1% -3,4% -0,9% -4,6% -10,3% -6,2% -2,5% -5,7% -41,0% -132,4% -29,1% -52,0% -44,5% Crude_Oil_WTI 83% 53% 19% 23,1% 9,0% 7,4% * 27,3% * 7,2% 5,7% 7,3% 30,1% 14,1% 6,0% 8,8% 30,4% 99,0% 22,8% 8,6% 24,6% Natural_Gas -31% 35,3% * 12,2% * -0,4% -16,0% * 3,2% -11,0% 7,1% -28,9% 8,4% -13,0% 8,4% -16,5% 10,9% -56,7% -7,7% Agricolture 6% 2% 25% -21% 1,3% 1,1% 0,3% 0,8% 1,3% 0,2% -0,4% 2,0% 1,4% 0,9% -0,9% 20,6% 37,8% 8,0% 35,4% -26,6% Bond BGOV_ITA_BTP 15% 4,9% 2,1% 0,4% 1,2% -0,1% 0,3% 0,3% 1,4% -1,3% 0,5% 0,3% -55,7% -194,4% -21,0% -11,5% BGOV_GERM_BUND 2% 9% 0,6% 0,3% 0,0% -0,4% -0,6% 0,3% 0,0% -1,6% -1,3% 0,6% -0,4% -49,7% -190,6% -65,7% 19,9% BGOV_UK_GILT -6% 24% -1,8% * -1,3% * -0,1% * -0,5% * -1,2% 0,4% 0,6% -3,8% -2,7% 1,3% 1,1% -20,1% -97,5% -18,6% 12,7% 21,8% BGOV_USA_Treasury -10% -0,6% -0,6% 0,2% 0,4% -0,3% 0,5% -0,1% 1,5% 0,8% 0,6% -0,3% -5,4% 6,9% -2,5% -22,0% BGOV_Emerg_Mrkt_Loc 10% 31% -16% -35% 1,3% 3,1% 0,9% 3,2% 1,2% 0,8% -0,6% 4,7% 2,2% 1,3% -1,2% 32,7% 92,4% 39,7% -35,8% -6,9% -25,2% BOND_Corp_Europa 10% -12% 3,2% 1,4% 0,3% 1,1% 0,0% 0,4% 0,1% 1,2% -0,7% 0,4% 0,3% -15,4% -85,2% 20,0% -27,5% BOND_Corp_Usa 30% -16% -0,4% 0,5% 0,4% 0,1% 0,2% 0,7% -0,5% 2,4% 1,1% 1,6% -1,2% 13,4% -20,2% 3,0% 67,1% 11,7% -26,1% BOND_Corp_Emerg 7% 25% 1,9% 1,3% 0,5% 2,6% 0,4% 0,6% 0,3% 3,4% 1,5% 1,0% 0,7% 2,5% 83,8% -25,9% 3,2% BOND_High_Yeld_GL 49% 45% -23% -25% 12,4% * 10,5% * 1,7% * 4,6% * 2,3% 1,7% -0,8% 6,9% 4,4% 3,3% -2,4% 12,2% 10,2% -1,2% -50,0% 1,0% -24,0% © MarkeTiming Research (ALL RIGHTS REDERVED) MarkeTiming Selection for the week of 30/11/2020 Stocks FTSE_MIB_(ITALY) #VALORE! CAC_40_(FRANCE) Stable and aligned UpTrendabout 21,8% in weekly progression.Bearish suppot under 5492.Reducing Volatility stance in a range of 2,1% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 14% to 1%. DAX_(GERMANY) Stable and aligned UpTrendabout 15,3% in weekly progression.Bearish suppot under 13126.Reducing Volatility stance in a range of 1,7% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 6% to 0%. FTSE_100_(UK) Stable UpTrendabout 14,1% in weekly progression.Bearish suppot under 6302.Reducing Volatility stance in a range of 2,5% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from 9% to -6%. Dow_ Jones_Ind_Av_(USA) Stable and aligned UpTrendabout 12,8% in weekly progression.Bearish suppot under 29332.Reducing Volatility stance in a range of 2,4% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from 9% to 0%. Nasdaq_100_(USA) Stable and aligned UpTrendabout 10,9% in weekly progression.Bullish resistence over 12306.Increasing Volatility stance in a range of 4% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from 9% to 0%. Nikkei_225_(JAPAN) Stable and aligned UpTrendabout 15,9% in weekly progression.Bullish resistence over 26706.Increasing Volatility stance in a range of 4,8% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 12% to 1%. Hang_Seng_(HONG KONG) Stable and aligned UpTrendabout 11,5% in weekly progression.Bearish suppot under 26369.Reducing Volatility stance in a range of 2,5% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 6% to 0%. Shanghai_Comp_(CHINA) Stable and aligned UpTrendabout 5,6% in weekly progression.Bearish suppot under 3344.Increasing Volatility stance in a range of 2,5% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 4% to 0%. BSE_Sensex_(INDIA) Stable and aligned UpTrendabout 11,4% in weekly progression.Bearish suppot under 43582.Reducing Volatility stance in a range of -2,7% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from 13% to -6%. RTSI_(RUSSIA) Stable and aligned UpTrendabout 22,1% in weekly progression.Bearish suppot under 1255.Reducing Volatility stance in a range of 4,6% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 9% to 4%. Ibovespa_(BRAZIL) Unstable UpTrendabout 22,8% in weekly progression.Bearish suppot under 16570.Reducing Volatility stance in a range of 5,2% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 14% to 6%. Currency & Comodity EUR/USD Stable and aligned UpTrendabout 2,7% in weekly progression.Bullish resistence over 1.Increasing Volatility stance in a range of 1,3% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from 17% to 0%. Gold Unstable DownTrendabout -5% in weekly progression.Bullish resistence over 1875.Increasing Volatility stance in a range of -5,6% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from -8% to 0%. Crude_Oil_WTI Stable and aligned UpTrendabout 27,2% in weekly progression.Bullish resistence over 46.Increasing Volatility stance in a range of 8,7% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 53% to 13%. Natural_Gas Unstable DownTrendabout -15,9% in weekly mitigation. Take a Long Position with a Tactical Adjustment on portfolio composition from -49% to 18%. Agricolture Stable and aligned UpTrend Take a Short Position with a Tactical Adjustment on portfolio composition from 8% to -4%. Bond BGOV_ITA_BTP Stable and aligned UpTrendabout 1,1% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from 14% to 0%. BGOV_GERM_BUND Unstable DownTrendabout -0,3% in weekly mitigation. Take a Long Position with a Tactical Adjustment on portfolio composition from 0% to 1%. BGOV_UK_GILT Stable and aligned DownTrendabout -0,4% in weekly mitigation. Take a Long Position with a Tactical Adjustment on portfolio composition from -9% to 3%. BGOV_USA_Treasury Unstable UpTrend BGOV_Emerg_Mrkt_Loc Stable UpTrend Take a Short Position with a Tactical Adjustment on portfolio composition from 21% to 0%. BOND_Corp_Europa Stable and aligned UpTrendabout 1,1% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from 9% to 0%. BOND_Corp_Usa Unstable UpTrend Take a Short Position with a Tactical Adjustment on portfolio composition from 17% to -17%. BOND_Corp_Emerg Stable and aligned UpTrendabout 2,5% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from 12% to 3%. BOND_High_Yeld_GL Stable and aligned UpTrend Take a Long Position with a Tactical Adjustment on portfolio composition from 40% to 5%. © MarkeTiming Research (ALL RIGHTS REDERVED) MarkeTiming Selection for the week of 23/11/2020 This Report is a rappresentative study of markets stance and does not constitute an investment advisory service. MARKET SELECTION weekly outlook TREND STABILITY PRIMARY TREND trend evolution VOLATILITY STANCE range evolution VOLATILITY DINAMIC volatility evolution TIMING RESISTENCE SUPPORT POWER Stability Trend Return Risk Dynamic Timing Power LONG TERM MEDIUM TERM SHORT TERM 06/nov 13/nov 20/nov 06/nov 13/nov 20/nov 06/nov 13/nov 20/nov 20/nov 20/nov 20/nov Stocks FTSE_MIB_(ITALY) 11% 19% 19% 23% 12,0% 8,9% 7,4% * 12,6% * 9,7% 6,2% 3,8% 20,6% * 10,5% 5,2% 3,5% 16,0% 30,5% 66,5% 40,6% 1,1% CAC_40_(FRANCE) 12% 18% 19% 21% 12,7% 10,0% 7,3% 11,9% 8,0% 8,5% * 2,2% 19,7% 8,5% 8,1% 2,2% 38,6% * 44,8% 133,8% * 37,7% DAX_(GERMANY) 6% -12% 9,3% 2,4% 4,4% 3,9% 8,0% 4,8% 0,5% 14,6% 8,5% 4,7% -1,8% 11,1% 40,8% 77,5% -21,6% * FTSE_100_(UK) 7% 12% 5,4% 6,0% 5,4% 8,4% 6,0% 6,9% 0,6% 15,4% 6,8% 7,7% 2,4% 19,1% 24,2% 118,1% 13,9% Dow_ Jones_Ind_Av_(USA) 9% 13,3% 6,1% 4,1% 3,3% 6,9% 4,0% -0,7% * 13,3% 6,4% -3,4% -2,4% -9,0% 45,4% * 7,4% -11,6% Nasdaq_100_(USA) 10% 11% 17,9% 4,6% 2,2% 1,8% * 9,4% -1,3% * -0,2% 11,1% 9,9% -6,3% * -1,7% -13,2% * -0,8% -15,7% 19,1% Nikkei_225_(JAPAN) 13% 13% 21% 17,2% 9,8% 5,0% 8,6% 5,9% 4,4% 0,6% 12,6% 5,4% 4,1% -2,4% * 9,5% 10,6% 2,4% Hang_Seng_(HONG KONG) 7% 19% 7,0% 6,4% 3,2% 6,2% 6,7% 1,7% 1,1% 10,1% 6,2% -2,1% 1,6% -5,4% -28,6% * 11,2% Shanghai_Comp_(CHINA) 4% 47% 7,9% 1,1% * 1,2% * 3,0% 2,7% * -0,1% 2,0% 5,3% * 3,5% * -2,9% 2,0% 5,3% -1,5% * 8,6% 12,4% 29,3% BSE_Sensex_(INDIA) 15% 12% 21% 6% 21,3% * 11,2% * 4,5% 7,9% 5,8% 3,7% 1,0% 11,8% 6,4% 3,3% 1,8% -5,0% 9,2% 32,6% -11,0% 3,7% RTSI_(RUSSIA) 6% 13% 5,4% 3,9% 6,8% 8,5% 10,5% * 4,2% 2,8% 20,4% 12,3% * 5,4% 3,1% -4,2% 20,4% 39,1% 0,5% Ibovespa_(BRAZIL) 15% 33% 48% -6,7% * 5,7% 6,5% 9,9% 9,4% 2,9% 6,6% * 20,3% 10,5% 10,3% * 7,7% * -11,1% 4,2% -20,8% 57,8% * -2,4% 32,5% Currency & Comodity EUR/USD 18% 4,2% 0,7% 0,6% 0,0% 1,9% -0,3% 0,3% 2,7% 2,4% -1,5% 0,7% 16,1% 49,8% Gold -9% -27% 4,1% -2,6% * -0,8% -1,8% 3,9% -3,4% -0,9% -6,2% 4,6% -6,2% -2,5% -27,8% 15,4% -132,4% -29,1% Crude_Oil_WTI 74% 33% 21% 34% 15,0% 2,8% 5,4% * 6,8% * 4,7% 7,2% 5,7% 23,3% 14,8% 14,1% 6,0% 16,5% 56,5% 99,0% 22,8% 24,3% Natural_Gas -49% -52% -34% 28,3% * 7,9% * -9,9% * -10,1% * -14,7% 3,2% -11,0% -28,3% -16,5% 8,4% -13,0% -9,3% -23,0% 10,9% -56,7% -24,5% Agricolture 8% 8% 100% 32% 1,1% * 1,0% 0,4% 1,7% -0,3% 1,3% 0,2% 2,3% -1,2% 1,4% 0,9% 11,0% 4,2% 37,8% 8,0% 23,2% Bond BGOV_ITA_BTP 15% 35% -11% 4,8% 2,2% 0,5% 1,3% 0,7% -0,1% 0,3% 1,5% 1,0% -1,3% 0,5% -36,2% -25,9% -194,4% -21,0% BGOV_GERM_BUND -34% 0,5% 0,3% -0,1% 0,0% -0,1% -0,6% 0,3% -1,6% -0,4% -1,3% 0,6% -61,8% -67,0% -190,6% -65,7% BGOV_UK_GILT -9% -10% -2,1% * -1,8% * -0,8% * -0,9% * -0,2% -1,2% 0,4% -3,8% -1,8% -2,7% 1,3% -15,8% -17,7% -97,5% -18,6% -6,6% BGOV_USA_Treasury 38% -0,6% -0,8% 0,1% 0,4% 0,3% -0,3% 0,5% 1,5% 0,9% 0,8% 0,6% -13,7% 6,9% -2,5% 41,5% BGOV_Emerg_Mrkt_Loc 10% 33% 31% 21% 0,7% 2,8% 1,5% 3,9% * 1,7% 1,2% 0,8% 5,2% 2,4% 2,2% 1,3% 45,3% 64,2% 92,4% 39,7% -5,5% BOND_Corp_Europa 9% 10% 21% 3,0% 1,3% 0,4% 0,9% 0,6% 0,0% 0,4% 1,5% 0,8% -0,7% 0,4% 9,6% 43,3% -85,2% 20,0% 23,4% BOND_Corp_Usa 17% 34% 22% -0,8% 0,1% 0,4% 2,1% -0,2% 0,2% 0,7% 2,5% -2,1% 1,1% 1,6% -5,0% 2,7% -20,2% 3,0% -3,5% 27,1% BOND_Corp_Emerg 5% 19% -14% 1,0% 1,0% 0,8% 2,3% 1,2% 0,4% 0,6% 4,0% 2,5% 1,5% 1,0% -12,0% -6,2% 83,8% -25,9% BOND_High_Yeld_GL 51% 31% 19% 12,2% * 11,3% * 2,6% * 3,7% 1,4% 2,3% 1,7% 7,0% 3,7% 4,4% 3,3% 15,1% 118,8% 10,2% -1,2% -7,1% 28,0% © MarkeTiming Research (ALL RIGHTS REDERVED) MarkeTiming Selection for the week of 23/11/2020 Stocks FTSE_MIB_(ITALY) Stable and aligned UpTrend about 12,5% in weekly progression. Bullish resistence over 21770. Reducing Volatility stance in a range of 3,5% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 11% to 16%. CAC_40_(FRANCE) Stable and aligned UpTrend about 11,9% in weekly progression. Bearish suppot under 5402. Reducing Volatility stance in a range of 2,2% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 13% to 16%. DAX_(GERMANY) Stable UpTrend about 3,8% in weekly progression. Bearish suppot under 13034. Reducing Volatility stance in a range of -1,8% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 7% to 6%. FTSE_100_(UK) Stable UpTrend about 8,3% in weekly progression. Bearish suppot under 6308. Reducing Volatility stance in a range of 2,4% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 9% to 9%. Dow_ Jones_Ind_Av_(USA) Stable and aligned UpTrend Take a Long Position with a Tactical Adjustment on portfolio composition from 10% to 9%. Nasdaq_100_(USA) Stable and aligned UpTrend Take a Long Position with a Tactical Adjustment on portfolio composition from 10% to 9%. Nikkei_225_(JAPAN) Stable and aligned UpTrend about 8,5% in weekly progression. Bearish suppot under 25425. Reducing Volatility stance in a range of -2,4% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 20% to 15%. Hang_Seng_(HONG KONG) Stable and aligned UpTrend about 6,1% in weekly progression. Bearish suppot under 26191. Reducing Volatility stance in a range of 1,6% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 17% to 12%. Shanghai_Comp_(CHINA) Stable UpTrend about 3% in weekly progression. Bullish resistence over 3380. Increasing Volatility stance in a range of 1,9% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 4% to 4%. BSE_Sensex_(INDIA) Stable and aligned UpTrend about 7,8% in weekly progression. Bearish suppot under 43453. Reducing Volatility stance in a range of 1,7% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 21% to 15%. RTSI_(RUSSIA) Stable UpTrend about 8,4% in weekly progression. Bullish resistence over 1282. Reducing Volatility stance in a range of 3% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 9% to 9%. Ibovespa_(BRAZIL) Unstable UpTrend about 9,8% in weekly progression. Bullish resistence over 17099. Increasing Volatility stance in a range of 7,7% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 0% to 14%. Currency & Comodity EUR/USD Unstable DownTrend about 0% in weekly mitigation. Take a Long Position with a Tactical Adjustment on portfolio composition from 24% to 17%. Gold Unstable DownTrend about -1,8% in weekly progression. Bullish resistence over 1897. Increasing Volatility stance in a range of -2,5% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from -6% to -8%. Crude_Oil_WTI Stable UpTrend about 6,8% in weekly progression. Bullish resistence over 42. Increasing Volatility stance in a range of 5,9% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 29% to 53%. Natural_Gas Unstable DownTrend about -10,1% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from 64% to -49%. Agricolture Stable and aligned UpTrend about 1,7% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from 5% to 38%. Bond BGOV_ITA_BTP Stable and aligned UpTrend about 1,2% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from 13% to 24%. BGOV_GERM_BUND Unstable DownTrend about 0% in weekly mitigation. BGOV_UK_GILT Stable and aligned DownTrend about -0,8% in weekly mitigation. Take a Short Position with a Tactical Adjustment on portfolio composition from -20% to -9%. BGOV_USA_Treasury Unstable UpTrend about 0,3% in weekly progression. BGOV_Emerg_Mrkt_Loc Stable UpTrend about 3,9% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from 17% to 24%. BOND_Corp_Europa Stable and aligned UpTrend about 0,9% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from 6% to 9%. BOND_Corp_Usa Unstable UpTrend about 2% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from -3% to 25%. BOND_Corp_Emerg Stable and aligned UpTrend about 2,2% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from 7% to 12%. BOND_High_Yeld_GL Stable and aligned UpTrend about 3,6% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from 29% to 40%. © MarkeTiming Research (ALL RIGHTS REDERVED) MarkeTiming Selection for the week of 16/11/2020 This Report is a rappresentative study of markets stance and does not constitute an investment advisory service. MARKET SELECTION weekly outlook TREND STABILITY PRIMARY TREND trend evolution VOLATILITY STANCE range evolution VOLATILITY DINAMIC volatility evolution TIMING RESISTENCE SUPPORT POWER Stability Trend Return Risk Dynamic Timing Power LONG TERM MEDIUM TERM SHORT TERM 30/ott 06/nov 13/nov 30/ott 06/nov 13/nov 30/ott 06/nov 13/nov 13/nov 13/nov 13/nov Stocks FTSE_MIB_(ITALY) 9% 14% 17% 7,9% 5,8% 7,0% 7,8% -7,0% 9,7% 6,2% 17,5% -8,5% 10,5% 5,2% 8,7% -23,6% 30,5% 66,5% 8,4% CAC_40_(FRANCE) 12% 16% 34% 39% 9,9% 8,1% 8,1% * 9,0% * -6,4% 8,0% 8,5% * 19,0% * -8,1% 8,5% 8,1% 14,0% * -14,7% 44,8% 133,8% * 19,4% 36,1% DAX_(GERMANY) 7% 20% 12% 8,9% 2,2% 5,0% 1,3% -8,6% * 8,0% 4,8% 14,7% -8,0% 8,5% 4,7% 9,8% -35,4% 40,8% 77,5% 16,9% FTSE_100_(UK) 6% 12% 30% 42% 3,2% 4,4% 6,1% 6,7% -4,8% 6,0% 6,9% 14,7% -6,0% 6,8% 7,7% 13,1% -84,6% * 24,2% 118,1% 13,9% 46,6% Dow_ Jones_Ind_Av_(USA) 10% 12,4% 5,9% 4,5% 3,0% -6,5% 6,9% 4,0% 13,4% -7,5% 6,4% -3,4% -13,6% -36,3% 45,4% * 7,4% 0,2% Nasdaq_100_(USA) 11% 17,8% 4,5% 2,1% 0,7% -5,5% 9,4% -1,3% * 11,2% -6,5% 9,9% -6,3% * -21,7% * -26,1% -0,8% -15,7% Nikkei_225_(JAPAN) 13% 15% 33% 14,9% 8,2% 5,0% 8,4% -2,3% 5,9% 4,4% 11,0% -2,7% 5,4% 4,1% 8,0% 12,2% * 10,6% 2,4% 1,5% Hang_Seng_(HONG KONG) 7% 13% 32% 6,0% 5,8% 4,1% 7,3% -3,3% 6,7% 1,7% 9,7% -3,8% 6,2% -2,1% -5,2% -1,0% Shanghai_Comp_(CHINA) 5% 8,2% 1,1% * 1,4% * -0,8% * -1,6% * 2,7% * -0,1% -5,4% * -2,1% * 3,5% * -2,9% -7,3% 0,8% -1,5% * 8,6% BSE_Sensex_(INDIA) 16% 15% 35% 19,5% * 10,5% * 4,8% 8,7% -2,6% 5,8% 3,7% 10,8% -3,7% 6,4% 3,3% -4,9% -26,3% 9,2% 32,6% 4,7% RTSI_(RUSSIA) 4% 15% 7% 1,9% 1,2% 6,5% 8,4% -8,4% 10,5% * 4,2% 18,5% -9,8% * 12,3% * 5,4% -0,3% -48,1% 20,4% 39,1% 10,4% Ibovespa_(BRAZIL) -10,2% * 2,9% 6,3% 5,4% -8,5% 9,4% 2,9% 17,9% -8,6% 10,5% 10,3% * -6,4% -34,6% 4,2% -20,8% * 0,5% Currency & Comodity EUR/USD 21% 7% 46% -10% 4,0% 0,5% 0,3% 1,0% -1,8% 1,9% -0,3% 2,7% -1,9% 2,4% -1,5% 15,8% -38,4% 49,8% -16,0% Gold -6% -49% -44% 4,8% -2,1% * -0,9% -0,9% -1,4% 3,9% -3,4% -6,1% -2,8% 4,6% -6,2% -22,4% -21,2% 15,4% -132,4% -10,6% -59,4% Crude_Oil_WTI 70% -11% 37% 11,7% 0,6% 3,8% * -1,5% * -10,0% 4,7% 7,2% -23,5% -12,7% 14,8% 14,1% 4,5% -47,8% 56,5% 99,0% -0,8% Natural_Gas 74% 54% 42,1% * 20,9% * -3,5% * 10,4% * 14,6% -14,7% 3,2% 24,0% 7,3% -16,5% 8,4% -1,2% 28,1% -23,0% 10,9% Agricolture 10% 2% 14% 46% 0,9% * 0,8% 0,6% 0,3% 0,5% -0,3% 1,3% 2,2% 1,2% -1,2% 1,4% 0,4% 9,3% 4,2% 37,8% 15,4% 58,7% Bond BGOV_ITA_BTP 13% -26% 4,4% 1,9% 0,3% 0,0% 0,4% 0,7% -0,1% 1,7% -0,6% 1,0% -1,3% -35,1% 24,9% -25,9% -194,4% BGOV_GERM_BUND -6% -16% -26% -44% 0,2% 0,0% -0,6% -0,7% 0,4% -0,1% -0,6% -1,6% 0,7% -0,4% -1,3% -37,1% 12,5% -67,0% -190,6% -28,9% -41,7% BGOV_UK_GILT -12% -24% -26% -13% -9% -2,2% * -2,2% * -1,4% * -2,7% * 0,1% -0,2% -1,2% -4,1% -1,4% -1,8% -2,7% -11,8% 16,2% -17,7% -97,5% -14,6% BGOV_USA_Treasury -6% -7% -20% 6% -1,0% -1,4% -0,5% -0,8% -0,1% 0,3% -0,3% -1,5% -0,7% 0,9% 0,8% -16,4% -51,2% 9,3% BGOV_Emerg_Mrkt_Loc 10% 22% 19% 12% 4% 0,2% 2,6% 2,3% * 2,5% 0,2% 1,7% 1,2% 5,2% 1,1% 2,4% 2,2% 21,9% 8,5% 64,2% 92,4% 6,3% BOND_Corp_Europa 9% 4% -11% 2,8% 1,2% 0,4% 0,4% -0,1% 0,6% 0,0% 1,5% 0,6% 0,8% -0,7% 8,1% 26,6% 43,3% -85,2% BOND_Corp_Usa -4% -5% -1,7% -0,9% 0,0% -0,4% 1,4% -0,2% 0,2% -3,1% 1,6% -2,1% 1,1% -13,7% -24,7% 2,7% -20,2% -7,5% BOND_Corp_Emerg 6% 8% 11% 3% 0,6% 1,1% 1,4% 0,9% 0,0% 1,2% 0,4% 4,0% -1,9% 2,5% 1,5% -10,3% -40,4% -6,2% 83,8% 4,2% BOND_High_Yeld_GL 44% 25% 19% 30% 9,9% * 10,1% * 1,5% 2,9% * -1,7% 1,4% 2,3% 5,9% -3,4% 3,7% 4,4% 35,0% 0,0% 118,7% 10,2% 5,4% 42,9% © MarkeTiming Research (ALL RIGHTS REDERVED) MarkeTiming Selection for the week of 16/11/2020 Stocks FTSE_MIB_(ITALY) Stable UpTrend about 7,8% in weekly progression. Bullish resistence over 21049. Increasing Volatility stance in a range of 5,1% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from -4% to 11%. CAC_40_(FRANCE) Stable and aligned UpTrend about 9% in weekly progression. Bullish resistence over 5462. Increasing Volatility stance in a range of 8,1% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from -3% to 13%. DAX_(GERMANY) Stable UpTrend about 1,2% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from -16% to 7%. FTSE_100_(UK) Stable UpTrend about 6,7% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from -7% to 9%. Dow_ Jones_Ind_Av_(USA) Stable and aligned UpTrend about 2,9% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from 0% to 10%. Nasdaq_100_(USA) Stable and aligned UpTrend Take a Long Position with a Tactical Adjustment on portfolio composition from 11% to 10%. Nikkei_225_(JAPAN) Stable and aligned UpTrend about 8,4% in weekly progression. Bullish resistence over 25587. Increasing Volatility stance in a range of 4,1% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 11% to 20%. Hang_Seng_(HONG KONG) Stable and aligned UpTrend about 7,2% in weekly progression. Bearish suppot under 25909. Reducing Volatility stance in a range of -2,1% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 43% to 17%. Shanghai_Comp_(CHINA) Unstable DownTrend about -0,7% in weekly progression. Bearish suppot under 3291. Increasing Volatility stance in a range of -2,8% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 0% to 4%. BSE_Sensex_(INDIA) Stable and aligned UpTrend about 8,6% in weekly progression. Bullish resistence over 43708. Increasing Volatility stance in a range of 3,3% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 15% to 21%. RTSI_(RUSSIA) Stable UpTrend about 8,3% in weekly progression. Bullish resistence over 1254. Increasing Volatility stance in a range of 5,3% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from -18% to 9%. Ibovespa_(BRAZIL) Unstable UpTrend about 5,4% in weekly progression. Bullish resistence over 16667. Increasing Volatility stance in a range of 10,3% (risk weight). Currency & Comodity EUR/USD Stable and aligned UpTrend Take a Long Position with a Tactical Adjustment on portfolio composition from 9% to 24%. Gold Unstable DownTrend about -0,8% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from 11% to -6%. Crude_Oil_WTI Unstable DownTrend about -1,4% in weekly mitigation. Take a Long Position with a Tactical Adjustment on portfolio composition from -46% to 29%. Natural_Gas Stable and aligned UpTrend about 10,3% in weekly progression. Bullish resistence over 3. Increasing Volatility stance in a range of 8,3% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 50% to 64%. Agricolture Stable and aligned UpTrend about 0,2% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from -4% to 5%. Bond BGOV_ITA_BTP Unstable DownTrend about 0% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from 18% to 13%. BGOV_GERM_BUND Unstable DownTrend about -0,6% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from 28% to -11%. BGOV_UK_GILT Stable and aligned DownTrend about -2,6% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from -2% to -20%. BGOV_USA_Treasury Stable DownTrend about -0,7% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from -3% to -10%. BGOV_Emerg_Mrkt_Loc Stable UpTrend about 2,4% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from 26% to 17%. BOND_Corp_Europa Stable and aligned UpTrend about 0,4% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from 30% to 6%. BOND_Corp_Usa Stable and aligned DownTrend about -0,4% in weekly mitigation. Take a Short Position with a Tactical Adjustment on portfolio composition from 0% to -3%. BOND_Corp_Emerg Stable UpTrend about 0,9% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from 18% to 7%. BOND_High_Yeld_GL Stable UpTrend about 2,8% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from 47% to 29%. © MarkeTiming Research (ALL RIGHTS REDERVED) MarkeTiming Selection for the week of 9/11/2020 This Report is a rappresentative study of markets stance and does not constitute an investment advisory service. MARKET SELECTION weekly outlook TREND STABILITY PRIMARY TREND trend evolution VOLATILITY STANCE range evolution VOLATILITY DINAMIC volatility evolution TIMING RESISTENCE SUPPORT POWER Stability Trend Return Risk Dynamic Timing Power LONG TERM MEDIUM TERM SHORT TERM 23/ott 30/ott 06/nov 23/ott 30/ott 06/nov 23/ott 30/ott 06/nov 06/nov 06/nov 06/nov Stocks FTSE_MIB_(ITALY) -4% 16% 12% -1,5% -2,7% -0,1% 0,4% -0,5% -7,0% 9,7% -11,4% -3,8% -8,5% 10,5% -4,7% -17,8% -23,6% 30,5% 10,9% 78,0% CAC_40_(FRANCE) -3% 24% 10% -1,0% -1,9% 0,0% 0,3% -0,5% -6,4% 8,0% -10,0% -4,2% -8,1% 8,5% -1,6% -17,0% -14,7% 44,8% 5,1% 71,2% DAX_(GERMANY) -17% 22% 1,1% -4,9% -2,1% -4,4% * -2,0% * -8,6% * 8,0% -13,4% * -5,3% * -8,0% 8,5% -5,7% 0,0% -35,4% 40,8% 3,4% FTSE_100_(UK) -9% -7% 13% 10% -5,0% -3,3% -0,3% -1,8% -1,0% -4,8% 6,0% -8,3% -4,1% -6,0% 6,8% -13,2% -7,2% -84,6% * 24,2% 3,0% 68,7% Dow_ Jones_Ind_Av_(USA) 24% 6,1% 0,6% -0,7% -0,9% -0,9% -6,5% 6,9% -9,6% -2,4% -7,5% 6,4% -14,9% -30,0% -36,3% 45,4% * 3,3% Nasdaq_100_(USA) 12% 11% 16,0% * 2,9% -0,4% 3,1% -1,3% -5,5% 9,4% -10,4% -3,7% -6,5% 9,9% -23,7% * -57,2% * -26,1% -0,8% 2,0% 76,3% Nikkei_225_(JAPAN) 11% 11% 15% 8,2% 2,3% 0,4% 3,0% 0,5% -2,3% 5,9% 6,1% -1,1% -2,7% 5,4% 7,1% * 0,8% 12,2% * 10,6% 23,5% 84,3% Hang_Seng_(HONG KONG) 4% 25% 100% 12% 1,3% 1,2% 1,3% * 6,6% * 2,2% -3,3% 6,7% 7,1% 2,1% -3,8% 6,2% -8,4% 12,0% -1,0% 9,2% 81,2% Shanghai_Comp_(CHINA) 6,4% -1,1% -0,7% 1,2% -1,7% -1,6% * 2,7% * -4,9% -2,8% -2,1% * 3,5% * -9,3% -35,8% 0,8% -1,5% * 2,1% BSE_Sensex_(INDIA) 19% 13% 9% 12,8% 5,1% * 0,5% 3,4% 1,8% -2,6% 5,8% 6,7% 2,0% -3,7% 6,4% -21,2% -22,6% -26,3% 9,2% -7,9% 74,2% RTSI_(RUSSIA) -19% 13% -8,2% -8,3% * -1,6% 1,2% 2,8% * -8,4% 10,5% * 12,2% * 3,8% -9,8% * 12,3% * -8,0% 13,5% -48,1% 20,4% 13,2% 83,7% Ibovespa_(BRAZIL) -31% 15% 9% -20,3% * -7,6% -2,8% * 3,8% 2,3% -8,5% 9,4% 10,2% 4,0% * -8,6% 10,5% -2,9% 20,4% * -34,6% 4,2% -6,2% 72,4% Currency & Comodity EUR/USD 3% 16% 47% 54% 3,5% 0,0% -0,3% 0,4% 1,3% -1,8% 1,9% 2,4% 1,5% -1,9% 2,4% 7,6% 18,0% -38,4% 49,8% 20,1% 75,9% Gold 7% 17% 46% 7,2% -0,2% 0,4% 0,9% 0,1% -1,4% 3,9% 5,3% 2,1% -2,8% 4,6% -11,3% -7,0% -21,2% 15,4% 7,0% 73,4% Crude_Oil_WTI -56% -37% 53% 2,7% -6,8% * -3,8% * -7,6% * -2,6% -10,0% 4,7% -20,6% -5,6% -12,7% 14,8% -11,2% -6,0% -47,8% 56,5% 18,7% Natural_Gas 99% 35% 19% 50,3% * 29,5% * 2,4% * 4,8% * 9,4% 14,6% -14,7% 25,4% 23,5% 7,3% -16,5% -6,4% -16,0% 28,1% -23,0% Agricolture 1% -11% 0,5% * 0,3% 0,2% -0,2% -1,3% 0,5% -0,3% -2,0% -1,8% 1,2% -1,2% 5,3% -33,0% 9,3% 4,2% Bond BGOV_ITA_BTP 22% 14% -8% 4,5% 2,3% 0,3% 0,8% -1,0% 0,4% 0,7% 1,6% -1,1% -0,6% 1,0% -8,4% -14,1% 24,9% -25,9% BGOV_GERM_BUND 7% 50% -21% 1,2% 1,0% 0,2% 0,7% -0,3% 0,4% -0,1% 1,0% -0,7% 0,7% -0,4% -14,7% -1,0% 12,5% -67,0% -19,7% BGOV_UK_GILT -2% -18% -0,3% -0,4% -0,1% -0,1% -1,4% 0,1% -0,2% -2,4% -2,2% -1,4% -1,8% 9,3% -2,1% 16,2% -17,7% -6,9% -41,7% BGOV_USA_Treasury -4% -17% -0,3% -0,9% * -0,1% * -0,2% * -0,6% -0,1% 0,3% -1,2% -0,8% -0,7% 0,9% -23,5% -4,8% -51,2% -6,9% -39,4% BGOV_Emerg_Mrkt_Loc 27% 20% 30% -2,6% * 0,0% 0,6% * 1,5% -0,6% 0,2% 1,7% 2,8% -1,4% 1,1% 2,4% 10,6% -42,5% 8,5% 64,2% 8,4% 75,2% BOND_Corp_Europa 11% 50% 14% 2,5% 1,0% 0,2% 0,7% -0,1% -0,1% 0,6% 1,1% -0,3% 0,6% 0,8% 20,4% 8,9% 26,6% 43,3% BOND_Corp_Usa -20% -1,2% -0,6% 0,5% 0,7% -1,8% 1,4% -0,2% 3,0% -2,1% 1,6% -2,1% -6,7% -26,1% -24,7% 2,7% -6,1% -47,9% BOND_Corp_Emerg 18% -1,1% -0,1% 0,6% 1,0% -0,7% 0,0% 1,2% 3,2% -1,3% -1,9% 2,5% -11,5% -15,7% -40,4% -6,2% -0,6% BOND_High_Yeld_GL 53% 41% 37% -15% 7,8% * 8,7% * 0,5% 2,3% * 0,9% -1,7% 1,4% 5,1% 2,3% -3,4% 3,7% 38,7% 105,9% 0,0% 118,8% -3,2% -38,9% © MarkeTiming Research (ALL RIGHTS REDERVED) MarkeTiming Selection for the week of 9/11/2020 Stocks FTSE_MIB_(ITALY) Unstable UpTrend about 0,4% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from -15% to -4%. CAC_40_(FRANCE) Unstable UpTrend about 0,2% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from -13% to -3%. DAX_(GERMANY) Unstable DownTrend about -4,3% in weekly mitigation. Take a Short Position with a Tactical Adjustment on portfolio composition from -18% to -16%. FTSE_100_(UK) Stable and aligned DownTrend about -1,7% in weekly mitigation. Take a Short Position with a Tactical Adjustment on portfolio composition from -15% to -7%. Dow_ Jones_Ind_Av_(USA) Unstable DownTrend about -0,9% in weekly mitigation. Nasdaq_100_(USA) Stable and aligned UpTrend about 3,1% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from 0% to 11%. Nikkei_225_(JAPAN) Stable and aligned UpTrend about 2,9% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from 0% to 11%. Hang_Seng_(HONG KONG) Stable UpTrend about 6,6% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from 9% to 43%. Shanghai_Comp_(CHINA) Unstable UpTrend about 1,2% in weekly progression. BSE_Sensex_(INDIA) Stable and aligned UpTrend about 3,4% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from 9% to 15%. RTSI_(RUSSIA) Unstable UpTrend about 1,1% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from -19% to -18%. Ibovespa_(BRAZIL) Unstable UpTrend about 3,8% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from 0% to -8%. Currency & Comodity EUR/USD Stable and aligned UpTrend about 0,3% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from 0% to 9%. Gold Unstable UpTrend about 0,9% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from -3% to 11%. Crude_Oil_WTI Unstable DownTrend about -7,6% in weekly mitigation. Take a Short Position with a Tactical Adjustment on portfolio composition from -7% to -46%. Natural_Gas Stable and aligned UpTrend Take a Long Position with a Tactical Adjustment on portfolio composition from 96% to 50%. Agricolture Unstable DownTrend about -0,2% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from 0% to -4%. Bond BGOV_ITA_BTP Stable and aligned UpTrend about 0,7% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from 12% to 18%. BGOV_GERM_BUND Stable and aligned UpTrend Take a Long Position with a Tactical Adjustment on portfolio composition from 7% to 28%. BGOV_UK_GILT Stable DownTrend about -0,1% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from 0% to -2%. BGOV_USA_Treasury Stable DownTrend about -0,1% in weekly mitigation. Take a Short Position with a Tactical Adjustment on portfolio composition from -18% to -3%. BGOV_Emerg_Mrkt_Loc Unstable UpTrend about 1,5% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from -14% to 26%. BOND_Corp_Europa Stable and aligned UpTrend about 0,7% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from 19% to 30%. BOND_Corp_Usa Unstable UpTrend BOND_Corp_Emerg Unstable UpTrend about 1% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from -2% to 18%. BOND_High_Yeld_GL Stable UpTrend about 2,3% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from 44% to 47%. © MarkeTiming Research (ALL RIGHTS REDERVED) MarkeTiming Selection for the week of 02/11/2020 This Report is a rappresentative study of markets stance and does not constitute an investment advisory service. MARKET SELECTION weekly outlook TREND STABILITY PRIMARY TREND trend evolution VOLATILITY STANCE range evolution VOLATILITY DINAMIC volatility evolution TIMING RESISTENCE SUPPORT POWER Stability Trend Return Risk Dynamic Timing Power LONG TERM MEDIUM TERM SHORT TERM 16/ott 23/ott 30/ott 16/ott 23/ott 30/ott 16/ott 23/ott 30/ott 30/ott 30/ott 30/ott Stocks FTSE_MIB_(ITALY) -20% -15% -12% -5,7% -6,5% -4,1% -5,9% -1,0% -0,5% -7,0% -10,9% -4,0% -3,8% -8,5% -11,2% -11,9% -17,8% -23,6% -2,2% CAC_40_(FRANCE) -17% -12% -11% -12% -5,0% -5,5% -3,7% -4,8% -0,2% -0,5% -6,4% -9,8% -3,4% -4,2% -8,1% -8,3% -4,1% -17,0% -14,7% -3,2% -52,1% DAX_(GERMANY) -18% -23% -15% -15% -1,7% -7,4% -5,9% * -8,9% * -1,1% -2,0% * -8,6% * -13,3% * -4,1% -5,3% * -8,0% -10,9% -19,7% 0,0% -35,4% -6,7% FTSE_100_(UK) -19% -14% -14% -35% -14% -7,5% -5,6% -2,9% -5,5% -1,6% -1,0% -4,8% -8,7% -3,7% -4,1% -6,0% -26,6% -30,8% -7,2% -84,6% * -8,8% -55,0% Dow_ Jones_Ind_Av_(USA) -11% -10% -15% -15% 3,5% -1,4% -3,5% -4,3% 0,1% -0,9% -6,5% -9,6% -2,3% -2,4% -7,5% -23,8% -3,6% -30,0% -36,3% -6,4% -62,4% Nasdaq_100_(USA) 14,2% * 1,4% -2,3% -1,8% 1,1% -1,3% -5,5% -10,5% -3,5% -3,7% -6,5% -29,6% * -24,3% -57,2% * -26,1% -5,9% Nikkei_225_(JAPAN) -15% 6,8% 1,4% -0,6% -0,2% -0,9% 0,5% -2,3% -3,3% -1,2% -1,1% -2,7% 3,5% * -3,1% 0,8% 12,2% * -70,0% Hang_Seng_(HONG KONG) 7% 12% -12% -0,7% -0,5% 0,6% * 2,8% * 1,1% 2,2% -3,3% 5,3% -2,9% 2,1% -3,8% -6,7% -39,8% 12,0% -1,0% -5,6% -51,4% Shanghai_Comp_(CHINA) 6,0% -1,4% -1,0% 0,2% 2,0% * -1,7% -1,6% * -5,1% -1,3% -2,8% -2,1% * -7,8% 6,4% * -35,8% 0,8% -2,7% BSE_Sensex_(INDIA) 10% 11,2% 4,4% * -0,3% 2,4% -1,3% 1,8% -2,6% 5,5% * -3,4% 2,0% -3,7% -13,1% -40,6% * -22,6% -26,3% -3,7% RTSI_(RUSSIA) -26% -18% -15% -20% -17% -9,3% -9,0% * -2,6% -7,1% -2,7% * 2,8% * -8,4% -10,5% -4,2% * 3,8% -9,8% * -15,8% -17,8% 13,5% -48,1% -80,7% Ibovespa_(BRAZIL) -14% -16% -18,9% * -5,0% 0,5% -0,1% 1,4% 2,3% -8,5% -8,9% 2,5% * 4,0% * -8,6% -2,8% -15,0% 20,4% * -34,6% -1,4% -74,9% Currency & Comodity EUR/USD -34% -60% 3,9% 0,5% -0,1% -0,6% -0,9% 1,3% -1,8% -2,0% -1,1% 1,5% -1,9% -4,2% -25,1% 18,0% -38,4% -9,0% -85,9% Gold -3% 6,3% -1,0% -0,6% -1,3% -1,6% 0,1% -1,4% -4,0% -2,4% 2,1% -2,8% -9,6% -27,5% -7,0% -21,2% -1,8% Crude_Oil_WTI -7% -42% -40% 1,8% -6,9% * -5,0% * -3,2% * 0,5% -2,6% -10,0% -17,2% 5,1% -5,6% -12,7% -15,6% -18,6% -6,0% -47,8% -8,4% -56,1% Natural_Gas 100% 89% 100% 25% 62,1% * 42,0% * 12,6% * 38,9% * -2,0% 9,4% 14,6% 31,7% -9,7% 23,5% 7,3% 4,4% -6,2% -16,0% 28,1% Agricolture 0% 0,0% * -0,3% -0,2% 0,1% 0,9% -1,3% 0,5% 2,0% 1,1% -1,8% 1,2% 5,6% 41,5% -33,0% 9,3% Bond BGOV_ITA_BTP 17% 8% 15% 4,1% 2,1% 0,1% 0,6% 0,7% -1,0% 0,4% 1,5% 0,8% -1,1% -0,6% -2,6% -14,9% -14,1% 24,9% 6,3% BGOV_GERM_BUND 6% 10% 1,0% 0,9% 0,3% 0,8% 0,7% -0,3% 0,4% 1,3% 0,7% -0,7% 0,7% -0,8% 1,0% -1,0% 12,5% 0,6% BGOV_UK_GILT -9% -0,2% -0,5% 0,0% -0,3% 1,4% -1,4% 0,1% -2,6% 2,4% -2,2% -1,4% 10,4% 51,0% -2,1% 16,2% -10,1% BGOV_USA_Treasury -2% -13% -41% -31% -0,1% -0,8% -0,1% -1,0% * 0,3% -0,6% -0,1% -1,1% 0,3% -0,8% -0,7% -15,5% -17,6% -4,8% -51,2% -4,7% BGOV_Emerg_Mrkt_Loc -14% 39% -3,9% * -1,3% -0,1% 0,3% 0,2% -0,6% 0,2% 1,7% 1,3% -1,4% 1,1% -0,4% 11,6% -42,5% 8,5% 4,2% 40,2% BOND_Corp_Europa 7% 32% 16% 10% 2,1% 0,8% 0,0% 0,5% 0,4% -0,1% -0,1% 0,8% 0,4% -0,3% 0,6% 13,0% 18,0% 8,9% 26,6% 10,8% BOND_Corp_Usa -15% -2,0% -1,5% * 0,0% 0,2% 1,4% -1,8% 1,4% 2,6% 1,2% -2,1% 1,6% -11,4% 21,5% -26,1% -24,7% 1,7% BOND_Corp_Emerg -12% 6% -24% 36% -2,7% -1,3% -0,4% * 0,5% 0,5% -0,7% 0,0% 2,4% 1,3% -1,3% -1,9% -9,9% 9,4% -15,7% -40,4% -5,9% 46,3% BOND_High_Yeld_GL 49% 57% 27% -6% 7,8% * 9,5% * 1,3% * 4,5% * 1,7% 0,9% -1,7% 7,5% 3,5% 2,3% -3,4% 34,5% 28,4% 105,9% 0,0% -7,1% © MarkeTiming Research (ALL RIGHTS REDERVED) MarkeTiming Selection for the week of 33/10/2020 Stocks FTSE_MIB_(ITALY) Stable DownTrend about -5,8% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from 3% to -15%. CAC_40_(FRANCE) Stable DownTrend about -4,7% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from 11% to -13%. DAX_(GERMANY) Stable DownTrend about -8,9% in weekly progression. Bullish resistence over 12404. Increasing Volatility stance in a range of -7,9% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from 0% to -18%. FTSE_100_(UK) Stable and aligned DownTrend about -5,5% in weekly progression. Bullish resistence over 5868. Increasing Volatility stance in a range of -5,9% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from -9% to -15%. Dow_ Jones_Ind_Av_(USA) Unstable DownTrend about -4,2% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from 12% to -10%. Nasdaq_100_(USA) Unstable DownTrend about -1,8% in weekly progression. Nikkei_225_(JAPAN) Unstable DownTrend about -0,2% in weekly progression. Hang_Seng_(HONG KONG) Unstable UpTrend Take a Long Position with a Tactical Adjustment on portfolio composition from 36% to 9%. Shanghai_Comp_(CHINA) Unstable UpTrend BSE_Sensex_(INDIA) Stable and aligned UpTrend Take a Long Position with a Tactical Adjustment on portfolio composition from 32% to 9%. RTSI_(RUSSIA) Stable and aligned DownTrend about -7% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from -14% to -19%. Ibovespa_(BRAZIL) Stable and aligned DownTrend about 0% in weekly progression. Currency & Comodity EUR/USD Unstable DownTrend about -0,5% in weekly progression. Gold Unstable DownTrend about -1,3% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from 6% to -3%. Crude_Oil_WTI Unstable DownTrend about -3,2% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from 3% to -7%. Natural_Gas Stable and aligned UpTrend about 38,8% in weekly progression. Bullish resistence over 3. Reducing Volatility stance in a range of 7,3% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 88% to 96%. Agricolture Unstable UpTrend about 0% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from 0% to 0%. Bond BGOV_ITA_BTP Stable and aligned UpTrend about 0,6% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from 10% to 12%. BGOV_GERM_BUND Stable and aligned UpTrend about 0,7% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from 4% to 7%. BGOV_UK_GILT Unstable DownTrend about -0,2% in weekly mitigation. BGOV_USA_Treasury Stable DownTrend about -1% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from -15% to -18%. BGOV_Emerg_Mrkt_Loc Unstable UpTrend about 0,2% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from 1% to -14%. BOND_Corp_Europa Stable and aligned UpTrend Take a Long Position with a Tactical Adjustment on portfolio composition from 15% to 19%. BOND_Corp_Usa Unstable UpTrend about 0,2% in weekly progression. BOND_Corp_Emerg Unstable UpTrend Take a Short Position with a Tactical Adjustment on portfolio composition from 6% to -2%. BOND_High_Yeld_GL Stable UpTrend Take a Long Position with a Tactical Adjustment on portfolio composition from 45% to 44%. © MarkeTiming Research (ALL RIGHTS REDERVED) MarkeTiming Selection for the week of 26/10/2020 This Report is a rappresentative study of markets stance and does not constitute an investment advisory service. MARKET SELECTION weekly outlook TREND STABILITY PRIMARY TREND trend evolution VOLATILITY STANCE range evolution VOLATILITY DINAMIC volatility evolution TIMING RESISTENCE SUPPORT POWER Stability Trend Return Risk Dynamic Timing Power LONG TERM MEDIUM TERM SHORT TERM 09/ott 16/ott 23/ott 09/ott 16/ott 23/ott 09/ott 16/ott 23/ott 23/ott 23/ott 23/ott Stocks FTSE_MIB_(ITALY) -3% 10% -10% 16% -1,5% -1,9% -0,1% 3,1% 2,8% -1,0% -0,5% 4,7% 3,0% -4,0% -3,8% -6,1% 12,8% -11,9% -17,8% -7,1% 46,5% CAC_40_(FRANCE) 12% 17% -0,9% -1,1% 0,3% 3,8% 2,5% -0,2% -0,5% 4,8% 2,3% -3,4% -4,2% -3,3% 11,0% -4,1% -17,0% -10,0% 53,3% DAX_(GERMANY) -17% 4,9% -0,9% -1,1% * 1,4% 2,9% -1,1% -2,0% * -6,1% * 2,9% -4,1% -5,3% * -2,5% * 9,3% -19,7% 0,0% -5,7% -38,5% FTSE_100_(UK) -9% 14% -5,5% -3,2% -1,0% 0,3% 1,9% -1,6% -1,0% 5,4% 2,3% -3,7% -4,1% -10,0% 5,1% -30,8% -7,2% -7,7% 44,4% Dow_ Jones_Ind_Av_(USA) 11% 14% -16% 8,2% 3,6% 0,5% 4,4% 3,3% 0,1% -0,9% 5,3% 3,3% -2,3% -2,4% -9,2% -34,6% -3,6% -30,0% 2,7% Nasdaq_100_(USA) 22% 15% -31% 18,2% * 5,0% 0,5% 5,0% 4,2% 1,1% -1,3% 8,2% 4,1% -3,5% -3,7% -36,1% * -37,3% * -24,3% -57,2% * -2,6% Nikkei_225_(JAPAN) 10% 7,8% 2,6% 0,4% 1,3% 2,6% -0,9% 0,5% 3,3% 2,0% * -1,2% -1,1% -6,2% -0,4% -3,1% 0,8% Hang_Seng_(HONG KONG) 22% 50% -0,8% -0,3% 2,1% 7,2% 2,8% 1,1% 2,2% 7,1% 2,8% -2,9% 2,1% -10,7% -1,1% -39,8% 12,0% -5,6% Shanghai_Comp_(CHINA) 10% -19% -17% 8,2% 1,0% 1,2% 1,8% 1,7% 2,0% * -1,7% 5,1% 2,4% -1,3% -2,8% -14,9% -2,5% 6,4% * -35,8% -43,3% BSE_Sensex_(INDIA) 20% 27% 50% -12% 12,4% 6,5% * 2,0% 8,8% * 4,7% -1,3% 1,8% 8,8% 4,4% -3,4% 2,0% -5,5% 16,3% * -40,6% * -22,6% 4,5% RTSI_(RUSSIA) -14% 18% -7,4% -6,9% * -1,0% -0,1% * 1,4% * -2,7% * 2,8% * -6,0% 3,1% -4,2% * 3,8% -4,4% -8,2% -17,8% 13,5% 46,7% Ibovespa_(BRAZIL) 11% -19,2% * -4,4% 2,3% * 2,2% 5,3% * 1,4% 2,3% 9,0% * 5,9% * 2,5% * 4,0% * -5,2% 12,1% -15,0% 20,4% * Currency & Comodity EUR/USD 5% 4% 27% 45% 4,5% 1,2% 0,4% 2,0% 0,9% -0,9% 1,3% 2,3% 1,0% -1,1% 1,5% 6,4% 10,4% -25,1% 18,0% 1,9% 53,8% Gold 8% 5% -4% 8,1% 0,4% 0,3% 2,0% 1,6% -1,6% 0,1% 4,3% 3,0% -2,4% 2,1% -2,4% 12,3% -27,5% -7,0% -5,1% Crude_Oil_WTI 9% -3% -2% 8,4% 0,2% 1,4% -1,2% * 9,7% 0,5% -2,6% -12,9% 10,9% 5,1% -5,6% -14,4% 17,1% -18,6% -6,0% -3,1% Natural_Gas 77% 88% 100% -24% 47,5% * 32,3% * 7,6% * 39,7% * 13,1% -2,0% 9,4% 34,9% 13,8% -9,7% 23,5% -5,4% 17,0% -6,2% -16,0% Agricolture -1% -49% -48% -0,2% * -0,5% * -0,3% * -0,9% 0,0% 0,9% -1,3% -2,0% 1,1% 1,1% -1,8% -2,6% 4,4% 41,5% -33,0% 3,5% -63,5% Bond BGOV_ITA_BTP 16% 6% -7% -25% 4,1% 2,2% 0,1% 0,8% 0,6% 0,7% -1,0% 2,0% 0,8% 0,8% -1,1% -0,9% 0,2% -14,9% -14,1% -20,5% -39,7% BGOV_GERM_BUND 6% 3% 1,0% 0,8% 0,4% 0,4% 0,0% 0,7% -0,3% 1,3% -0,5% 0,7% -0,7% -1,0% -11,1% 1,0% -1,0% 2,5% BGOV_UK_GILT -9% -29% 0,1% -0,4% 0,2% -1,4% * -0,3% 1,4% -1,4% -2,6% -1,4% 2,4% -2,2% 5,9% -26,3% 51,0% -2,1% -0,8% -68,4% BGOV_USA_Treasury -4% -8% -34% -0,1% -1,0% -0,4% -1,2% -0,5% 0,3% -0,6% -1,5% -0,4% 0,3% -0,8% -11,2% 41,0% -17,6% -4,8% BGOV_Emerg_Mrkt_Loc 2% -21% -20% -4,0% * -1,4% 0,3% 0,3% 0,5% 0,2% -0,6% 2,6% 1,1% 1,3% -1,4% -2,3% 9,5% 11,6% -42,5% -4,3% -42,7% BOND_Corp_Europa 9% 6% 32% 2,3% 1,1% 0,3% 0,9% 0,4% 0,4% -0,1% 1,2% 0,4% 0,4% -0,3% 11,9% -8,7% 18,0% 8,9% 5,2% BOND_Corp_Usa -13% -9% -13% -27% -2,5% -2,1% * -0,5% * -1,4% -0,7% 1,4% -1,8% -2,6% -0,9% 1,2% -2,1% -1,6% -6,8% 21,5% -26,1% -1,0% -63,5% BOND_Corp_Emerg 7% -8% -2,7% -1,0% 0,1% 1,0% 0,7% 0,5% -0,7% 2,5% 1,3% 1,3% -1,3% -0,5% 0,8% 9,4% -15,7% -2,0% BOND_High_Yeld_GL 52% 51% 34% 52% 7,5% * 10,2% * 2,8% * 7,6% * 3,6% 1,7% 0,9% 9,6% 4,1% 3,5% 2,3% 40,1% 59,7% 28,4% 105,9% -4,8% © MarkeTiming Research (ALL RIGHTS REDERVED) MarkeTiming Selection for the week of 26/10/2020 Stocks FTSE_MIB_(ITALY) Unstable UpTrend Take a Long Position with a Tactical Adjustment on portfolio composition from -2% to 3%. CAC_40_(FRANCE) Unstable UpTrend Take a Long Position with a Tactical Adjustment on portfolio composition from -2% to 11%. DAX_(GERMANY) Stable and aligned UpTrend FTSE_100_(UK) Unstable UpTrend Take a Short Position with a Tactical Adjustment on portfolio composition from -4% to -9%. Dow_ Jones_Ind_Av_(USA) Stable and aligned UpTrend Take a Long Position with a Tactical Adjustment on portfolio composition from 11% to 12%. Nasdaq_100_(USA) Stable and aligned UpTrend Take a Long Position with a Tactical Adjustment on portfolio composition from 31% to 18%. Nikkei_225_(JAPAN) Stable and aligned UpTrend about 1,3% in weekly progression. Bullish resistence over 23707. Increasing Volatility stance in a range of -1,1% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 8% to 10%. Hang_Seng_(HONG KONG) Unstable UpTrend about 7,2% in weekly progression. Bullish resistence over 24970. Increasing Volatility stance in a range of 2% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 0% to 36%. Shanghai_Comp_(CHINA) Stable UpTrend Take a Long Position with a Tactical Adjustment on portfolio composition from 11% to 9%. BSE_Sensex_(INDIA) Stable and aligned UpTrend about 8,8% in weekly progression. Bearish suppot under 40150. Reducing Volatility stance in a range of 2% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 13% to 32%. RTSI_(RUSSIA) Stable and aligned DownTrend about 0% in weekly mitigation. Take a Short Position with a Tactical Adjustment on portfolio composition from -31% to -14%. Ibovespa_(BRAZIL) Unstable UpTrend about 2,2% in weekly progression. Currency & Comodity EUR/USD Stable and aligned UpTrend about 2% in weekly progression. Bullish resistence over 1. Increasing Volatility stance in a range of 1,5% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 1% to 4%. Gold Stable and aligned UpTrend about 2% in weekly progression. Bearish suppot under 1895. Increasing Volatility stance in a range of 2% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 1% to 6%. Crude_Oil_WTI Unstable DownTrend about -1,2% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from -1% to 3%. Natural_Gas Stable and aligned UpTrend about 39,7% in weekly progression. Bearish suppot under 2. Increasing Volatility stance in a range of 23,5% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 73% to 88%. Agricolture Stable DownTrend about -0,9% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from 17% to 0%. Bond BGOV_ITA_BTP Stable and aligned UpTrend Take a Long Position with a Tactical Adjustment on portfolio composition from 34% to 10%. BGOV_GERM_BUND Stable and aligned UpTrend Take a Long Position with a Tactical Adjustment on portfolio composition from 21% to 4%. BGOV_UK_GILT Unstable DownTrend about -1,4% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from 0% to -9%. BGOV_USA_Treasury Stable DownTrend about -1,2% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from 0% to -15%. BGOV_Emerg_Mrkt_Loc Unstable UpTrend Take a Long Position with a Tactical Adjustment on portfolio composition from 0% to 1%. BOND_Corp_Europa Stable and aligned UpTrend Take a Long Position with a Tactical Adjustment on portfolio composition from 11% to 15%. BOND_Corp_Usa Stable and aligned DownTrend about -1,3% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from 9% to -11%. BOND_Corp_Emerg Unstable UpTrend Take a Long Position with a Tactical Adjustment on portfolio composition from 9% to 6%. BOND_High_Yeld_GL Stable UpTrend about 7,6% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from 51% to 45%. © MarkeTiming Research (ALL RIGHTS REDERVED) MarkeTiming Selection for the week of 19/10/2020 This Report is a rappresentative study of markets stance and does not constitute an investment advisory service. MARKET SELECTION weekly outlook TREND STABILITY PRIMARY TREND trend evolution VOLATILITY STANCE range evolution VOLATILITY DINAMIC volatility evolution TIMING RESISTENCE SUPPORT POWER Stability Trend Return Risk Dynamic Timing Power LONG TERM MEDIUM TERM SHORT TERM 02/ott 09/ott 16/ott 02/ott 09/ott 16/ott 02/ott 09/ott 16/ott 16/ott 16/ott 16/ott Stocks FTSE_MIB_(ITALY) -2% 17% -1,1% -1,0% 1,4% -0,7% 2,0% 2,8% -1,0% -6,2% 2,4% 3,0% -4,0% -11,5% -2,9% 12,8% -11,9% 36,3% CAC_40_(FRANCE) -3% 25% -1,0% -0,6% 1,5% -0,9% 2,0% 2,5% -0,2% -6,3% 2,4% 2,3% -3,4% -9,0% 5,9% 11,0% -4,1% 13,5% 41,0% DAX_(GERMANY) 7% -5% -13% 18% 6,9% 1,3% 1,1% -1,6% 1,8% 2,9% -1,1% -6,1% 2,6% 2,9% -4,1% -17,1% 14,9% 9,3% -19,7% 39,1% FTSE_100_(UK) -4% -20% 23% -4,7% -2,1% 0,5% -1,5% 1,0% 1,9% -1,6% -4,5% 2,4% 2,3% -3,7% -20,2% 10,7% 5,1% -30,8% 49,6% Dow_ Jones_Ind_Av_(USA) 14% 9% 9,2% 5,1% 2,7% 3,2% 2,0% 3,3% 0,1% 8,2% 2,5% 3,3% -2,3% -13,2% 15,9% * -34,6% -3,6% 0,6% Nasdaq_100_(USA) 28% 25% 42% -16% 22,1% * 8,7% * 4,7% * 8,2% * 1,0% 4,2% 1,1% 13,1% * -3,3% 4,1% -3,5% -26,4% -61,4% * -37,3% * -24,3% -3,3% Nikkei_225_(JAPAN) 9% -17% 7,7% 2,9% 0,7% 0,2% -0,8% 2,6% -0,9% 3,3% -2,9% 2,0% * -1,2% -4,6% * -14,3% -0,4% -3,1% -3,8% -33,2% Hang_Seng_(HONG KONG) -26% -1,9% -0,9% 2,6% -0,3% 1,0% 2,8% 1,1% -7,0% 2,2% 2,8% -2,9% -21,2% -12,0% -1,1% -39,8% -1,5% Shanghai_Comp_(CHINA) 11% 9,3% 2,5% 2,5% -0,1% 0,0% 1,7% 2,0% * -4,9% -1,3% 2,4% -1,3% -8,7% -24,5% -2,5% 6,4% * BSE_Sensex_(INDIA) 18% 9% -26% 12,0% 7,2% 3,7% 2,9% 3,5% * 4,7% -1,3% 11,6% 3,1% * 4,4% -3,4% -15,8% 16,3% * -40,6% * -2,7% RTSI_(RUSSIA) -12% -23% -58% -7,7% -6,7% * -1,1% * -7,8% * -1,4% 1,4% * -2,7% * -8,9% -4,9% 3,1% -4,2% * -16,6% -7,5% -8,2% -17,8% Ibovespa_(BRAZIL) -20% -20,7% * -5,2% 1,8% -6,5% -6,4% * 5,3% * 1,4% -13,3% * -6,7% * 5,9% * 2,5% * -38,3% * -60,2% 12,1% -15,0% Currency & Comodity EUR/USD 5% -3% -22% -41% 4,1% 0,9% 0,2% * -1,1% 0,7% 0,9% -0,9% -2,2% 1,3% 1,0% -1,1% -11,6% 22,2% 10,4% -25,1% -2,4% -36,5% Gold 10% -8% -24% 8,4% 0,7% 0,5% -2,8% * 2,0% 1,6% -1,6% -5,8% 3,7% 3,0% -2,4% -19,1% 2,8% 12,3% -27,5% 0,1% Crude_Oil_WTI -1% -17% -5% 6,3% -0,3% * 1,0% -0,4% -8,1% 9,7% 0,5% -11,9% -10,4% 10,9% 5,1% -26,5% -28,4% 17,1% -18,6% -4,6% Natural_Gas 83% 85% 52% 40,7% * 29,1% * 11,0% * 30,6% * 15,3% 13,1% -2,0% 42,0% -16,8% 13,8% -9,7% -1,8% -16,0% 17,0% -6,2% Agricolture 1% 3% 48% 37% 54% 0,7% * 0,2% 0,3% 1,2% -0,5% 0,0% 0,9% 1,7% -1,2% 1,1% 1,1% 10,9% -16,3% 4,4% 41,5% 1,7% 50,0% Bond BGOV_ITA_BTP 28% 22% 52% 4,9% 3,1% 1,0% 2,6% 0,6% 0,6% 0,7% 2,7% 0,8% 0,8% 0,8% 6,1% 21,5% 0,2% -14,9% -1,9% BGOV_GERM_BUND 6% 10% 48% 27% 0,9% 0,8% 0,4% 1,1% 0,0% 0,0% 0,7% 1,2% 0,3% -0,5% 0,7% 9,6% 10,9% -11,1% 1,0% 3,4% 47,3% BGOV_UK_GILT 37% 31% 0,3% -0,4% 0,2% 0,3% -1,0% -0,3% 1,4% -2,6% -1,6% -1,4% 2,4% 4,2% 1,1% -26,3% 51,0% 4,6% 52,6% BGOV_USA_Treasury -13% 0,6% -0,5% -0,1% * -0,3% -0,4% -0,5% 0,3% -1,2% -0,6% -0,4% 0,3% -13,0% -26,4% 41,0% -17,6% BGOV_Emerg_Mrkt_Loc 22% -4,5% * -1,8% * 0,3% -0,8% * 0,2% 0,5% 0,2% -2,7% 1,5% 1,1% 1,3% -2,9% -0,5% 9,5% 11,6% 2,4% 38,8% BOND_Corp_Europa 11% 13% 2,2% 1,1% 0,4% 0,7% 0,3% 0,4% 0,4% 1,3% 0,6% 0,4% 0,4% 0,0% 27,6% -8,7% 18,0% 3,6% BOND_Corp_Usa 10% 16% 19% -1,3% -1,1% 0,4% 1,1% -0,3% -0,7% 1,4% 2,2% -1,4% -0,9% 1,2% 11,9% 4,9% -6,8% 21,5% 1,2% 34,9% BOND_Corp_Emerg 9% -2,6% -0,6% 0,9% 1,1% 0,5% 0,7% 0,5% 2,6% 0,8% 1,3% 1,3% 3,3% 0,7% 0,8% 9,4% -0,2% BOND_High_Yeld_GL 54% 49% 21% 5,6% * 9,1% * 2,7% * 5,7% * 1,2% 3,6% 1,7% 8,9% 3,3% 4,1% 3,5% 28,6% 16,7% 59,7% 28,4% -2,9% © MarkeTiming Research (ALL RIGHTS REDERVED) MarkeTiming Selection for the week of 19/10/2020 Stocks FTSE_MIB_(ITALY) Stable and aligned DownTrend about -0,6% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from -3% to -2%. CAC_40_(FRANCE) Stable and aligned DownTrend about -0,8% in weekly progression. Bullish resistence over 4976. Increasing Volatility stance in a range of -3,3% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from -5% to -2%. DAX_(GERMANY) Unstable DownTrend about -1,5% in weekly progression. Bullish resistence over 13132. Increasing Volatility stance in a range of -4% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 1% to 1%. FTSE_100_(UK) Stable and aligned DownTrend about -1,4% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from 0% to -4%. Dow_ Jones_Ind_Av_(USA) Stable and aligned UpTrend about 3,1% in weekly progression. Bearish suppot under 28181. Increasing Volatility stance in a range of -2,2% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 10% to 11%. Nasdaq_100_(USA) Stable and aligned UpTrend about 8,2% in weekly progression. Bearish suppot under 11765. Increasing Volatility stance in a range of -3,4% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 45% to 31%. Nikkei_225_(JAPAN) Stable and aligned UpTrend Take a Long Position with a Tactical Adjustment on portfolio composition from 5% to 8%. Hang_Seng_(HONG KONG) Stable and aligned DownTrend about -0,2% in weekly mitigation. Shanghai_Comp_(CHINA) Unstable DownTrend about 0% in weekly mitigation. Take a Long Position with a Tactical Adjustment on portfolio composition from 1% to 11%. BSE_Sensex_(INDIA) Stable and aligned UpTrend Take a Long Position with a Tactical Adjustment on portfolio composition from 14% to 13%. RTSI_(RUSSIA) Stable and aligned DownTrend about -7,8% in weekly progression. Bullish resistence over 1169. Increasing Volatility stance in a range of -4,1% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from -14% to -31%. Ibovespa_(BRAZIL) Stable and aligned DownTrend about -6,5% in weekly mitigation. Take a Short Position with a Tactical Adjustment on portfolio composition from -22% to -19%. Currency & Comodity EUR/USD Unstable DownTrend about -1,1% in weekly progression. Bullish resistence over 1. Increasing Volatility stance in a range of -1% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 7% to 1%. Gold Unstable DownTrend about -2,8% in weekly progression. Bullish resistence over 1930. Increasing Volatility stance in a range of -2,3% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 0% to 1%. Crude_Oil_WTI Unstable DownTrend about -0,4% in weekly mitigation. Take a Short Position with a Tactical Adjustment on portfolio composition from 63% to -1%. Natural_Gas Stable and aligned UpTrend Take a Long Position with a Tactical Adjustment on portfolio composition from 81% to 73%. Agricolture Stable UpTrend about 1,1% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from 0% to 17%. Bond BGOV_ITA_BTP Stable and aligned UpTrend about 2,6% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from 44% to 34%. BGOV_GERM_BUND Stable and aligned UpTrend about 1,1% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from 2% to 21%. BGOV_UK_GILT Unstable UpTrend about 0,3% in weekly progression. BGOV_USA_Treasury Unstable DownTrend about -0,3% in weekly mitigation. BGOV_Emerg_Mrkt_Loc Stable and aligned DownTrend about -0,7% in weekly mitigation. BOND_Corp_Europa Stable and aligned UpTrend about 0,7% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from 5% to 11%. BOND_Corp_Usa Unstable UpTrend about 1,1% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from -8% to 9%. BOND_Corp_Emerg Unstable UpTrend about 1,1% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from -11% to 9%. BOND_High_Yeld_GL Stable UpTrend about 5,7% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from 39% to 51%. © MarkeTiming Research (ALL RIGHTS REDERVED) MarkeTiming Selection for the week of 12/10/2020 This Report is a rappresentative study of markets stance and does not constitute an investment advisory service. MARKET SELECTION weekly outlook TREND STABILITY PRIMARY TREND trend evolution VOLATILITY STANCE range evolution VOLATILITY DINAMIC volatility evolution TIMING RESISTENCE SUPPORT POWER Stability Trend Return Risk Dynamic Timing Power LONG TERM MEDIUM TERM SHORT TERM 25/set 02/ott 09/ott 25/set 02/ott 09/ott 25/set 02/ott 09/ott 09/ott 09/ott 09/ott Stocks FTSE_MIB_(ITALY) -4% 12% -1,9% -1,2% 0,7% -1,1% -4,2% 2,0% 2,8% -7,7% -4,7% 2,4% 3,0% -7,8% -38,8% -2,9% 12,8% * CAC_40_(FRANCE) -6% 10% -2,1% -1,2% 0,2% -1,7% -5,0% 2,0% 2,5% -8,6% -5,9% 2,4% 2,3% -6,9% -56,1% 5,9% 11,0% DAX_(GERMANY) 7% -4% 6,7% 1,4% 0,5% -1,1% -4,9% 1,8% 2,9% -7,7% -5,2% 2,6% 2,9% -8,8% -70,4% * 14,9% 9,3% FTSE_100_(UK) -1% 17% -5,0% -2,0% 0,3% -0,3% -2,7% 1,0% 1,9% -5,9% -4,0% 2,4% 2,3% -8,5% -47,9% 10,7% 5,1% 32,5% Dow_ Jones_Ind_Av_(USA) 10% 11% -32% 18% 7,6% 4,1% 1,9% 3,3% -2,1% 2,0% 3,3% 7,7% -3,5% 2,5% 3,3% -18,0% -34,9% 15,9% * -34,6% 35,6% Nasdaq_100_(USA) 19% 19% 100% -35% 19% 17,9% * 5,2% 2,1% 5,8% * 1,7% * 1,0% 4,2% 9,2% 4,5% * -3,3% 4,1% -30,0% -7,7% -61,4% * -37,3% * 36,3% Nikkei_225_(JAPAN) 8% 3% 27% 7,2% 2,6% 0,4% 0,9% -0,7% -0,8% 2,6% 3,3% -1,5% -2,9% 2,0% * -4,5% * 9,1% * -14,3% -0,4% 5,1% 47,2% Hang_Seng_(HONG KONG) -5% -4,1% -2,8% 0,6% -1,6% -5,0% 1,0% 2,8% -7,1% -5,9% 2,2% 2,8% -22,5% -45,6% -12,0% -1,1% -11,3% Shanghai_Comp_(CHINA) 1% 5,9% -0,2% -0,5% 0,4% -3,6% 0,0% 1,7% -4,5% -4,3% -1,3% 2,4% -4,7% -16,0% -24,5% -2,5% -11,1% BSE_Sensex_(INDIA) 15% 14% 20% 10,1% 6,4% * 2,9% * 4,3% -3,8% 3,5% * 4,7% 10,5% * -6,6% 3,1% * 4,4% -15,3% -35,5% 38,0% RTSI_(RUSSIA) -13% -16% -8,0% -6,7% -2,6% -4,8% -5,2% -1,4% 1,4% * -10,3% -5,4% -4,9% 3,1% -13,4% -24,3% -7,5% -8,2% Ibovespa_(BRAZIL) -28% -18% 11% -24,4% * -9,1% * -3,2% * -5,4% * -6,5% * -6,4% * 5,3% * -13,7% * -9,3% * -6,7% * 5,9% * -31,1% * -48,3% -60,2% 12,1% -3,4% Currency & Comodity EUR/USD 8% 31% 4,4% 1,3% 0,1% -0,1% -1,9% 0,7% 0,9% -2,4% -2,2% 1,3% 1,0% 3,8% -47,8% 22,2% 10,4% 39,4% Gold 8,7% 1,0% -0,5% * -0,8% * -4,7% 2,0% 1,6% -6,7% -5,8% 3,7% 3,0% -20,2% -90,6% 2,8% 12,3% Crude_Oil_WTI 28% 100% 50% 69% 3,7% -1,0% * 0,5% 8,6% -1,8% -8,1% 9,7% 12,0% -6,4% -10,4% 10,9% -12,2% -77,8% -28,4% 17,1% 15,6% 72,0% Natural_Gas 91% 72% 50% 33,4% * 24,7% * 10,7% * 22,6% * 2,2% 15,3% 13,1% 41,9% 24,6% -16,8% 13,8% -14,9% 0,4% -16,0% 17,0% 3,9% Agricolture -1% 0,0% * -0,5% -0,2% 0,2% 0,8% -0,5% 0,0% 1,9% 1,3% -1,2% 1,1% 8,5% 27,4% -16,3% 4,4% -6,4% Bond BGOV_ITA_BTP 18% 17% 100% 4,1% * 2,5% 0,7% 2,4% 0,7% 0,6% 0,6% 2,4% 1,1% 0,8% 0,8% 12,2% 31,0% 21,5% 0,2% -1,7% BGOV_GERM_BUND 2% 3% 31% 0,4% 0,3% 0,1% 0,4% 0,4% 0,0% 0,0% 0,6% 0,5% 0,3% -0,5% 11,6% 52,2% 10,9% -11,1% -3,0% 58,5% BGOV_UK_GILT -6% -9% -21% 15% -0,4% -1,3% -0,7% * -1,2% 0,3% -1,0% -0,3% -2,4% -1,1% -1,6% -1,4% -0,6% -4,5% 1,1% -26,3% -3,7% 31,4% BGOV_USA_Treasury -6% 32% 0,5% -0,8% -0,6% -0,8% 0,3% -0,4% -0,5% -1,2% 0,3% -0,6% -0,4% -17,5% -26,4% 41,0% 8,6% BGOV_Emerg_Mrkt_Loc -19% -1% -5,2% * -2,5% * -0,3% -0,1% -1,6% 0,2% 0,5% -3,5% -2,1% 1,5% 1,1% -6,7% -31,3% -0,5% 9,5% 0,2% BOND_Corp_Europa 7% 4% 20% 1,8% 0,8% 0,2% 0,5% -0,3% 0,3% 0,4% 0,9% -0,5% 0,6% 0,4% -1,1% -46,0% 27,6% -8,7% 0,7% 35,7% BOND_Corp_Usa -12% -5% -2,3% -2,2% -0,5% -0,7% 0,7% -0,3% -0,7% -2,0% 1,4% -1,4% -0,9% 9,8% 29,1% 4,9% -6,8% -9,6% BOND_Corp_Emerg -12% -3,6% -1,2% 0,2% -1,7% * -0,6% 0,5% 0,7% -3,4% -1,2% 0,8% 1,3% -1,8% -0,6% 0,7% 0,8% -3,9% BOND_High_Yeld_GL 35% 44% 47% 34% 3,8% 8,1% * 2,6% * 6,2% * -0,9% 1,2% 3,6% 7,8% -2,1% 3,3% 4,1% 16,1% 15,9% 16,7% 59,7% 17,9% 42,3% © MarkeTiming Research (ALL RIGHTS REDERVED) MarkeTiming Selection for the week of 12/10/2020 Stocks FTSE_MIB_(ITALY) Stable and aligned DownTrend about -1,1% in weekly mitigation. Take a Short Position with a Tactical Adjustment on portfolio composition from -5% to -3%. CAC_40_(FRANCE) Stable and aligned DownTrend about -1,7% in weekly mitigation. Take a Short Position with a Tactical Adjustment on portfolio composition from -7% to -5%. DAX_(GERMANY) Unstable DownTrend about -1,1% in weekly mitigation. Take a Long Position with a Tactical Adjustment on portfolio composition from 0% to 1%. FTSE_100_(UK) Stable and aligned DownTrend about -0,2% in weekly mitigation. Take a Short Position with a Tactical Adjustment on portfolio composition from 0% to 0%. Dow_ Jones_Ind_Av_(USA) Stable and aligned UpTrend about 3,3% in weekly progression. Bullish resistence over 28676. Increasing Volatility stance in a range of 3,3% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 0% to 10%. Nasdaq_100_(USA) Stable and aligned UpTrend about 5,7% in weekly progression. Bullish resistence over 11727. Increasing Volatility stance in a range of 4% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 0% to 45%. Nikkei_225_(JAPAN) Stable and aligned UpTrend about 0,9% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from 0% to 5%. Hang_Seng_(HONG KONG) Stable and aligned DownTrend about -1,5% in weekly mitigation. Take a Short Position with a Tactical Adjustment on portfolio composition from -13% to -5%. Shanghai_Comp_(CHINA) Stable and aligned UpTrend about 0,3% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from -15% to 1%. BSE_Sensex_(INDIA) Stable and aligned UpTrend about 4,2% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from 0% to 14%. RTSI_(RUSSIA) Stable and aligned DownTrend about -4,8% in weekly mitigation. Take a Short Position with a Tactical Adjustment on portfolio composition from -14% to -14%. Ibovespa_(BRAZIL) Stable and aligned DownTrend about -5,4% in weekly mitigation. Take a Short Position with a Tactical Adjustment on portfolio composition from -26% to -22%. Currency & Comodity EUR/USD Unstable DownTrend about -0,1% in weekly mitigation. Take a Long Position with a Tactical Adjustment on portfolio composition from -36% to 7%. Gold Unstable DownTrend about -0,7% in weekly mitigation. Crude_Oil_WTI Unstable UpTrend about 8,5% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from -48% to 63%. Natural_Gas Stable and aligned UpTrend about 22,6% in weekly progression. Bullish resistence over 2. Increasing Volatility stance in a range of 13,7% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 28% to 81%. Agricolture Unstable UpTrend about 0,2% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from 0% to 0%. Bond BGOV_ITA_BTP Stable and aligned UpTrend about 2,4% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from 47% to 44%. BGOV_GERM_BUND Stable and aligned UpTrend Take a Long Position with a Tactical Adjustment on portfolio composition from 4% to 2%. BGOV_UK_GILT Stable DownTrend about -1,2% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from 0% to -7%. BGOV_USA_Treasury Unstable DownTrend about -0,8% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from 0% to -5%. BGOV_Emerg_Mrkt_Loc Stable and aligned DownTrend about -0,1% in weekly mitigation. Take a Short Position with a Tactical Adjustment on portfolio composition from -20% to -10%. BOND_Corp_Europa Stable and aligned UpTrend about 0,5% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from 3% to 5%. BOND_Corp_Usa Stable and aligned DownTrend about -0,7% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from -8% to -8%. BOND_Corp_Emerg Stable and aligned DownTrend about -1,6% in weekly mitigation. Take a Short Position with a Tactical Adjustment on portfolio composition from -25% to -11%. BOND_High_Yeld_GL Stable UpTrend about 6,1% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from 36% to 39%. © MarkeTiming Research (ALL RIGHTS REDERVED) MarkeTiming Selection for the week of 5/10/2020 This Report is a rappresentative study of markets stance and does not constitute an investment advisory service. MARKET SELECTION weekly outlook TREND STABILITY PRIMARY TREND trend evolution VOLATILITY STANCE range evolution VOLATILITY DINAMIC volatility evolution TIMING RESISTENCE SUPPORT POWER Stability Trend Return Risk Dynamic Timing Power LONG TERM MEDIUM TERM SHORT TERM 18/set 25/set 02/ott 18/set 25/set 02/ott 18/set 25/set 02/ott 02/ott 02/ott 02/ott Stocks FTSE_MIB_(ITALY) -6% -5% -4,4% -3,2% -1,6% -1,7% -1,5% * -4,2% 2,0% -7,7% -2,7% -4,7% 2,4% -17,5% 0,1% -38,8% -2,9% CAC_40_(FRANCE) -6% -9% -7% -4,2% -2,9% -2,0% -2,8% -1,1% -5,0% 2,0% -8,6% -2,2% -5,9% 2,4% -10,6% 1,2% -56,1% 5,9% DAX_(GERMANY) 5,1% 0,2% -1,4% -1,2% -0,7% -4,9% 1,8% -7,7% -2,3% -5,2% 2,6% -16,0% 30,8% * -70,4% * 14,9% 0,5% FTSE_100_(UK) -8% 7% -6,7% -3,5% -1,0% 1,8% * -0,4% -2,7% 1,0% 5,9% -2,1% -4,0% 2,4% -8,2% 4,9% -47,9% 10,7% Dow_ Jones_Ind_Av_(USA) 6% -5% 5,4% 2,3% 0,2% -1,6% 0,2% -2,1% 2,0% -7,2% 3,1% -3,5% 2,5% -14,8% -18,1% -34,9% 15,9% * Nasdaq_100_(USA) 17% -10% -7% -42% 17,5% * 5,2% * 1,6% * -3,2% -1,2% 1,7% * 1,0% -10,3% -6,4% * 4,5% * -3,3% -31,4% -32,9% -7,7% -61,4% * Nikkei_225_(JAPAN) 6% -5% -71% 6,6% 2,2% 0,1% -0,8% -0,2% -0,7% -0,8% -3,2% -1,3% -1,5% -2,9% 5,2% * -1,2% 9,1% * -14,3% -1,0% -48,7% Hang_Seng_(HONG KONG) -10% -16% -15% -13% -6,8% -5,2% -2,3% -5,0% -0,2% -5,0% 1,0% -7,4% -2,3% -5,9% 2,2% -27,0% -71,8% * -45,6% -12,0% -9,4% Shanghai_Comp_(CHINA) -13% -18% -17% -7% 5,8% 0,1% -1,1% -4,1% 2,4% -3,6% 0,0% -5,0% 2,7% -4,3% -1,3% -14,6% 26,4% -16,0% -24,5% -5,2% BSE_Sensex_(INDIA) 5,7% 3,2% -0,3% 0,9% 0,0% -3,8% 3,5% * 7,4% * -2,0% -6,6% 3,1% * -27,0% -38,0% -35,5% RTSI_(RUSSIA) -12% -19% -13% -8,1% -6,5% -2,9% -5,9% 0,5% -5,2% -1,4% -10,2% 3,2% -5,4% -4,9% -13,6% -2,7% -24,3% -7,5% Ibovespa_(BRAZIL) -28% -33% -17% -41% -9% -25,3% * -9,3% * -5,6% * -10,4% * 2,5% * -6,5% * -4,6% * -13,8% * 3,7% * -9,3% * -6,7% * -34,6% * 2,0% -48,3% -60,2% -6,1% Currency & Comodity EUR/USD -37% 27% 4,0% 1,0% -0,5% -1,0% 0,1% -1,9% 0,7% -2,4% 1,4% -2,2% 1,3% 9,5% 25,5% -47,8% 22,2% Gold -23% 8,8% 1,1% -1,5% * -1,8% 0,4% -4,7% 2,1% -6,7% 2,2% -5,8% 3,7% -23,8% -45,9% -90,6% 2,8% Crude_Oil_WTI -58% -40% -34% -89% 0,7% -2,2% * 0,6% -6,2% * 9,6% -1,8% -8,0% -13,5% 11,7% -6,4% -10,4% -17,5% 21,4% -77,8% -28,4% -15,9% -55,6% Natural_Gas 100% -42% -19% -5% 33,2% * 26,5% * 13,0% * -4,6% -8,0% 2,2% 16,2% -43,0% -20,5% 24,6% -16,8% -24,3% -60,8% 0,4% -16,0% -4,3% Agricolture -20% -5% 0,3% * -0,4% 0,1% -0,2% * -0,1% 0,8% -0,5% 1,9% -1,7% 1,3% -1,2% -4,1% 30,7% 27,4% -16,3% -4,1% Bond BGOV_ITA_BTP 22% 20% 100% 28% 3% 3,7% * 2,3% 0,8% * 2,1% 0,5% 0,7% 0,6% 2,4% 0,7% 1,1% 0,8% 14,9% 1,9% 31,0% 21,5% 6,8% BGOV_GERM_BUND 4% 4% 14% 2% 0,6% 0,5% 0,3% 0,4% 0,0% 0,4% 0,0% 0,9% -0,3% 0,5% 0,3% 15,6% 5,5% 52,2% 10,9% 5,2% BGOV_UK_GILT -23% 0,6% -0,5% -0,1% 0,3% -0,2% 0,3% -1,0% 1,8% -1,1% -1,1% -1,6% 13,3% 29,2% -4,5% 1,1% -0,1% -53,8% BGOV_USA_Treasury -31% 1,3% -0,1% 0,0% 0,0% -0,2% 0,3% -0,4% -0,6% -0,4% 0,3% -0,6% -21,5% -33,3% -5,3% -68,8% BGOV_Emerg_Mrkt_Loc -34% -8% -6,1% * -3,4% * -0,9% -0,8% 0,8% -1,6% 0,2% -3,5% 1,7% -2,1% 1,5% -8,7% -0,4% -31,3% -0,5% 1,4% BOND_Corp_Europa 3% 36% 1% 1,5% 0,6% 0,0% 0,3% 0,2% -0,3% 0,3% 0,7% 0,4% -0,5% 0,6% 1,1% 14,7% -46,0% 27,6% 3,2% BOND_Corp_Usa -13% -4% 28% -1,9% -1,9% -0,1% -0,4% -0,5% 0,7% -0,3% 1,8% -1,0% 1,4% -1,4% 5,2% 12,3% 29,1% 4,9% 15,4% 51,5% BOND_Corp_Emerg -26% -24% -1% -4,7% -2,2% -1,1% * -2,5% * -2,3% -0,6% 0,5% -3,7% -2,6% -1,2% 0,8% 0,8% -9,8% -0,6% 0,7% -3,3% BOND_High_Yeld_GL 36% 22% 10% -0,1% 4,9% * 0,6% 3,7% * 2,2% -0,9% 1,2% 5,2% 4,0% -2,1% 3,3% -7,5% -6,0% 15,9% 16,7% 25,0% © MarkeTiming Research (ALL RIGHTS REDERVED) MarkeTiming Selection for the week of 5/10/2020 Stocks FTSE_MIB_(ITALY) Stable and aligned DownTrend about -1,6% in weekly mitigation. Take a Short Position with a Tactical Adjustment on portfolio composition from -11% to -5%. CAC_40_(FRANCE) Stable and aligned DownTrend about -2,8% in weekly mitigation. Take a Short Position with a Tactical Adjustment on portfolio composition from -10% to -7%. DAX_(GERMANY) Unstable DownTrend about -1,1% in weekly mitigation. FTSE_100_(UK) Unstable UpTrend about 1,7% in weekly progression. Bullish resistence over 5954. Increasing Volatility stance in a range of 2,4% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from -13% to 0%. Dow_ Jones_Ind_Av_(USA) Unstable DownTrend about -1,6% in weekly mitigation. Take a Long Position with a Tactical Adjustment on portfolio composition from -9% to 0%. Nasdaq_100_(USA) Unstable DownTrend about -3,1% in weekly mitigation. Take a Long Position with a Tactical Adjustment on portfolio composition from -10% to 0%. Nikkei_225_(JAPAN) Unstable DownTrend about -0,7% in weekly progression. Bullish resistence over 23622. Increasing Volatility stance in a range of -2,8% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 7% to 0%. Hang_Seng_(HONG KONG) Stable and aligned DownTrend about -5% in weekly mitigation. Take a Short Position with a Tactical Adjustment on portfolio composition from -14% to -13%. Shanghai_Comp_(CHINA) Unstable DownTrend about -4% in weekly progression. Bearish suppot under 3202. Increasing Volatility stance in a range of -1,3% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from -11% to -15%. BSE_Sensex_(INDIA) Stable and aligned UpTrend about 0,8% in weekly progression. RTSI_(RUSSIA) Stable and aligned DownTrend about -5,8% in weekly progression. Bearish suppot under 1134. Increasing Volatility stance in a range of -4,8% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from -14% to -14%. Ibovespa_(BRAZIL) Stable and aligned DownTrend about -10,4% in weekly progression. Bullish resistence over 15099. Increasing Volatility stance in a range of -6,7% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from -33% to -26%. Currency & Comodity EUR/USD Unstable DownTrend about -1% in weekly mitigation. Take a Short Position with a Tactical Adjustment on portfolio composition from -27% to -36%. Gold Unstable DownTrend about -1,8% in weekly mitigation. Take a Short Position with a Tactical Adjustment on portfolio composition from -22% to -23%. Crude_Oil_WTI Unstable DownTrend about -6,2% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from 40% to -48%. Natural_Gas Unstable DownTrend about -4,5% in weekly mitigation. Take a Long Position with a Tactical Adjustment on portfolio composition from -42% to 28%. Agricolture Unstable DownTrend about -0,2% in weekly progression. Bond BGOV_ITA_BTP Stable and aligned UpTrend about 2,1% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from 17% to 47%. BGOV_GERM_BUND Stable and aligned UpTrend about 0,4% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from 10% to 4%. BGOV_UK_GILT Unstable UpTrend BGOV_USA_Treasury Unstable UpTrend BGOV_Emerg_Mrkt_Loc Stable and aligned DownTrend about -0,8% in weekly mitigation. Take a Short Position with a Tactical Adjustment on portfolio composition from -26% to -20%. BOND_Corp_Europa Stable and aligned UpTrend about 0,3% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from 0% to 3%. BOND_Corp_Usa Stable DownTrend about -0,4% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from 10% to -8%. BOND_Corp_Emerg Stable and aligned DownTrend about -2,4% in weekly mitigation. Take a Short Position with a Tactical Adjustment on portfolio composition from -22% to -25%. BOND_High_Yeld_GL Unstable UpTrend about 3,7% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from 23% to 36%. © MarkeTiming Research (ALL RIGHTS REDERVED) MarkeTiming Selection for the week of 28/9/2020 This Report is a rappresentative study of markets stance and does not constitute an investment advisory service. MARKET SELECTION weekly outlook TREND STABILITY PRIMARY TREND trend evolution VOLATILITY STANCE range evolution VOLATILITY DINAMIC volatility evolution TIMING RESISTENCE SUPPORT POWER Stability Trend Return Risk Dynamic Timing Power LONG TERM MEDIUM TERM SHORT TERM 11/set 18/set 25/set 11/set 18/set 25/set 11/set 18/set 25/set 25/set 25/set 25/set Stocks FTSE_MIB_(ITALY) -12% -11% -11% -11% -5,4% -3,5% -2,8% -5,8% 2,2% -1,5% * -4,2% -8,1% 3,9% -2,7% -4,7% -25,9% -24,9% 0,1% -38,8% -44,5% CAC_40_(FRANCE) -12% -11% -9% -21% -12% -5,2% -3,2% -3,2% -5,5% 1,4% -1,1% -5,0% -9,3% 2,6% -2,2% -5,9% -21,9% -4,7% 1,2% -56,1% -47,3% DAX_(GERMANY) -8% -26% -12% 4,0% -0,2% -2,7% -4,3% 2,8% -0,7% -4,9% -8,5% 3,3% -2,3% -5,2% -32,4% 30,8% * -70,4% * -47,3% FTSE_100_(UK) -14% -18% -12% -7,7% -4,0% -1,2% -2,0% 4,0% * -0,4% -2,7% -5,9% 4,3% * -2,1% -4,0% -20,2% 7,0% 4,9% -47,9% -46,7% Dow_ Jones_Ind_Av_(USA) -10% -9% 3,0% 0,6% -2,8% -5,3% -1,7% 0,2% -2,1% -9,5% -3,9% 3,1% -3,5% -22,3% -12,1% -18,1% -34,9% Nasdaq_100_(USA) -14% -8% 13,9% * 2,2% -3,7% * -7,1% -4,6% * -1,2% 1,7% * -15,3% * -7,8% * -6,4% * 4,5% * -32,4% -45,6% * -32,9% -7,7% Nikkei_225_(JAPAN) 8% 6,3% 2,4% -0,1% * 1,4% * 0,9% -0,2% -0,7% 3,0% * 2,3% -1,3% -1,5% 18,1% * 30,5% * -1,2% 9,1% * -5,2% Hang_Seng_(HONG KONG) -14% -17% -13% -17% -12% -6,3% -4,1% -2,9% -8,6% * -0,8% -0,2% -5,0% -11,0% -2,8% -2,3% -5,9% -47,5% * -23,4% -71,8% * -45,6% -45,9% Shanghai_Comp_(CHINA) -11% -12% -15% 7,6% 2,2% -0,9% -5,4% -2,8% 2,4% -3,6% -7,1% -4,5% 2,7% -4,3% -8,5% -39,9% 26,4% -16,0% -5,3% -55,2% BSE_Sensex_(INDIA) -10% -9% 3,9% 2,7% * -2,1% -5,3% 1,3% 0,0% -3,8% -9,1% 2,7% -2,0% -6,6% -38,8% 1,2% -38,0% -35,5% -16,9% RTSI_(RUSSIA) -14% -16% -13% -12% -6,6% -4,5% -2,2% -8,0% 0,2% 0,5% -5,2% -10,2% -3,8% 3,2% -5,4% -25,8% -9,2% -2,7% -24,3% -48,2% Ibovespa_(BRAZIL) -34% -18% -15% -22,9% * -5,5% * -3,3% -1,3% -2,1% 2,5% * -6,5% * -11,1% -3,5% 3,7% * -9,3% * -6,2% -15,7% 2,0% -48,3% -57,8% Currency & Comodity EUR/USD -27% -22% -55% 4,2% 1,4% -0,8% -2,3% 0,0% 0,1% -1,9% -3,4% 0,9% 1,4% -2,2% -0,3% 36,7% 25,5% -47,8% -18,3% -54,4% Gold -17% -28% -42% -45% 9,3% * 1,6% * -2,3% -5,4% 0,5% 0,4% -4,7% -7,6% 3,2% 2,2% -5,8% -33,0% 14,4% -45,9% -90,6% -60,6% Crude_Oil_WTI 100% -20% -36% 1,1% 0,3% 0,8% * -6,4% -5,4% 9,6% -1,8% -18,4% -8,8% 11,7% -6,4% -27,2% -24,1% 21,4% -77,8% Natural_Gas -63% -22% 4,9% 1,2% -11,2% * -20,3% * -12,6% -8,0% 2,2% -37,0% -13,5% -20,5% 24,6% -16,9% -20,6% -60,8% 0,4% -5,9% Agricolture 23% 0,4% * -0,4% * 0,3% 1,3% * -0,4% -0,1% 0,8% 2,3% 1,1% -1,7% 1,3% 18,5% -100,5% 30,7% 27,4% 7,8% Bond BGOV_ITA_BTP 19% 13% 21% 16% 12% 3,5% * 2,3% 0,9% 1,6% 0,3% 0,5% 0,7% 2,3% 0,7% 0,7% 1,1% -3,4% 1,9% 31,0% 12,3% BGOV_GERM_BUND 3% 8% 21% 28% 0,5% 0,4% 0,3% 1,0% 0,0% 0,0% 0,4% 1,4% 0,6% -0,3% 0,5% 15,6% -6,1% 5,5% 52,2% BGOV_UK_GILT 16% 19% 3% 1,1% -0,2% 0,5% 2,1% 1,2% -0,2% 0,3% 3,2% 1,6% -1,1% -1,1% 16,8% 36,3% 29,2% -4,5% 3,1% BGOV_USA_Treasury 5% 1,6% 0,0% 0,1% 0,5% 0,3% -0,2% 0,3% 0,9% 0,5% -0,4% 0,3% -9,7% -2,3% -33,3% BGOV_Emerg_Mrkt_Loc -26% -16% -49% -5,7% * -3,1% * -0,4% -0,4% -0,2% 0,8% -1,6% -2,9% -1,1% 1,7% -2,1% -7,5% 2,9% -0,4% -31,3% -51,5% BOND_Corp_Europa -24% 29% 1,4% 0,7% 0,0% 0,1% 0,2% 0,2% -0,3% 0,8% 0,4% 0,4% -0,5% -3,4% 1,1% 14,7% -46,0% -0,6% 31,4% BOND_Corp_Usa 11% 15% -1,5% -1,8% 0,2% 1,3% -0,4% -0,5% 0,7% 2,8% 1,8% -1,0% 1,4% 9,9% -12,7% 12,3% 29,1% BOND_Corp_Emerg -25% -22% -19% -4% -5,1% -2,2% -1,7% * -2,8% * -0,1% -2,3% -0,6% -4,1% -1,0% -2,6% -1,2% -6,5% 9,2% -9,8% -0,6% -4,0% BOND_High_Yeld_GL 21% 30% 20% 4% 0,1% 5,6% * 1,8% * 3,8% * 1,3% 2,2% -0,9% 5,5% 2,5% 4,0% -2,1% -25,4% -70,3% -6,0% 15,9% 3,7% © MarkeTiming Research (ALL RIGHTS REDERVED) MarkeTiming Selection for the week of 28/9/2020 Stocks FTSE_MIB_(ITALY) Stable and aligned DownTrend about -5,7% in weekly progression. Bullish resistence over 19439. Increasing Volatility stance in a range of -4,6% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from -3% to -11%. CAC_40_(FRANCE) Stable DownTrend about -5,4% in weekly progression. Bullish resistence over 4949. Increasing Volatility stance in a range of -5,8% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from 6% to -10%. DAX_(GERMANY) Unstable DownTrend about -4,3% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from 23% to -8%. FTSE_100_(UK) Stable and aligned DownTrend about -2% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from 0% to -13%. Dow_ Jones_Ind_Av_(USA) Unstable DownTrend about -5,2% in weekly progression. Bullish resistence over 27484. Increasing Volatility stance in a range of -3,4% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from -2% to -9%. Nasdaq_100_(USA) Unstable DownTrend about -7,1% in weekly mitigation. Take a Short Position with a Tactical Adjustment on portfolio composition from -20% to -10%. Nikkei_225_(JAPAN) Stable and aligned UpTrend Take a Long Position with a Tactical Adjustment on portfolio composition from 20% to 7%. Hang_Seng_(HONG KONG) Stable and aligned DownTrend about -8,6% in weekly progression. Bullish resistence over 24542. Increasing Volatility stance in a range of -5,9% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from -10% to -14%. Shanghai_Comp_(CHINA) Unstable DownTrend about -5,4% in weekly progression. Bullish resistence over 3350. Increasing Volatility stance in a range of -4,3% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from -5% to -11%. BSE_Sensex_(INDIA) Unstable DownTrend about -5,2% in weekly progression. Bullish resistence over 38990. Increasing Volatility stance in a range of -6,5% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from 17% to -9%. RTSI_(RUSSIA) Stable and aligned DownTrend about -7,9% in weekly progression. Bullish resistence over 1225. Increasing Volatility stance in a range of -5,4% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from -9% to -14%. Ibovespa_(BRAZIL) Stable and aligned DownTrend about -1,3% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from 26% to -33%. Currency & Comodity EUR/USD Unstable DownTrend about -2,3% in weekly progression. Bullish resistence over 1. Increasing Volatility stance in a range of -2,2% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from 16% to -27%. Gold Unstable DownTrend about -5,3% in weekly progression. Bullish resistence over 1962. Increasing Volatility stance in a range of -5,7% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from 45% to -22%. Crude_Oil_WTI Unstable DownTrend about -6,3% in weekly progression. Bullish resistence over 41. Increasing Volatility stance in a range of -6,3% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from -17% to 40%. Natural_Gas Unstable DownTrend about -20,2% in weekly mitigation. Take a Short Position with a Tactical Adjustment on portfolio composition from -61% to -42%. Agricolture Unstable UpTrend about 1,3% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from -17% to 22%. Bond BGOV_ITA_BTP Stable and aligned UpTrend about 1,6% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from 19% to 17%. BGOV_GERM_BUND Stable and aligned UpTrend about 1% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from 1% to 10%. BGOV_UK_GILT Unstable UpTrend about 2% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from 3% to 17%. BGOV_USA_Treasury Stable UpTrend about 0,5% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from -3% to 4%. BGOV_Emerg_Mrkt_Loc Stable and aligned DownTrend about -0,4% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from 9% to -26%. BOND_Corp_Europa Stable and aligned UpTrend BOND_Corp_Usa Unstable UpTrend about 1,3% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from -10% to 10%. BOND_Corp_Emerg Stable and aligned DownTrend about -2,7% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from -26% to -22%. BOND_High_Yeld_GL Stable UpTrend Take a Long Position with a Tactical Adjustment on portfolio composition from 76% to 23%. © MarkeTiming Research (ALL RIGHTS REDERVED) MarkeTiming Selection for the week of 21/9/2020 This Report is a rappresentative study of markets stance and does not constitute an investment advisory service. MARKET SELECTION weekly outlook TREND STABILITY PRIMARY TREND trend evolution VOLATILITY STANCE range evolution VOLATILITY DINAMIC volatility evolution TIMING RESISTENCE SUPPORT POWER Stability Trend Return Risk Dynamic Timing Power LONG TERM MEDIUM TERM SHORT TERM 04/set 11/set 18/set 04/set 11/set 18/set 04/set 11/set 18/set 18/set 18/set 18/set Stocks FTSE_MIB_(ITALY) -3% -43% -1,7% 1,4% 0,1% -0,9% -2,3% 2,2% -1,5% * -5,8% -4,4% 3,9% -2,7% -20,7% -32,7% -24,9% 0,1% -35,8% CAC_40_(FRANCE) 7% -47% -0,9% 2,2% 0,6% 1,7% -0,8% 1,4% -1,1% 4,7% -4,7% 2,6% -2,2% -12,6% -25,5% -4,7% 1,2% -39,3% DAX_(GERMANY) 28% 10% 33% 8,6% 5,1% 0,7% 2,6% -1,5% 2,8% -0,7% 5,3% -5,3% 3,3% -2,3% -19,7% -29,9% FTSE_100_(UK) -5,2% -1,1% 1,2% * -0,1% -2,8% 4,0% * -0,4% 6,5% -4,3% 4,3% * -2,1% -10,4% -25,7% 7,0% 4,9% Dow_ Jones_Ind_Av_(USA) -3% -10% 6,3% 4,5% -0,8% -0,7% -1,8% -1,7% 0,2% -6,2% -5,3% -3,9% 3,1% -15,6% -20,5% -12,1% -18,1% Nasdaq_100_(USA) -21% -18% 17,4% * 5,5% -3,2% * -5,2% * -3,1% -4,6% * -1,2% -14,2% * -10,6% * -7,8% * -6,4% * -29,4% * -41,1% -45,6% * -32,9% Nikkei_225_(JAPAN) 23% 8% 31% 10% 6,9% 3,8% 0,7% 1,9% 1,4% 0,9% -0,2% 4,2% 2,3% 2,3% -1,3% -13,3% 30,5% * -1,2% 8,8% Hang_Seng_(HONG KONG) -10% -11% -38% -3,2% -0,7% -1,2% -2,6% -2,9% -0,8% -0,2% -6,5% -5,4% -2,8% -2,3% -23,0% -75,0% -23,4% -71,8% * Shanghai_Comp_(CHINA) -5% 14% 8,2% 3,3% -1,4% -1,3% -1,4% -2,8% 2,4% -6,6% -3,3% -4,5% 2,7% -7,0% -7,9% -39,9% 26,4% * 1,0% BSE_Sensex_(INDIA) 30% 4% -20% 7,4% 7,6% * 0,5% 1,1% -2,8% 1,3% 0,0% 5,3% -4,5% 2,7% -2,0% -22,9% -86,1% * 1,2% -38,0% RTSI_(RUSSIA) -9% -11% -3,5% -0,8% -0,1% -2,6% -3,6% * 0,2% 0,5% -8,4% -5,6% -3,8% 3,2% -26,8% -68,6% -9,2% -2,7% Ibovespa_(BRAZIL) 17% 36% -20,1% * -2,8% * 1,0% 4,3% * 5,1% * -2,1% 2,5% * 8,4% * 8,0% * -3,5% 3,7% * 19,7% * 23,6% * -15,7% 2,0% Currency & Comodity EUR/USD 17% 5,5% 2,9% 0,0% 0,4% -0,5% 0,0% 0,1% 2,3% -1,9% 0,9% 1,4% 14,8% -14,5% 36,7% 25,5% Gold 80% 10% -43% 13,9% 5,7% 0,4% * 0,5% * -1,6% 0,5% 0,4% 4,7% -4,0% 3,2% 2,2% 6,0% -16,4% 14,4% -45,9% Crude_Oil_WTI -20% -17% -15% 54% -1,8% * -0,3% -2,8% -3,2% -8,1% -5,4% 9,6% -18,6% -9,9% -8,8% 11,7% -18,0% -47,5% -24,1% 21,4% 48,2% Natural_Gas -83% -41% -57% 14,0% * 11,1% * -9,0% * -15,1% * -3,0% -12,6% -8,0% -32,3% -9,9% -13,5% -20,5% -17,4% -1,8% -20,6% -60,8% 5,2% Agricolture -18% 46% 0,1% -0,9% * 0,1% -0,4% 1,0% -0,4% -0,1% -2,2% 2,2% 1,1% -1,7% 31,1% 56,7% -100,5% 30,7% 41,8% Bond BGOV_ITA_BTP 38% 2% 1% 2,9% * 1,9% 0,5% 0,3% 0,1% 0,3% 0,5% 1,5% 1,1% 0,7% 0,7% -17,9% -25,8% 1,4% BGOV_GERM_BUND 6% -2% 0,3% 0,2% 0,2% -0,3% 0,6% 0,0% 0,0% -1,1% 1,1% 0,6% -0,3% -14,7% 12,3% -6,1% 5,5% BGOV_UK_GILT 4% 29% -7% 1,0% -0,5% 0,7% 0,5% 0,8% 1,2% -0,2% 3,1% 2,2% 1,6% -1,1% 12,6% 36,3% 29,2% -7,6% BGOV_USA_Treasury -3% -34% 1,7% -0,1% 0,1% -0,4% 0,1% 0,3% -0,2% -1,0% 0,9% 0,5% -0,4% -16,5% 6,4% -2,3% -33,3% BGOV_Emerg_Mrkt_Loc 9% -5,0% * -2,2% 0,8% 1,3% 0,5% -0,2% 0,8% 2,7% 1,7% -1,1% 1,7% 0,2% 5,3% 2,9% -0,4% BOND_Corp_Europa 20% 1% 15% 4% 1,5% 1,1% 0,2% 0,1% 0,1% 0,2% 0,2% 0,8% 0,7% 0,4% 0,4% 0,9% 4,0% 1,1% 14,7% 4,6% BOND_Corp_Usa -10% 12% -1,8% -2,3% * 0,1% -1,5% 1,5% -0,4% -0,5% -2,9% 2,8% 1,8% -1,0% -3,6% 19,0% -12,7% 12,3% BOND_Corp_Emerg -37% -16% -10% -67% -3,8% -0,6% -0,7% * -2,3% * 0,2% -0,1% -2,3% -3,4% 1,6% -1,0% -2,6% -3,7% -21,1% 9,2% -9,8% -1,6% -71,9% BOND_High_Yeld_GL 52% 100% 21% -1,4% 4,6% * 1,8% * 7,5% * 1,3% 1,3% 2,2% 7,5% 2,2% 2,5% 4,0% -20,3% -60,3% -70,3% -6,0% 23,1% © MarkeTiming Research (ALL RIGHTS REDERVED) MarkeTiming Selection for the week of 21/9/2020 Stocks FTSE_MIB_(ITALY) Unstable DownTrend about -0,8% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from -4% to -3%. CAC_40_(FRANCE) Unstable UpTrend Take a Long Position with a Tactical Adjustment on portfolio composition from 5% to 6%. DAX_(GERMANY) Stable and aligned UpTrend Take a Long Position with a Tactical Adjustment on portfolio composition from 17% to 23%. FTSE_100_(UK) Stable and aligned DownTrend about 0% in weekly progression. Dow_ Jones_Ind_Av_(USA) Unstable DownTrend about -0,7% in weekly mitigation. Take a Short Position with a Tactical Adjustment on portfolio composition from -3% to -2%. Nasdaq_100_(USA) Unstable DownTrend about -5,2% in weekly progression. Bearish suppot under 10769. Increasing Volatility stance in a range of -6,4% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from -2% to -20%. Nikkei_225_(JAPAN) Stable and aligned UpTrend Take a Long Position with a Tactical Adjustment on portfolio composition from 17% to 20%. Hang_Seng_(HONG KONG) Stable DownTrend about -2,6% in weekly progression. Bearish suppot under 24250. Increasing Volatility stance in a range of -2,3% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from -14% to -10%. Shanghai_Comp_(CHINA) Unstable DownTrend about -1,2% in weekly mitigation. Take a Short Position with a Tactical Adjustment on portfolio composition from -15% to -5%. BSE_Sensex_(INDIA) Stable UpTrend Take a Long Position with a Tactical Adjustment on portfolio composition from 15% to 17%. RTSI_(RUSSIA) Stable and aligned DownTrend about -2,6% in weekly mitigation. Take a Short Position with a Tactical Adjustment on portfolio composition from -27% to -9%. Ibovespa_(BRAZIL) Unstable UpTrend about 4,3% in weekly progression. Bullish resistence over 16195. Increasing Volatility stance in a range of 3,6% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from -2% to 26%. Currency & Comodity EUR/USD Stable and aligned UpTrend about 0,4% in weekly progression. Bearish suppot under 1. Increasing Volatility stance in a range of 1,3% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 0% to 16%. Gold Stable and aligned UpTrend about 0,5% in weekly progression. Bullish resistence over 1981. Increasing Volatility stance in a range of 2,1% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from -3% to 45%. Crude_Oil_WTI Stable DownTrend about -3,1% in weekly mitigation. Take a Short Position with a Tactical Adjustment on portfolio composition from -80% to -17%. Natural_Gas Unstable DownTrend about -15% in weekly progression. Bullish resistence over 2. Increasing Volatility stance in a range of -20,5% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from -22% to -61%. Agricolture Unstable DownTrend about -0,4% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from 11% to -17%. Bond BGOV_ITA_BTP Stable and aligned UpTrend about 0,2% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from 0% to 19%. BGOV_GERM_BUND Unstable DownTrend about -0,2% in weekly mitigation. Take a Long Position with a Tactical Adjustment on portfolio composition from 4% to 1%. BGOV_UK_GILT Unstable UpTrend Take a Long Position with a Tactical Adjustment on portfolio composition from 12% to 3%. BGOV_USA_Treasury Unstable DownTrend about -0,4% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from 0% to -3%. BGOV_Emerg_Mrkt_Loc Unstable UpTrend about 1,3% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from 0% to 9%. BOND_Corp_Europa Stable and aligned UpTrend about 0,1% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from 35% to 10%. BOND_Corp_Usa Unstable DownTrend about -1,4% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from -59% to -10%. BOND_Corp_Emerg Stable DownTrend about -2,3% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from 6% to -26%. BOND_High_Yeld_GL Unstable UpTrend about 7,4% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from 88% to 76%. © MarkeTiming Research (ALL RIGHTS REDERVED) MarkeTiming Selection for the week of 14/9/2020 This Report is a rappresentative study of markets stance and does not constitute an investment advisory service. MARKET SELECTION weekly outlook TREND STABILITY PRIMARY TREND trend evolution VOLATILITY STANCE range evolution VOLATILITY DINAMIC volatility evolution TIMING RESISTENCE SUPPORT POWER Stability Trend Return Risk Dynamic Timing Power LONG TERM MEDIUM TERM SHORT TERM 28/ago 04/set 11/set 28/ago 04/set 11/set 28/ago 04/set 11/set 11/set 11/set 11/set Stocks FTSE_MIB_(ITALY) -4% -17% -2,7% 1,5% -0,6% -1,0% 0,7% -2,3% 2,2% -5,8% -3,4% -4,4% 3,9% -17,8% -17,3% -32,7% -24,9% 1,6% CAC_40_(FRANCE) 6% -1,7% 2,4% 0,6% 1,4% 2,2% -0,8% 1,4% 5,8% 2,5% -4,7% 2,6% -20,3% 2,4% -25,5% -4,7% 1,2% DAX_(GERMANY) 27% 10% 16% 7,9% 5,5% 0,7% 2,3% 1,9% -1,5% 2,8% 6,3% * 2,2% -5,3% 3,3% -22,5% -29,9% 5,0% FTSE_100_(UK) -19% -4% 26% -7,2% -2,5% -0,5% -1,0% -0,8% -2,8% 4,0% * -6,5% -3,5% -4,3% 4,3% * -16,0% -3,8% -25,7% 7,0% * 6,3% 59,0% Dow_ Jones_Ind_Av_(USA) -4% -24% 6,0% 5,1% -1,0% -1,0% 2,6% -1,8% -1,7% -6,2% 2,4% -5,3% -3,9% -11,2% -4,4% -20,5% -12,1% -22,1% -38,5% Nasdaq_100_(USA) -3% -31% -25% 19,2% * 7,5% * -2,8% -0,7% 3,8% * -3,1% -4,6% * -12,7% * 4,3% * -10,6% * -7,8% * -15,6% -5,9% -41,1% -45,6% * -22,9% -40,1% Nikkei_225_(JAPAN) 18% 6% 5,7% 3,5% 0,1% 0,5% -0,2% 1,4% 0,9% 4,2% -3,6% 2,3% 2,3% -11,3% -85,0% * 14,7% Hang_Seng_(HONG KONG) -13% -11% -18% -16% -3,7% -0,9% -2,1% -2,7% 1,2% -2,9% -0,8% -6,5% 2,2% -5,4% -2,8% -13,2% 27,8% -75,0% -23,4% Shanghai_Comp_(CHINA) -12% -19% -27% -15% 8,4% 3,9% -2,4% -3,0% 0,7% -1,4% -2,8% -7,0% 2,8% -3,3% -4,5% -11,3% -7,0% -7,9% -39,9% -1,1% -37,9% BSE_Sensex_(INDIA) 11% 19% 5,8% 7,3% -0,5% 2,6% * 2,7% -2,8% 1,3% 5,9% 2,6% -4,5% 2,7% -16,2% 4,2% -86,1% * 1,2% RTSI_(RUSSIA) -24% -32% -28% -6,2% -2,7% -3,6% * -7,6% * 0,3% -3,6% * 0,2% -12,0% -2,7% -5,6% -3,8% -37,3% * -68,6% -9,2% -6,7% Ibovespa_(BRAZIL) -3% -10% 4% -20,6% * -4,1% * 2,2% * -0,7% -1,1% * 5,1% * -2,1% -9,5% -4,2% * 8,0% * -3,5% 7,7% * 47,4% * 23,6% * -15,7% 11,4% Currency & Comodity EUR/USD 20% 5,4% 3,2% -0,3% 0,0% 0,9% -0,5% 0,0% 2,2% 1,2% -1,9% 0,9% 12,9% 35,3% -14,5% 36,7% Gold -4% 13,8% 5,6% -0,5% -0,2% 1,3% -1,6% 0,5% -5,9% 3,8% -4,0% 3,2% 28,9% 45,8% -16,4% 14,4% Crude_Oil_WTI -100% -75% -65% -13% -17% -6,7% * -2,4% * -8,3% * -11,6% * 1,5% -8,1% -5,4% -18,2% 3,6% -9,9% -8,8% -27,7% 3,0% -47,5% -24,1% -14,4% Natural_Gas -25% -20% -11% -83% 23,8% * 22,6% * -3,0% -3,8% 8,9% -3,0% -12,6% -19,4% 8,5% -9,9% -13,5% 2,4% -7,0% -1,8% -20,6% -3,2% -65,5% Agricolture 12% -55% 0,2% -1,0% 0,3% * 0,3% * -1,0% 1,0% -0,4% 2,2% -1,5% 2,2% 1,1% 26,3% 71,7% 56,7% -100,5% Bond BGOV_ITA_BTP 2,2% * 1,6% -0,1% * 0,0% -0,6% 0,1% 0,3% -1,3% -0,7% 1,1% 0,7% -28,4% -65,0% -25,8% -2,9% BGOV_GERM_BUND 4% 5% -6% 0,2% 0,1% 0,1% 0,4% -0,9% 0,6% 0,0% 1,2% -1,0% 1,1% 0,6% -11,1% -84,2% 12,3% -6,1% BGOV_UK_GILT 12% 39% 0,9% -0,9% 0,5% 1,0% -1,2% 0,8% 1,2% 3,1% -2,5% 2,2% 1,6% 3,7% -7,6% -4,8% 41,3% BGOV_USA_Treasury 35% 1,8% -0,1% 0,0% 0,3% -0,6% 0,1% 0,3% 1,0% -0,9% 0,9% 0,5% -9,6% -30,0% 6,4% -2,3% -8,2% 40,7% BGOV_Emerg_Mrkt_Loc -6,0% * -3,1% * 0,4% 0,2% 0,1% 0,5% -0,2% 2,2% 1,1% 1,7% -1,1% -1,3% -5,5% 5,3% 2,9% BOND_Corp_Europa 36% 1,4% 1,1% 0,1% 0,3% -0,3% 0,1% 0,2% 0,7% -0,7% 0,7% 0,4% -1,6% -16,1% 4,0% 1,1% 0,5% BOND_Corp_Usa -60% -13% -1,9% -2,5% 0,0% -0,3% * -2,1% 1,5% -0,4% 2,9% -2,5% 2,8% 1,8% 1,9% -32,1% 19,0% -12,7% -1,3% BOND_Corp_Emerg 6% 9% -3,3% 0,5% 0,1% 0,5% -0,1% 0,2% -0,1% 2,0% -0,7% 1,6% -1,0% 2,6% 7,1% -21,1% 9,2% -5,1% BOND_High_Yeld_GL 76% 100% -71% 26% -2,7% 3,5% * 2,2% * 5,9% * 2,6% 1,3% 1,3% 6,3% 2,5% 2,2% 2,5% -8,5% 40,9% -60,3% -70,3% -11,2% 35,0% © MarkeTiming Research (ALL RIGHTS REDERVED) MarkeTiming Selection for the week of 14/9/2020 Stocks FTSE_MIB_(ITALY) Unstable DownTrend about -1% in weekly mitigation. Take a Short Position with a Tactical Adjustment on portfolio composition from -2% to -4%. CAC_40_(FRANCE) Unstable UpTrend about 1,4% in weekly progression. Bullish resistence over 5064. Increasing Volatility stance in a range of 2,5% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 6% to 5%. DAX_(GERMANY) Stable and aligned UpTrend about 2,3% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from 7% to 17%. FTSE_100_(UK) Stable and aligned DownTrend about -0,9% in weekly mitigation. Take a Short Position with a Tactical Adjustment on portfolio composition from -12% to -11%. Dow_ Jones_Ind_Av_(USA) Unstable DownTrend about -0,9% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from 11% to -3%. Nasdaq_100_(USA) Unstable DownTrend about -0,6% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from 24% to -2%. Nikkei_225_(JAPAN) Stable and aligned UpTrend about 0,5% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from 41% to 17%. Hang_Seng_(HONG KONG) Stable DownTrend about -2,6% in weekly progression. Bullish resistence over 24908. Increasing Volatility stance in a range of -2,8% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from 2% to -14%. Shanghai_Comp_(CHINA) Unstable DownTrend about -2,9% in weekly progression. Bullish resistence over 3368. Increasing Volatility stance in a range of -4,4% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from 14% to -15%. BSE_Sensex_(INDIA) Unstable UpTrend about 2,5% in weekly progression. Bullish resistence over 38978. Increasing Volatility stance in a range of 2,6% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 7% to 15%. RTSI_(RUSSIA) Stable DownTrend about -7,6% in weekly mitigation. Take a Short Position with a Tactical Adjustment on portfolio composition from -15% to -27%. Ibovespa_(BRAZIL) Stable and aligned DownTrend about -0,7% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from -7% to -2%. Currency & Comodity EUR/USD Gold Unstable DownTrend about -0,2% in weekly mitigation. Take a Short Position with a Tactical Adjustment on portfolio composition from -11% to -3%. Crude_Oil_WTI Stable DownTrend about -11,5% in weekly progression. Bullish resistence over 39. Increasing Volatility stance in a range of -8,7% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from -24% to -80%. Natural_Gas Unstable DownTrend about -3,8% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from 53% to -22%. Agricolture Unstable UpTrend Take a Long Position with a Tactical Adjustment on portfolio composition from -1% to 11%. Bond BGOV_ITA_BTP Stable and aligned UpTrend about 0% in weekly progression. BGOV_GERM_BUND Stable UpTrend about 0,3% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from 0% to 4%. BGOV_UK_GILT Unstable UpTrend about 0,9% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from -12% to 12%. BGOV_USA_Treasury Unstable UpTrend about 0,2% in weekly progression. BGOV_Emerg_Mrkt_Loc Unstable UpTrend BOND_Corp_Europa Stable and aligned UpTrend about 0,3% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from 33% to 35%. BOND_Corp_Usa Stable DownTrend about -0,2% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from -42% to -59%. BOND_Corp_Emerg Unstable UpTrend Take a Long Position with a Tactical Adjustment on portfolio composition from 0% to 6%. BOND_High_Yeld_GL Unstable UpTrend about 5,8% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from 54% to 88%. © MarkeTiming Research (ALL RIGHTS REDERVED) MarkeTiming Selection for the week of 7/9/2020 This Report is a rappresentative study of markets stance and does not constitute an investment advisory service. MARKET SELECTION weekly outlook TREND STABILITY PRIMARY TREND trend evolution VOLATILITY STANCE range evolution VOLATILITY DINAMIC volatility evolution TIMING RESISTENCE SUPPORT POWER Stability Trend Return Risk Dynamic Timing Power LONG TERM MEDIUM TERM SHORT TERM 21/ago 28/ago 04/set 21/ago 28/ago 04/set 21/ago 28/ago 04/set 04/set 04/set 04/set Stocks FTSE_MIB_(ITALY) -2% -11% -27% -2,9% 2,5% -0,9% -0,6% -1,7% 0,7% -2,3% -6,1% -2,0% -3,4% -4,4% -13,4% 14,9% -17,3% -32,7% -14,3% -47,7% CAC_40_(FRANCE) 6% -9% -2,5% 2,6% 0,3% 1,5% -1,3% 2,2% -0,8% 5,8% -3,3% 2,5% -4,7% -13,5% -26,3% 2,4% -25,5% -13,1% DAX_(GERMANY) 10% 5% 7,5% 6,3% 0,7% 1,3% -0,9% 1,9% -1,5% 6,5% -3,2% 2,2% -5,3% -14,2% -4,2% -16,8% FTSE_100_(UK) -10% -15% -9% -8,5% -3,2% -2,1% -3,9% -1,3% -0,8% -2,8% -8,5% -2,4% -3,5% -4,3% -9,0% -20,2% -3,8% -25,7% -14,5% Dow_ Jones_Ind_Av_(USA) 13% 10% 8,7% 8,7% 1,5% 2,6% 0,0% 2,6% -1,8% 6,0% -1,7% 2,4% -5,3% -12,7% -2,5% -4,4% -20,5% -17,7% Nasdaq_100_(USA) 33% 17% -14% -14% 27,9% * 15,9% * 3,8% * 4,3% * 3,5% * 3,8% * -3,1% 13,6% * 3,0% 4,3% * -10,6% * -14,4% 18,8% -5,9% -41,1% -31,8% Nikkei_225_(JAPAN) 8% 15% 100% 6,1% 4,8% 0,8% 3,9% -1,6% -0,2% 1,4% 5,9% -1,7% -3,6% 2,3% -22,9% -5,9% -85,0% * -7,1% Hang_Seng_(HONG KONG) 3% -26% -32% -1,6% 1,5% -0,3% 0,7% -0,3% 1,2% -2,9% 6,2% -3,8% 2,2% -5,4% -3,5% -13,1% 27,8% -75,0% -8,6% -65,9% Shanghai_Comp_(CHINA) 15% 12,5% 8,2% 0,4% 0,0% 0,6% 0,7% -1,4% 5,7% 3,0% * 2,8% -3,3% -1,0% 29,4% * -7,0% -7,9% -5,6% BSE_Sensex_(INDIA) 12% 3% -30% -27% 6,8% 9,7% 0,8% 0,8% 1,5% 2,7% -2,8% 6,1% 2,7% 2,6% -4,5% -32,7% * 7,4% 4,2% -86,1% * 1,9% -65,0% RTSI_(RUSSIA) -16% -3,5% 1,0% -2,2% * -4,0% * -4,7% * 0,3% -3,6% * -9,4% -6,4% -2,7% -5,6% -28,4% -35,1% -19,8% Ibovespa_(BRAZIL) -8% -22,8% * -7,4% * 0,3% -2,0% -2,4% -1,1% * 5,1% * -9,5% * -9,2% * -4,2% * 8,0% * -0,2% * -52,0% * 47,4% * 23,6% * Currency & Comodity EUR/USD 11% -11% 6,3% 4,3% 0,4% 0,4% -0,4% 0,9% -0,5% 2,3% -1,8% 1,2% -1,9% 30,8% 17,2% 35,3% -14,5% -4,6% Gold 22% -19% -37% -12% -6% 15,4% 7,1% 0,1% -4,5% -0,3% 1,3% -1,6% -7,2% -5,4% 3,8% -4,0% 14,8% 57,4% 45,8% -16,4% -7,4% Crude_Oil_WTI -20% -29% -35% -94% 2,4% 10,6% -0,9% * -4,9% * 0,2% 1,5% -8,1% -10,3% 4,1% 3,6% -9,9% -23,3% -17,6% 3,0% -47,5% -37,6% -78,3% Natural_Gas 65% 61% 34% 30,6% * 31,0% * 4,3% * 14,6% * 4,1% 8,9% -3,0% 26,3% 7,5% 8,5% -9,9% 12,7% 48,2% -7,0% -1,8% -5,9% Agricolture -2% 42% -0,1% * -1,3% * -0,1% 0,1% 0,6% -1,0% 1,0% -2,2% 1,8% -1,5% 2,2% 35,9% 13,9% 71,7% 56,7% 0,2% Bond BGOV_ITA_BTP -4% -19% 2,4% * 2,0% -0,1% -0,5% 0,3% -0,6% 0,1% -1,3% 0,6% -0,7% 1,1% -36,2% -1,9% -65,0% -25,8% -0,9% BGOV_GERM_BUND 9% 33% 0,0% -0,2% -0,1% -0,4% 0,7% -0,9% 0,6% -1,5% 0,7% -1,0% 1,1% -17,8% 22,0% -84,2% 12,3% 9,2% 47,0% BGOV_UK_GILT -12% 4% 0,2% -1,8% -0,3% -1,6% 0,2% -1,2% 0,8% -3,7% 1,2% -2,5% 2,2% -2,6% -3,1% -7,6% 7,4% BGOV_USA_Treasury -8% -47% -22% 2,0% -0,1% -0,1% -1,1% 0,5% -0,6% 0,1% -1,5% 0,4% -0,9% 0,9% -14,9% -2,5% -30,0% 6,4% 14,0% -51,2% BGOV_Emerg_Mrkt_Loc -6,3% * -3,2% * 0,4% 0,2% -0,3% 0,1% 0,5% 2,2% -1,2% 1,1% 1,7% -3,9% -4,7% -5,5% 5,3% 2,3% BOND_Corp_Europa 34% -35% 1,3% 1,2% 0,0% -0,2% 0,4% -0,3% 0,1% -0,7% 0,5% -0,7% 0,7% -8,4% 19,5% -16,1% 4,0% -1,7% -58,3% BOND_Corp_Usa -66% -19% 14% -1,9% -2,6% -0,4% * -2,5% * 0,8% -2,1% 1,5% -4,9% 2,1% -2,5% 2,8% 1,0% 21,9% -32,1% 19,0% -1,4% BOND_Corp_Emerg -15% -6% -3,5% 0,8% 0,3% -0,2% 0,5% -0,1% 0,2% -2,0% 1,2% -0,7% 1,6% -0,6% 59,1% 7,1% -21,1% -9,5% BOND_High_Yeld_GL 56% 53% -43% -3,6% 2,8% * 3,1% * 7,4% * 0,7% 2,6% 1,3% 8,7% 1,6% 2,5% 2,2% 24,5% 55,6% 40,9% -60,3% -6,3% © MarkeTiming Research (ALL RIGHTS REDERVED) MarkeTiming Selection for the week of 7/9/2020 Stocks FTSE_MIB_(ITALY) Unstable DownTrend about -0,6% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from 0% to -2%. CAC_40_(FRANCE) Unstable UpTrend Take a Long Position with a Tactical Adjustment on portfolio composition from 8% to 6%. DAX_(GERMANY) Stable and aligned UpTrend Take a Long Position with a Tactical Adjustment on portfolio composition from 10% to 7%. FTSE_100_(UK) Stable and aligned DownTrend about -3,8% in weekly progression. Bullish resistence over 6033. Increasing Volatility stance in a range of -4,2% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from -5% to -12%. Dow_ Jones_Ind_Av_(USA) Stable and aligned UpTrend Take a Long Position with a Tactical Adjustment on portfolio composition from 43% to 11%. Nasdaq_100_(USA) Stable and aligned UpTrend Take a Long Position with a Tactical Adjustment on portfolio composition from 24% to 24%. Nikkei_225_(JAPAN) Stable and aligned UpTrend about 3,9% in weekly progression. Bullish resistence over 23580. Increasing Volatility stance in a range of 2,2% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 9% to 41%. Hang_Seng_(HONG KONG) Unstable UpTrend Take a Long Position with a Tactical Adjustment on portfolio composition from 0% to 2%. Shanghai_Comp_(CHINA) Stable and aligned UpTrend Take a Long Position with a Tactical Adjustment on portfolio composition from 0% to 14%. BSE_Sensex_(INDIA) Stable UpTrend Take a Long Position with a Tactical Adjustment on portfolio composition from 10% to 7%. RTSI_(RUSSIA) Unstable DownTrend about -4% in weekly progression. Bullish resistence over 1286. Increasing Volatility stance in a range of -5,6% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from 0% to -15%. Ibovespa_(BRAZIL) Stable and aligned DownTrend about -1,9% in weekly mitigation. Take a Short Position with a Tactical Adjustment on portfolio composition from -22% to -7%. Currency & Comodity EUR/USD Stable and aligned UpTrend Take a Long Position with a Tactical Adjustment on portfolio composition from 0% to 10%. Gold Unstable DownTrend about -4,4% in weekly progression. Bullish resistence over 2000. Increasing Volatility stance in a range of -3,9% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from 0% to -11%. Crude_Oil_WTI Unstable DownTrend about -4,8% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from 16% to -24%. Natural_Gas Stable UpTrend Take a Long Position with a Tactical Adjustment on portfolio composition from 88% to 53%. Agricolture Unstable UpTrend about 0,1% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from 0% to -1%. Bond BGOV_ITA_BTP Unstable DownTrend about -0,5% in weekly mitigation. Take a Short Position with a Tactical Adjustment on portfolio composition from 0% to -4%. BGOV_GERM_BUND Unstable DownTrend about -0,3% in weekly mitigation. BGOV_UK_GILT Unstable DownTrend about -1,6% in weekly mitigation. Take a Short Position with a Tactical Adjustment on portfolio composition from -20% to -12%. BGOV_USA_Treasury Unstable DownTrend about -1% in weekly mitigation. Take a Short Position with a Tactical Adjustment on portfolio composition from -17% to -27%. BGOV_Emerg_Mrkt_Loc Unstable UpTrend about 0,2% in weekly progression. BOND_Corp_Europa Unstable DownTrend about -0,1% in weekly mitigation. Take a Long Position with a Tactical Adjustment on portfolio composition from 0% to 33%. BOND_Corp_Usa Stable DownTrend about -2,4% in weekly mitigation. Take a Short Position with a Tactical Adjustment on portfolio composition from -23% to -42%. BOND_Corp_Emerg Unstable DownTrend about -0,1% in weekly mitigation. BOND_High_Yeld_GL Unstable UpTrend about 7,3% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from 24% to 54%. © MarkeTiming Research (ALL RIGHTS REDERVED) MarkeTiming Selection for the week of 31/8/2020 This Report is a rappresentative study of markets stance and does not constitute an investment advisory service. MARKET SELECTION weekly outlook TREND STABILITY PRIMARY TREND trend evolution VOLATILITY STANCE range evolution VOLATILITY DINAMIC volatility evolution TIMING RESISTENCE SUPPORT POWER Stability Trend Return Risk Dynamic Timing Power LONG TERM MEDIUM TERM SHORT TERM 14/ago 21/ago 28/ago 14/ago 21/ago 28/ago 14/ago 21/ago 28/ago 28/ago 28/ago 28/ago Stocks FTSE_MIB_(ITALY) -10% -1,9% 4,6% 0,7% 3,9% 2,6% -1,7% 0,7% 7,6% 5,0% * -2,0% -3,4% 2,0% 18,3% 14,9% -17,3% CAC_40_(FRANCE) 9% -2,7% 3,4% 1,0% 4,6% 1,5% -1,3% 2,2% 6,7% 4,3% -3,3% 2,5% 2,4% 10,0% -26,3% 2,4% 1,0% DAX_(GERMANY) 10% 11% 6% 7,6% 7,5% 1,6% 5,8% 1,8% -0,9% 1,9% 6,6% 3,8% -3,2% 2,2% 12,3% * 15,0% -4,2% 4,2% FTSE_100_(UK) -5% -2% -7,0% -1,2% -0,6% 1,1% 1,0% -1,3% -0,8% 7,2% 4,3% -2,4% -3,5% 1,1% 6,8% -20,2% -3,8% -1,7% Dow_ Jones_Ind_Av_(USA) 12% 18% 100% 8,0% 8,9% 2,1% 9,0% 1,8% 0,0% 2,6% 7,9% 2,4% -1,7% 2,4% -7,0% -22,3% -2,5% -4,4% 0,2% Nasdaq_100_(USA) 29% 21% 26,8% * 15,7% * 4,0% * 10,5% * 0,2% 3,5% * 3,8% * 10,4% * 3,7% 3,0% 4,3% * -3,8% -20,4% 18,8% -5,9% 0,8% Nikkei_225_(JAPAN) 8% 11% -48% -13% 5,7% 5,3% 1,3% 5,4% 4,3% * -1,6% -0,2% 6,6% 4,9% -1,7% -3,6% -20,3% * 5,2% -5,9% -85,0% * -9,3% Hang_Seng_(HONG KONG) 16% -0,4% 3,1% 1,4% 3,4% 2,7% -0,3% 1,2% 6,3% 4,9% -3,8% 2,2% -4,9% 24,5% * -13,1% 27,8% Shanghai_Comp_(CHINA) 71% 12,1% 8,4% -0,2% 2,8% 0,2% 0,6% 0,7% 5,7% 4,3% 3,0% * 2,8% -1,1% -2,7% 29,4% * -7,0% 8,7% 40,4% BSE_Sensex_(INDIA) 12% 10% 8% 7,0% 11,1% 1,8% 4,9% -0,4% 1,5% 2,7% 6,9% -2,3% 2,7% 2,6% -10,6% -113,2% * 7,4% 4,2% 5,2% RTSI_(RUSSIA) -2,3% 3,2% -1,1% 2,5% 4,1% -4,7% * 0,3% 7,8% 4,6% -6,4% -2,7% -7,4% 21,8% -35,1% 0,1% Ibovespa_(BRAZIL) -24% -21% 27% -25,1% * -10,8% * -2,9% * -10,9% * -3,3% * -2,4% -1,1% * -12,6% * -5,9% * -9,2% * -4,2% * -15,3% -29,1% -52,0% * 47,4% * Currency & Comodity EUR/USD 23% 68% 5,9% 4,3% 0,0% 1,0% 0,5% -0,4% 0,9% 2,1% 1,0% -1,8% 1,2% 37,9% 257,9% 17,2% 35,3% 10,2% 48,2% Gold 30% -9% 15,2% 7,0% -1,7% * 0,3% * -3,8% -0,3% 1,3% -8,5% -6,6% -5,4% 3,8% 18,1% -112,7% 57,4% 45,8% -8,0% Crude_Oil_WTI 21% 12% 3,7% 17,6% 1,4% 6,5% 1,8% 0,2% 1,5% 9,8% 4,0% 4,1% 3,6% 1,6% 2,3% -17,6% 3,0% -0,2% Natural_Gas 79% 88% 100% 5% 35,0% * 37,9% * 12,0% * 47,4% * 4,1% 4,1% 8,9% 37,1% 13,0% 7,5% 8,5% 33,0% 35,6% 48,2% -7,0% 4,2% Agricolture 47% -17% 0,0% * -1,3% * -0,1% 0,5% -0,6% 0,6% -1,0% -2,0% -0,9% 1,8% -1,5% 15,8% -33,7% 13,9% 71,7% -14,7% Bond BGOV_ITA_BTP -26% -31% 2,4% * 2,2% * -0,2% 0,0% -0,3% 0,3% -0,6% -1,1% -0,9% 0,6% -0,7% -26,8% -51,8% -1,9% -65,0% -4,9% -61,2% BGOV_GERM_BUND -8% -22% -33% -26% 0,0% -0,2% -0,4% -1,2% -0,8% 0,7% -0,9% -1,5% -1,1% 0,7% -1,0% -15,2% -36,2% 22,0% -84,2% -55,5% BGOV_UK_GILT -22% -19% 0,2% -2,1% -1,1% * -3,1% * -1,4% 0,2% -1,2% -4,6% -1,9% 1,2% -2,5% -5,1% 19,0% -3,1% -7,6% 3,2% BGOV_USA_Treasury -11% -25% -12% -20% 2,2% -0,2% -0,3% -1,5% -1,0% 0,5% -0,6% -1,7% -1,2% 0,4% -0,9% -19,4% -22,4% -2,5% -30,0% -41,7% BGOV_Emerg_Mrkt_Loc -66% -8% -7,3% * -3,9% * -0,3% -1,2% -0,1% -0,3% 0,1% -2,7% -1,1% -1,2% 1,1% -8,1% -8,9% -4,7% -5,5% 0,5% BOND_Corp_Europa 1,2% 1,3% -0,1% 0,1% -0,3% 0,4% -0,3% 0,8% -0,6% 0,5% -0,7% -4,2% -29,4% 19,5% -16,1% BOND_Corp_Usa -34% -21% -17% -13% -23% -1,9% -2,8% -1,0% -2,9% -2,6% 0,8% -2,1% -4,9% -3,0% 2,1% -2,5% -2,0% -24,4% 21,9% -32,1% -9,0% -38,8% BOND_Corp_Emerg -3,9% 1,0% 0,3% 0,6% -0,8% 0,5% -0,1% 2,0% -1,7% 1,2% -0,7% 6,3% -4,5% 59,1% 7,1% BOND_High_Yeld_GL 30% 18% 16% -5,8% 0,8% 2,4% * 4,3% * 2,7% 0,7% 2,6% 6,9% 3,3% 1,6% 2,5% 48,8% 61,9% 55,6% 40,9% © MarkeTiming Research (ALL RIGHTS REDERVED) MarkeTiming Selection for the week of 31/8/2020 Stocks FTSE_MIB_(ITALY) Unstable UpTrend about 3,9% in weekly progression. Bearish suppot under 19686. Increasing Volatility stance in a range of -3,3% (risk weight). CAC_40_(FRANCE) Unstable UpTrend about 4,5% in weekly progression. Bullish resistence over 5073. Increasing Volatility stance in a range of 2,4% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from -3% to 8%. DAX_(GERMANY) Stable and aligned UpTrend about 5,8% in weekly progression. Bullish resistence over 13218. Increasing Volatility stance in a range of 2,2% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 8% to 10%. FTSE_100_(UK) Unstable UpTrend Take a Short Position with a Tactical Adjustment on portfolio composition from -4% to -5%. Dow_ Jones_Ind_Av_(USA) Stable UpTrend about 9% in weekly progression. Bullish resistence over 28733. Increasing Volatility stance in a range of 2,4% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 12% to 43%. Nasdaq_100_(USA) Stable and aligned UpTrend about 10,5% in weekly progression. Bullish resistence over 12047. Increasing Volatility stance in a range of 4,3% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 50% to 24%. Nikkei_225_(JAPAN) Stable and aligned UpTrend Take a Long Position with a Tactical Adjustment on portfolio composition from 7% to 9%. Hang_Seng_(HONG KONG) Unstable UpTrend about 3,3% in weekly progression. Bullish resistence over 25749. Increasing Volatility stance in a range of 2,2% (risk weight). Shanghai_Comp_(CHINA) Stable and aligned UpTrend about 2,8% in weekly progression. Bearish suppot under 3312. Increasing Volatility stance in a range of 2,8% (risk weight). BSE_Sensex_(INDIA) Stable UpTrend about 4,9% in weekly progression. Bullish resistence over 39579. Increasing Volatility stance in a range of 2,6% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 9% to 10%. RTSI_(RUSSIA) Unstable UpTrend about 2,5% in weekly progression. Bearish suppot under 1254. Increasing Volatility stance in a range of -2,6% (risk weight). Ibovespa_(BRAZIL) Stable and aligned DownTrend about -10,9% in weekly progression. Bearish suppot under 15110. Increasing Volatility stance in a range of -4,1% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from -23% to -22%. Currency & Comodity EUR/USD Stable and aligned UpTrend about 0,9% in weekly progression. Bullish resistence over 1. Increasing Volatility stance in a range of 1,2% (risk weight). Gold Stable and aligned UpTrend about 0,2% in weekly progression. Crude_Oil_WTI Stable UpTrend about 6,4% in weekly progression. Bearish suppot under 42. Increasing Volatility stance in a range of 3,5% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 15% to 16%. Natural_Gas Stable UpTrend about 47,3% in weekly progression. Bearish suppot under 2. Reducing Volatility stance in a range of 8,4% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 82% to 88%. Agricolture Unstable UpTrend Bond BGOV_ITA_BTP Stable and aligned UpTrend BGOV_GERM_BUND Unstable DownTrend about -1,1% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from 0% to -15%. BGOV_UK_GILT Unstable DownTrend about -3% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from -16% to -20%. BGOV_USA_Treasury Unstable DownTrend about -1,4% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from -7% to -17%. BGOV_Emerg_Mrkt_Loc Stable and aligned DownTrend about -1,1% in weekly mitigation. Take a Short Position with a Tactical Adjustment on portfolio composition from -41% to -37%. BOND_Corp_Europa Unstable UpTrend BOND_Corp_Usa Stable DownTrend about -2,9% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from -26% to -23%. BOND_Corp_Emerg Unstable UpTrend BOND_High_Yeld_GL Unstable UpTrend about 4,2% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from 0% to 24%. © MarkeTiming Research (ALL RIGHTS REDERVED) MarkeTiming Selection for the week of 24/8/2020 This Report is a rappresentative study of markets stance and does not constitute an investment advisory service. MARKET SELECTION weekly outlook TREND STABILITY PRIMARY TREND trend evolution VOLATILITY STANCE range evolution VOLATILITY DINAMIC volatility evolution TIMING RESISTENCE SUPPORT POWER Stability Trend Return Risk Dynamic Timing Power LONG TERM MEDIUM TERM SHORT TERM 07/ago 14/ago 21/ago 07/ago 14/ago 21/ago 07/ago 14/ago 21/ago 21/ago 21/ago 21/ago Stocks FTSE_MIB_(ITALY) -5% -2,9% 4,9% 0,5% -1,9% 2,2% 2,6% -1,7% -7,6% 4,8% 5,0% * -2,0% -0,7% 7,2% 18,3% 14,9% CAC_40_(FRANCE) -3% -14% -4,6% 2,6% 0,1% -1,2% 2,2% 1,5% -1,3% -6,7% 3,9% 4,3% -3,3% -20,6% 37,1% * 10,0% -26,3% -3,8% DAX_(GERMANY) 8% 5,9% 7,1% 0,9% -0,4% 2,9% 1,8% -0,9% -6,1% 3,4% 3,8% -3,2% -0,6% 21,4% 15,0% -4,2% FTSE_100_(UK) -4% -5% -11% -6,8% -0,3% 0,0% -1,8% 2,3% 1,0% -1,3% -7,2% 4,2% 4,3% -2,4% -20,0% 24,7% 6,8% -20,2% 4,2% Dow_ Jones_Ind_Av_(USA) 9% 15% 5,9% 7,8% 1,8% 5,5% 4,4% * 1,8% 0,0% 7,9% 3,4% 2,4% -1,7% -16,9% 0,1% -22,3% -2,5% 4,0% Nasdaq_100_(USA) 23% 28% 100% 10% 23,2% * 13,3% * 2,7% * 10,2% * 2,6% 0,2% 3,5% * 9,4% * 2,5% 3,7% 3,0% -1,9% -9,7% -20,4% 18,8% 1,8% Nikkei_225_(JAPAN) 7% 5,2% 5,8% 1,6% 0,7% 2,9% 4,3% * -1,6% 7,1% 3,0% 4,9% -1,7% -4,1% 0,5% 5,2% -5,9% Hang_Seng_(HONG KONG) 5% -1,5% 2,4% 1,1% 1,7% -0,3% 2,7% -0,3% 5,7% -4,1% 4,9% -3,8% -14,4% -24,6% 24,5% * -13,1% Shanghai_Comp_(CHINA) 16% 16% 16% 13,9% 10,8% 1,8% 5,8% 1,3% 0,2% 0,6% 8,4% 2,5% 4,3% 3,0% * 6,0% * -3,6% -2,7% 29,4% * 0,5% BSE_Sensex_(INDIA) 10% 5,0% 10,5% 0,7% 0,8% 1,2% -0,4% 1,5% 4,9% 3,5% -2,3% 2,7% -19,8% 2,2% -113,2% * 7,4% -1,1% RTSI_(RUSSIA) -19% -52% -0,3% 6,7% 1,6% 0,5% 3,0% 4,1% -4,7% * 8,5% 5,1% * 4,6% -6,4% -20,6% 17,4% 21,8% -35,1% -7,0% -59,9% Ibovespa_(BRAZIL) -23% -24% -29% -48% -24,2% * -10,5% * -3,6% * -8,6% * -4,5% * -3,3% * -2,4% -13,2% * -7,2% * -5,9% * -9,2% * -25,0% * -25,6% * -29,1% -52,0% * -8,7% -53,4% Currency & Comodity EUR/USD 12% -47% 6,5% 5,2% 0,5% 1,2% 0,0% 0,5% -0,4% 2,7% 1,7% 1,0% -1,8% 28,7% -6,1% 257,9% 17,2% -39,6% Gold 6% 54% -6% 17,7% 9,2% -0,4% * 2,5% 3,2% -3,8% -0,3% 9,0% 5,1% -6,6% -5,4% 20,6% 7,5% -112,7% 57,4% -5,2% Crude_Oil_WTI 25% 6% 2,0% 21,5% 1,8% 2,3% 2,9% 1,8% 0,2% 11,2% 9,3% 4,0% 4,1% -8,5% 19,3% 2,3% -17,6% Natural_Gas 61% 88% 100% 46% 22,7% * 28,1% * 10,9% * 35,7% * 24,8% 4,1% 4,1% 31,7% 19,2% 13,0% 7,5% 34,0% 117,8% 35,6% 48,2% Agricolture -2% 47% -0,3% * -1,7% * -0,3% 0,3% * 1,4% -0,6% 0,6% 2,3% 1,4% -0,9% 1,8% -2,9% -3,6% -33,7% 13,9% 40,4% Bond BGOV_ITA_BTP 22% 6% 9% 2,9% * 3,1% * 0,3% 0,5% 0,7% -0,3% 0,3% 1,1% 0,9% -0,9% 0,6% -25,7% 2,6% -51,8% -1,9% 9,0% BGOV_GERM_BUND 12% 47% 0,4% 0,1% -0,2% 0,3% -0,2% -0,8% 0,7% 1,3% -0,5% -1,1% 0,7% 6,7% 11,2% -36,2% 22,0% 49,7% BGOV_UK_GILT -17% 1,1% -1,5% -1,0% -1,3% -0,7% -1,4% 0,2% -3,1% -1,3% -1,9% 1,2% -6,5% -15,0% 19,0% -3,1% 4,5% BGOV_USA_Treasury -7% 2,5% -0,1% -0,4% -0,6% -0,3% -1,0% 0,5% -1,5% 0,5% -1,2% 0,4% -11,8% -17,3% -22,4% -2,5% BGOV_Emerg_Mrkt_Loc -45% -32% -47% -7,8% -4,2% * -1,0% -2,5% * -0,9% -0,1% -0,3% -3,8% -1,6% -1,1% -1,2% -8,6% -27,5% -8,9% -4,7% 1,7% BOND_Corp_Europa 10% 8% 53% 11% 44% 1,3% 1,6% 0,1% 0,6% * 0,4% -0,3% 0,4% 0,8% 0,7% -0,6% 0,5% 1,4% 11,5% -29,4% 19,5% 46,4% BOND_Corp_Usa -23% -30% 12% -1,9% -3,0% -1,6% * -2,4% 1,1% -2,6% 0,8% -4,3% 1,7% -3,0% 2,1% -1,1% 8,9% -24,4% 21,9% BOND_Corp_Emerg 33% -5,1% 0,4% -0,3% 0,0% 1,0% -0,8% 0,5% 2,0% 1,0% -1,7% 1,2% -12,8% -11,1% -4,5% 59,1% BOND_High_Yeld_GL 31% -7,9% * -1,3% 1,3% * 0,3% -1,7% 2,7% 0,7% 4,6% -3,3% 3,3% 1,6% 41,4% 40,7% 61,9% 55,6% © MarkeTiming Research (ALL RIGHTS REDERVED) MarkeTiming Selection for the week of 24/8/2020 Stocks FTSE_MIB_(ITALY) Unstable DownTrend about -1,8% in weekly progression. Bullish resistence over 20123. Increasing Volatility stance in a range of -2% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from -4% to -5%. CAC_40_(FRANCE) Unstable DownTrend about -1,2% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from -5% to -3%. DAX_(GERMANY) Unstable DownTrend about -0,4% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from 9% to 8%. FTSE_100_(UK) Stable and aligned DownTrend about -1,8% in weekly progression. Bullish resistence over 6140. Increasing Volatility stance in a range of -2,4% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from -8% to -4%. Dow_ Jones_Ind_Av_(USA) Stable UpTrend Take a Long Position with a Tactical Adjustment on portfolio composition from 11% to 12%. Nasdaq_100_(USA) Stable and aligned UpTrend about 10,2% in weekly progression. Bullish resistence over 11574. Increasing Volatility stance in a range of 3% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 17% to 50%. Nikkei_225_(JAPAN) Stable UpTrend Take a Long Position with a Tactical Adjustment on portfolio composition from 6% to 7%. Hang_Seng_(HONG KONG) Unstable UpTrend Take a Long Position with a Tactical Adjustment on portfolio composition from 0% to 4%. Shanghai_Comp_(CHINA) Stable and aligned UpTrend about 5,7% in weekly progression. Bearish suppot under 3352. Increasing Volatility stance in a range of 3% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 13% to 15%. BSE_Sensex_(INDIA) Stable UpTrend about 0,8% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from 8% to 9%. RTSI_(RUSSIA) Unstable UpTrend Ibovespa_(BRAZIL) Stable and aligned DownTrend about -8,6% in weekly progression. Bullish resistence over 16628. Increasing Volatility stance in a range of -9,1% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from -16% to -23%. Currency & Comodity EUR/USD Stable and aligned UpTrend Take a Long Position with a Tactical Adjustment on portfolio composition from 13% to 11%. Gold Stable and aligned UpTrend Take a Long Position with a Tactical Adjustment on portfolio composition from 25% to 6%. Crude_Oil_WTI Stable UpTrend about 2,3% in weekly progression. Bearish suppot under 41. Increasing Volatility stance in a range of 4% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 0% to 15%. Natural_Gas Stable UpTrend about 35,7% in weekly progression. Bearish suppot under 2. Reducing Volatility stance in a range of 7,5% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 78% to 82%. Agricolture Unstable UpTrend about 0,2% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from 0% to -2%. Bond BGOV_ITA_BTP Stable UpTrend about 0,5% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from 26% to 14%. BGOV_GERM_BUND Stable and aligned UpTrend about 0,3% in weekly progression. BGOV_UK_GILT Unstable DownTrend about -1,3% in weekly mitigation. Take a Short Position with a Tactical Adjustment on portfolio composition from -12% to -16%. BGOV_USA_Treasury Unstable DownTrend about -0,5% in weekly mitigation. Take a Short Position with a Tactical Adjustment on portfolio composition from 0% to -7%. BGOV_Emerg_Mrkt_Loc Stable and aligned DownTrend about -2,5% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from -27% to -41%. BOND_Corp_Europa Stable UpTrend about 0,6% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from 9% to 23%. BOND_Corp_Usa Stable DownTrend about -2,3% in weekly mitigation. Take a Short Position with a Tactical Adjustment on portfolio composition from -30% to -26%. BOND_Corp_Emerg Unstable DownTrend about 0% in weekly mitigation. BOND_High_Yeld_GL Unstable UpTrend about 0,3% in weekly progression. © MarkeTiming Research (ALL RIGHTS REDERVED) MarkeTiming Selection for the week of 17/8/2020 This Report is a rappresentative study of markets stance and does not constitute an investment advisory service. MARKET SELECTION weekly outlook TREND STABILITY PRIMARY TREND trend evolution VOLATILITY STANCE range evolution VOLATILITY DINAMIC volatility evolution TIMING RESISTENCE SUPPORT POWER Stability Trend Return Risk Dynamic Timing Power LONG TERM MEDIUM TERM SHORT TERM 31/lug 07/ago 14/ago 31/lug 07/ago 14/ago 31/lug 07/ago 14/ago 14/ago 14/ago 14/ago Stocks FTSE_MIB_(ITALY) -5% 7% -2,3% 6,9% 0,8% -1,9% -4,9% * 2,2% 2,6% -10,8% -5,4% * 4,8% 5,0% * -0,9% -37,6% 7,2% 18,3% 2,7% CAC_40_(FRANCE) -5% -3,8% 4,4% 0,8% -2,1% -3,5% 2,2% 1,5% -8,2% -3,9% 3,9% 4,3% -11,2% -89,5% 37,1% * 10,0% -2,8% DAX_(GERMANY) 10% 6,0% 8,5% 0,7% -0,1% -4,1% 2,9% 1,8% 7,7% -4,6% 3,4% 3,8% 7,7% -90,6% 21,4% 15,0% FTSE_100_(UK) -8% -30% -6,3% 1,1% 0,4% -3,2% -3,7% 2,3% 1,0% -7,4% -3,7% 4,2% 4,3% -18,8% -109,5% * 24,7% 6,8% -19,1% -45,2% Dow_ Jones_Ind_Av_(USA) 12% 12% -9% 6,1% 9,0% 3,0% * 4,7% -0,7% 4,4% * 1,8% 8,0% -2,4% 3,4% 2,4% -32,3% * -48,7% 0,1% -22,3% -3,7% Nasdaq_100_(USA) 23% 12% -8% 21,2% * 12,2% * 1,6% 4,9% 3,5% 2,6% 0,2% 8,8% 3,4% 2,5% 3,7% -7,9% 2,7% -9,7% -20,4% 0,4% Nikkei_225_(JAPAN) 7% 7% 24% 4,2% 5,9% 1,1% 2,6% -4,6% 2,9% 4,3% * 7,2% -5,0% 3,0% 4,9% -4,5% -8,2% 0,5% 5,2% 52,5% Hang_Seng_(HONG KONG) 10% 26% -2,8% 1,4% 0,0% 0,4% -0,4% -0,3% 2,7% 6,4% -1,8% -4,1% 4,9% -16,8% -14,7% -24,6% 24,5% * 6,8% 50,0% Shanghai_Comp_(CHINA) 15% 12% 12,1% 9,8% 0,6% 4,5% 3,5% * 1,3% 0,2% 7,0% 4,8% * 2,5% 4,3% -2,6% 22,0% * -3,6% -2,7% -7,1% BSE_Sensex_(INDIA) 11% 6% -45% 4,7% 11,7% 0,9% 2,3% -1,4% 1,2% -0,4% 4,5% -3,1% 3,5% -2,3% -17,6% -14,3% 2,2% -113,2% * -6,6% RTSI_(RUSSIA) 22% 100% 9% 20% -0,9% 7,4% 2,1% 8,8% * -1,7% 3,0% 4,1% 9,6% * -4,0% 5,1% * 4,6% 2,3% -60,2% 17,4% 21,8% -0,2% 42,3% Ibovespa_(BRAZIL) -22% -11% -12% -22,3% * -9,0% * -2,7% * -4,3% * 1,5% -4,5% * -3,3% * -12,3% * 4,2% -7,2% * -5,9% * 11,3% * 8,6% -25,6% * -29,1% Currency & Comodity EUR/USD 14% 59% 5,9% 4,9% 0,4% 3,6% 1,1% 0,0% 0,5% 4,4% 2,2% 1,7% 1,0% 31,2% 9,0% -6,1% 257,9% Gold 34% 17% -26% -100% 18,0% * 9,4% 0,5% 7,8% 3,5% 3,2% -3,8% 13,8% 4,1% 5,1% -6,6% 13,8% 58,2% 7,5% -112,7% -24,5% Crude_Oil_WTI -0,1% * 24,4% * 1,4% 4,0% -2,4% 2,9% 1,8% 11,3% -7,6% 9,3% 4,0% 0,4% -47,3% 19,3% 2,3% Natural_Gas 53% 83% 100% 8% 12,2% 20,3% 10,7% * 37,2% * 0,3% 24,8% 4,1% 38,1% -8,9% 19,2% 13,0% 24,9% -4,4% 117,8% 35,6% Agricolture -8% 0,6% -0,8% * 0,2% * -1,1% * -1,2% 1,4% -0,6% -3,3% -1,5% 1,4% -0,9% -6,1% -3,3% -3,6% -33,7% Bond BGOV_ITA_BTP 16% 14% 51% -23% 2,8% 3,2% * 0,3% * 1,5% * -0,1% 0,7% -0,3% 1,7% -0,5% 0,9% -0,9% -17,6% -41,1% 2,6% -51,8% 4,6% BGOV_GERM_BUND -16% -19% 0,4% 0,1% -0,3% -0,3% 0,6% -0,2% -0,8% 1,3% 0,9% -0,5% -1,1% 9,7% 25,5% 11,2% -36,2% -1,1% -62,6% BGOV_UK_GILT -12% 1,7% -1,2% -1,0% -1,3% 0,6% -0,7% -1,4% -2,8% 1,1% -1,3% -1,9% 7,5% -16,0% -15,0% 19,0% 3,8% BGOV_USA_Treasury -10% -25% 2,9% * 0,1% -0,4% -0,6% 0,3% -0,3% -1,0% -1,5% 0,5% 0,5% -1,2% -10,0% -4,4% -17,3% -22,4% -6,0% -75,6% BGOV_Emerg_Mrkt_Loc -31% -24% -7,6% -3,7% -1,2% * -2,6% -1,3% -0,9% -0,1% -4,1% -2,0% -1,6% -1,1% -9,2% -7,4% -27,5% -8,9% -0,1% BOND_Corp_Europa 9% -13% 1,4% 1,9% 0,3% 0,6% 0,2% 0,4% -0,3% 1,4% 0,4% 0,7% -0,6% 7,1% 2,5% 11,5% -29,4% 6,7% BOND_Corp_Usa -6% -37% -49% -11% -16% -0,2% -1,5% -0,8% -3,9% * -1,6% 1,1% -2,6% -4,7% -2,0% 1,7% -3,0% -7,2% -27,5% 8,9% -24,4% -54,0% BOND_Corp_Emerg -20% -4,7% 1,3% 0,3% -0,4% -0,8% 1,0% -0,8% 1,9% -1,1% 1,0% -1,7% -13,4% -58,9% -11,1% -4,5% -66,0% BOND_High_Yeld_GL -38% -12% 27% 19% -10,3% * -3,8% * -0,9% -1,3% -1,3% -1,7% 2,7% -4,6% -1,7% -3,3% 3,3% 17,0% 18,9% 40,7% 61,9% 5,5% 57,1% © MarkeTiming Research (ALL RIGHTS REDERVED) MarkeTiming Selection for the week of 17/8/2020 Stocks FTSE_MIB_(ITALY) Unstable DownTrend about -1,9% in weekly mitigation. Take a Short Position with a Tactical Adjustment on portfolio composition from -5% to -4%. CAC_40_(FRANCE) Unstable DownTrend about -2,1% in weekly mitigation. Take a Short Position with a Tactical Adjustment on portfolio composition from -6% to -5%. DAX_(GERMANY) Unstable DownTrend about -0,1% in weekly mitigation. Take a Long Position with a Tactical Adjustment on portfolio composition from 0% to 9%. FTSE_100_(UK) Unstable DownTrend about -3,1% in weekly mitigation. Take a Short Position with a Tactical Adjustment on portfolio composition from -6% to -8%. Dow_ Jones_Ind_Av_(USA) Stable UpTrend about 4,7% in weekly progression. Bullish resistence over 28154. Increasing Volatility stance in a range of 2,3% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 43% to 11%. Nasdaq_100_(USA) Stable and aligned UpTrend about 4,8% in weekly progression. Bearish suppot under 10855. Increasing Volatility stance in a range of 3,7% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 20% to 17%. Nikkei_225_(JAPAN) Stable UpTrend about 2,6% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from 0% to 6%. Hang_Seng_(HONG KONG) Unstable UpTrend about 0,3% in weekly progression. Shanghai_Comp_(CHINA) Stable and aligned UpTrend about 4,5% in weekly progression. Bearish suppot under 3263. Increasing Volatility stance in a range of 4,3% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 7% to 13%. BSE_Sensex_(INDIA) Stable UpTrend Take a Long Position with a Tactical Adjustment on portfolio composition from 13% to 8%. RTSI_(RUSSIA) Unstable UpTrend about 8,8% in weekly progression. Bullish resistence over 1328. Increasing Volatility stance in a range of 4,6% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 8% to 61%. Ibovespa_(BRAZIL) Stable and aligned DownTrend about -4,3% in weekly progression. Bullish resistence over 16628. Increasing Volatility stance in a range of -5,8% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from -23% to -16%. Currency & Comodity EUR/USD Stable and aligned UpTrend about 3,6% in weekly progression. Bearish suppot under 1. Reducing Volatility stance in a range of 0,9% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 31% to 13%. Gold Stable and aligned UpTrend Take a Long Position with a Tactical Adjustment on portfolio composition from 42% to 25%. Crude_Oil_WTI Unstable UpTrend about 4% in weekly progression. Bullish resistence over 42. Increasing Volatility stance in a range of 4% (risk weight). Natural_Gas Stable UpTrend about 37,2% in weekly progression. Bearish suppot under 2. Increasing Volatility stance in a range of 12,9% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 54% to 78%. Agricolture Unstable DownTrend about -1,1% in weekly progression. Bond BGOV_ITA_BTP Stable UpTrend Take a Long Position with a Tactical Adjustment on portfolio composition from 19% to 26%. BGOV_GERM_BUND Unstable DownTrend about -0,2% in weekly progression. BGOV_UK_GILT Unstable DownTrend about -1,2% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from 7% to -12%. BGOV_USA_Treasury Unstable DownTrend about -0,6% in weekly progression. BGOV_Emerg_Mrkt_Loc Stable and aligned DownTrend about -2,5% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from -29% to -27%. BOND_Corp_Europa Stable UpTrend Take a Long Position with a Tactical Adjustment on portfolio composition from 6% to 9%. BOND_Corp_Usa Stable DownTrend about -3,9% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from -10% to -30%. BOND_Corp_Emerg Unstable DownTrend about -0,3% in weekly progression. BOND_High_Yeld_GL Stable and aligned DownTrend about -1,2% in weekly mitigation. Take a Short Position with a Tactical Adjustment on portfolio composition from -34% to -24%. © MarkeTiming Research (ALL RIGHTS REDERVED) MarkeTiming Selection for the week of 10/8/2020 This Report is a rappresentative study of markets stance and does not constitute an investment advisory service. MARKET SELECTION weekly outlook TREND STABILITY PRIMARY TREND trend evolution VOLATILITY STANCE range evolution VOLATILITY DINAMIC volatility evolution TIMING RESISTENCE SUPPORT POWER Stability Trend Return Risk Dynamic Timing Power LONG TERM MEDIUM TERM SHORT TERM 24/lug 31/lug 07/ago 24/lug 31/lug 07/ago 24/lug 31/lug 07/ago 07/ago 07/ago 07/ago Stocks FTSE_MIB_(ITALY) -5% -5,4% 4,7% -2,2% * -1,3% -1,7% -4,9% * 2,2% -10,8% -5,7% -5,4% * 4,8% -2,6% 14,2% -37,6% 7,2% 3,1% CAC_40_(FRANCE) -7% 25% -6,3% 2,7% -1,8% -1,6% -2,2% -3,5% 2,2% -8,2% -4,9% -3,9% 3,9% -13,8% 3,7% -89,5% 37,1% * 9,8% DAX_(GERMANY) 14% 3,7% 7,4% -1,3% 0,3% -0,6% -4,1% 2,9% -7,8% -3,8% -4,6% 3,4% 6,7% 50,3% -90,6% 21,4% FTSE_100_(UK) -8% -4% 16% 20% -8,4% -0,4% -1,7% -1,0% -2,6% * -3,7% 2,3% -7,5% -3,5% -3,7% 4,2% -31,5% * -15,7% -109,5% * 24,7% 30,4% Dow_ Jones_Ind_Av_(USA) 8% 22% 100% 44% 3,0% 6,8% 1,0% 5,2% * -0,8% -0,7% 4,4% * 5,5% -2,4% -2,4% 3,4% -17,7% -51,8% * -48,7% 0,1% 6,2% 60,9% Nasdaq_100_(USA) 30% 12% 22,4% * 14,3% * 2,8% * 2,8% -1,5% 3,5% 2,6% 8,9% * -6,5% * 3,4% 2,5% -5,2% -1,3% 2,7% -9,7% Nikkei_225_(JAPAN) 8% 2,0% 4,6% -0,9% 0,2% 0,2% -4,6% 2,9% -5,5% -1,5% -5,0% 3,0% -8,8% -14,1% -8,2% 0,5% 11,5% Hang_Seng_(HONG KONG) -20% -16% -3,6% 1,0% -1,0% -4,6% * -1,5% -0,4% -0,3% -7,7% -4,0% -1,8% -4,1% -25,8% -31,3% -14,7% -24,6% Shanghai_Comp_(CHINA) 20% -4% 13,2% 11,6% 1,4% -0,9% -0,5% 3,5% * 1,3% -8,5% -5,9% 4,8% * 2,5% -8,0% -25,2% 22,0% * -3,6% 0,4% BSE_Sensex_(INDIA) 11% 17% 3,0% 11,3% 0,5% 4,0% 3,0% -1,4% 1,2% 7,3% 2,8% -3,1% 3,5% -13,9% -3,2% -14,3% 2,2% -0,3% RTSI_(RUSSIA) 9% 12% 28% -3,2% 6,1% 1,7% 2,1% 3,3% * -1,7% 3,0% 8,1% 5,5% -4,0% 5,1% * -7,1% 26,0% -60,2% 17,4% 7,2% 35,3% Ibovespa_(BRAZIL) -24% -17% -21,6% * -8,6% * -1,4% -0,4% 2,2% 1,5% -4,5% * -10,9% * 7,5% * 4,2% -7,2% * 11,9% * 66,0% * 8,6% -25,6% * Currency & Comodity EUR/USD 14% 49% 2% 6,3% 5,6% 1,5% 4,3% 2,0% 1,1% 0,0% 5,3% 2,2% 2,2% 1,7% 8,0% 22,4% 9,0% -6,1% 2,8% Gold 43% 34% 51% -10% 22,7% * 13,9% 5,8% 12,7% 4,8% 3,5% 3,2% 14,8% 5,2% 4,1% 5,1% 21,9% 34,9% 58,2% 7,5% -11,7% Crude_Oil_WTI 14% -26% -2,2% * 26,5% * 1,0% 2,5% 1,8% -2,4% 2,9% 11,4% 6,0% -7,6% 9,3% 0,0% 11,9% -47,3% 19,3% 12,3% -42,4% Natural_Gas 43% 66% 86% 61% 8,9% 19,0% 14,8% * 24,2% * 5,3% 0,3% 24,8% 35,3% 12,1% -8,9% 19,2% 14,6% 11,7% -4,4% 117,8% 14,9% 55,9% Agricolture 0,2% -1,0% * -0,4% * -1,5% * -0,8% -1,2% 1,4% -5,0% -1,7% -1,5% 1,4% -21,3% -2,6% -3,3% -3,6% 1,5% Bond BGOV_ITA_BTP 14% 13% 32% 2,7% 3,4% * 0,6% * 2,1% * 1,2% -0,1% 0,7% 2,4% 1,1% -0,5% 0,9% 1,7% 12,0% -41,1% 2,6% -3,1% BGOV_GERM_BUND 4% 8% 1,0% 0,6% 0,3% 0,2% 0,1% 0,6% -0,2% 1,1% 0,7% 0,9% -0,5% 9,3% 27,6% 25,5% 11,2% -3,2% BGOV_UK_GILT 7% -11% -30% 3,1% 0,2% 0,1% -0,6% 0,3% 0,6% -0,7% -2,3% -1,3% 1,1% -1,3% -10,2% 47,6% -16,0% -15,0% -2,3% -40,0% BGOV_USA_Treasury 10% -13% 3,8% * 0,8% 0,3% 0,6% 0,4% 0,3% -0,3% 1,1% 0,4% 0,5% 0,5% -6,2% 8,2% -4,4% -17,3% -1,4% BGOV_Emerg_Mrkt_Loc -26% -32% -30% -20% -7,4% -3,1% -1,6% * -5,5% -0,3% -1,3% -0,9% -6,4% -1,9% -2,0% -1,6% -8,8% -3,2% -7,4% -27,5% -0,3% BOND_Corp_Europa 7% 5% 9% 1,2% 2,0% 0,3% 0,9% 0,4% 0,2% 0,4% 1,3% 0,9% 0,4% 0,7% 16,4% 41,9% 2,5% 11,5% BOND_Corp_Usa -11% 0,6% -0,9% -0,8% -1,8% -0,8% -1,6% 1,1% -3,7% -1,6% -2,0% 1,7% -3,0% 1,7% -27,5% 8,9% 2,2% BOND_Corp_Emerg 6% -8% 39% -5,3% 1,2% 0,1% 1,0% 0,1% -0,8% 1,0% 2,0% 1,6% -1,1% 1,0% -17,5% 9,3% -58,9% -11,1% 12,3% 42,0% BOND_High_Yeld_GL -32% -33% -38% 30% -31% -10,2% * -3,8% * -1,1% -5,7% * -1,0% -1,3% -1,7% -5,2% -1,6% -1,7% -3,3% -6,2% -150,0% 18,9% 40,7% -0,4% -43,8% © MarkeTiming Research (ALL RIGHTS REDERVED) MarkeTiming Selection for the week of 10/8/2020 Stocks FTSE_MIB_(ITALY) Unstable DownTrend about -1,2% in weekly mitigation. Take a Short Position with a Tactical Adjustment on portfolio composition from -7% to -5%. CAC_40_(FRANCE) Unstable DownTrend about -1,6% in weekly mitigation. Take a Short Position with a Tactical Adjustment on portfolio composition from -10% to -6%. DAX_(GERMANY) Unstable UpTrend about 0,3% in weekly progression. FTSE_100_(UK) Stable DownTrend about -1% in weekly mitigation. Take a Short Position with a Tactical Adjustment on portfolio composition from -21% to -6%. Dow_ Jones_Ind_Av_(USA) Stable UpTrend about 5,2% in weekly progression. Bullish resistence over 27456. Increasing Volatility stance in a range of 3,3% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 4% to 43%. Nasdaq_100_(USA) Stable and aligned UpTrend about 2,7% in weekly progression. Bullish resistence over 11282. Increasing Volatility stance in a range of 2,5% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 23% to 20%. Nikkei_225_(JAPAN) Unstable UpTrend about 0,1% in weekly progression. Hang_Seng_(HONG KONG) Unstable DownTrend about -4,6% in weekly progression. Bearish suppot under 24167. Increasing Volatility stance in a range of -4,1% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from -7% to -19%. Shanghai_Comp_(CHINA) Unstable DownTrend about -0,8% in weekly mitigation. Take a Long Position with a Tactical Adjustment on portfolio composition from 11% to 7%. BSE_Sensex_(INDIA) Stable UpTrend about 3,9% in weekly progression. Bullish resistence over 38221. Increasing Volatility stance in a range of 3,4% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 55% to 13%. RTSI_(RUSSIA) Unstable UpTrend about 2% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from 0% to 8%. Ibovespa_(BRAZIL) Stable and aligned DownTrend about -0,3% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from 25% to -23%. Currency & Comodity EUR/USD #DIV/0! Gold Stable and aligned UpTrend about 12,7% in weekly progression. Bullish resistence over 2077. Increasing Volatility stance in a range of 5,1% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 55% to 42%. Crude_Oil_WTI Unstable UpTrend about 2,4% in weekly progression. Natural_Gas Stable UpTrend about 24,1% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from 15% to 54%. Agricolture Unstable DownTrend about -1,5% in weekly mitigation. Bond BGOV_ITA_BTP Stable UpTrend about 2,1% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from 24% to 19%. BGOV_GERM_BUND Stable and aligned UpTrend Take a Long Position with a Tactical Adjustment on portfolio composition from 4% to 3%. BGOV_UK_GILT Unstable DownTrend about -0,6% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from 6% to 7%. BGOV_USA_Treasury Stable and aligned UpTrend Take a Long Position with a Tactical Adjustment on portfolio composition from 7% to 10%. BGOV_Emerg_Mrkt_Loc Stable and aligned DownTrend about -5,5% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from -33% to -29%. BOND_Corp_Europa Stable UpTrend about 0,9% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from 5% to 6%. BOND_Corp_Usa Unstable DownTrend about -1,8% in weekly mitigation. Take a Short Position with a Tactical Adjustment on portfolio composition from -15% to -10%. BOND_Corp_Emerg Unstable UpTrend about 0,9% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from 0% to 5%. BOND_High_Yeld_GL Stable and aligned DownTrend about -5,6% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from -29% to -34%. © MarkeTiming Research (ALL RIGHTS REDERVED) MarkeTiming Selection for the week of 3/8/2020 This Report is a rappresentative study of markets stance and does not constitute an investment advisory service. MARKET SELECTION weekly outlook TREND STABILITY PRIMARY TREND trend evolution VOLATILITY STANCE range evolution VOLATILITY DINAMIC volatility evolution TIMING RESISTENCE SUPPORT POWER Stability Trend Return Risk Dynamic Timing Power LONG TERM MEDIUM TERM SHORT TERM 17/lug 24/lug 31/lug 17/lug 24/lug 31/lug 17/lug 24/lug 31/lug 31/lug 31/lug 31/lug Stocks FTSE_MIB_(ITALY) -8% -14% -4,7% 6,8% -1,4% -3,2% 3,3% * -1,7% -4,9% * -10,1% * 3,5% -5,7% -5,4% * -10,2% 4,5% 14,2% -37,6% -6,3% -46,0% CAC_40_(FRANCE) -10% -22% -16% -6,3% 4,0% -1,8% -4,5% * 2,0% -2,2% -3,5% -7,7% 4,0% -4,9% -3,9% -18,5% 10,3% 3,7% -89,5% -18,0% -41,3% DAX_(GERMANY) -4% -23% -15% 4,5% 9,8% -0,4% -1,7% 2,3% -0,6% -4,1% -7,8% 3,6% -3,8% -4,6% -3,7% 16,0% 50,3% -90,6% -55,2% FTSE_100_(UK) -10% -32% -27% -19% -8,1% 0,9% -1,4% -4,2% 3,2% -2,6% * -3,7% -6,4% 3,7% -3,5% -3,7% -23,8% * 20,8% -15,7% -109,5% * -20,8% -53,1% Dow_ Jones_Ind_Av_(USA) 4% -12% 0,7% 5,7% -0,2% 1,8% 2,3% -0,8% -0,7% 5,8% 4,0% -2,4% -2,4% -19,9% 21,4% * -51,8% * -48,7% Nasdaq_100_(USA) 12% 35% 11% 18,5% * 11,9% -0,3% 4,9% -1,8% -1,5% 3,5% 7,0% -6,5% -6,5% * 3,4% -0,7% -14,5% -1,3% 2,7% 40,5% Nikkei_225_(JAPAN) -6% -16% 2,3% 6,1% -0,7% -2,6% 1,8% 0,2% -4,6% -5,5% 1,9% -1,5% -5,0% -0,3% -15,5% -14,1% -8,2% -62,6% Hang_Seng_(HONG KONG) -7% -3,7% 1,5% -2,2% * -3,1% -2,5% -1,5% -0,4% -8,8% -4,6% -4,0% -1,8% -10,2% -32,8% -31,3% -14,7% Shanghai_Comp_(CHINA) 12% 10% 9,9% 9,3% -1,9% 5,0% -5,0% * -0,5% 3,5% * 8,5% -8,2% * -5,9% 4,8% * 5,3% -17,7% -25,2% 22,0% * 1,6% 35,1% BSE_Sensex_(INDIA) 100% 10% 3,9% 14,2% * 2,3% * 4,4% 1,2% 3,0% -1,4% 7,3% 3,4% 2,8% -3,1% -15,5% -35,0% -3,2% -14,3% -5,7% RTSI_(RUSSIA) -15% -4,6% 6,1% 1,1% -0,1% -2,4% 3,3% * -1,7% -6,4% -4,9% 5,5% -4,0% -7,5% -15,8% 26,0% -60,2% -15,0% Ibovespa_(BRAZIL) 17% 33% -20,5% * -7,6% * 1,2% 7,4% * 0,7% 2,2% 1,5% 11,0% * 5,2% * 7,5% * 4,2% 17,7% * -47,3% * 66,0% * 8,6% 12,0% Currency & Comodity EUR/USD 27% 23% 47% 8% 6,0% 5,6% 2,2% 4,8% 1,1% 2,0% 1,1% 5,8% 1,3% 2,2% 2,2% 17,3% 3,2% 22,4% 9,0% 3,8% Gold 67% 47% 53% 51% 31% 18,9% * 10,9% 4,7% * 10,0% * 0,6% 4,8% 3,5% 10,8% 1,5% 5,2% 4,1% 22,0% -5,0% 34,9% 58,2% 17,4% Crude_Oil_WTI -41% 69% -4,5% 28,7% * 0,3% 0,1% 0,2% 1,8% -2,4% -9,6% 5,3% 6,0% -7,6% -6,6% 1,1% 11,9% -47,3% -1,2% 39,5% Natural_Gas 15% -6,7% * 4,1% 3,6% 3,2% -5,7% 5,3% 0,3% 18,1% -7,0% 12,1% -8,9% 6,2% -25,6% 11,7% -4,4% 1,3% Agricolture -6% -15% -0,3% -1,2% * -1,4% * -3,2% * -0,9% -0,8% -1,2% -5,0% -2,9% -1,7% -1,5% -28,8% -185,1% -2,6% -3,3% -1,7% Bond BGOV_ITA_BTP 14% 11% 49% -24% -2% 2,4% 3,4% * 0,9% * 1,7% * 0,3% 1,2% -0,1% 2,1% 0,6% 1,1% -0,5% 1,1% 19,2% 12,0% -41,1% -1,8% BGOV_GERM_BUND 4% 5% 15% 60% 0,9% 0,6% 0,3% 0,9% -0,3% 0,1% 0,6% 1,3% -0,6% 0,7% 0,9% 6,7% -22,2% 27,6% 25,5% 2,2% 41,8% BGOV_UK_GILT 9% 5% -2% 3,5% 0,4% 0,3% 0,7% -0,7% 0,3% 0,6% 2,2% -1,7% -1,3% 1,1% -9,3% -33,8% 47,6% -16,0% -1,2% BGOV_USA_Treasury 11% 5% 4,0% * 0,8% 0,4% 0,8% 0,1% 0,4% 0,3% 1,5% 0,5% 0,4% 0,5% 0,3% -8,7% 8,2% -4,4% BGOV_Emerg_Mrkt_Loc -22% -29% -51% 2% -6,7% -1,9% -1,8% -4,8% * -3,2% -0,3% -1,3% -5,7% -3,8% -1,9% -2,0% -6,1% -7,2% -3,2% -7,4% 1,8% BOND_Corp_Europa 7% 4% 1,0% 2,2% 0,3% 0,7% 0,0% 0,4% 0,2% 1,1% -0,5% 0,9% 0,4% 12,8% 26,4% 41,9% 2,5% BOND_Corp_Usa -15% -16% -9% 0,3% -0,9% -1,6% -2,5% -0,5% -0,8% -1,6% -4,1% -1,2% -1,6% -2,0% -7,8% -3,4% 1,7% -27,5% -6,5% BOND_Corp_Emerg -34% 4% -6,0% 1,4% -0,2% -0,3% 0,5% 0,1% -0,8% -2,0% 1,2% 1,6% -1,1% -18,4% -22,8% 9,3% -58,9% 2,9% BOND_High_Yeld_GL -34% -25% 11% -21% -10,3% * -4,2% * -2,1% * -4,1% -1,9% -1,0% -1,3% -6,1% -2,6% -1,6% -1,7% -35,1% -78,6% -150,0% 18,9% -15,7% © MarkeTiming Research (ALL RIGHTS REDERVED) MarkeTiming Selection for the week of 3/8/2020 Stocks FTSE_MIB_(ITALY) Unstable DownTrend about -3,2% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from 11% to -7%. CAC_40_(FRANCE) Unstable DownTrend about -4,4% in weekly progression. Bullish resistence over 4978. Increasing Volatility stance in a range of -3,9% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from 0% to -10%. DAX_(GERMANY) Unstable DownTrend about -1,7% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from 15% to -4%. FTSE_100_(UK) Unstable DownTrend about -4,2% in weekly progression. Bullish resistence over 6155. Increasing Volatility stance in a range of -3,7% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from 0% to -21%. Dow_ Jones_Ind_Av_(USA) Unstable UpTrend Take a Long Position with a Tactical Adjustment on portfolio composition from 23% to 4%. Nasdaq_100_(USA) Stable and aligned UpTrend about 4,9% in weekly progression. Bullish resistence over 10893. Increasing Volatility stance in a range of 3,4% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 20% to 23%. Nikkei_225_(JAPAN) Unstable DownTrend about -2,6% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from 10% to -6%. Hang_Seng_(HONG KONG) Unstable DownTrend about -3% in weekly progression. Bearish suppot under 24526. Reducing Volatility stance in a range of -1,7% (risk weight). Take a Short Position with a Tactical Adjustment on portfolio composition from 0% to -7%. Shanghai_Comp_(CHINA) Stable and aligned UpTrend about 4,9% in weekly progression. Bullish resistence over 3333. Increasing Volatility stance in a range of 4,8% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 17% to 11%. BSE_Sensex_(INDIA) Stable UpTrend Take a Long Position with a Tactical Adjustment on portfolio composition from 29% to 55%. RTSI_(RUSSIA) Unstable DownTrend about 0% in weekly progression. Ibovespa_(BRAZIL) Unstable UpTrend about 7,4% in weekly progression. Bearish suppot under 16628. Increasing Volatility stance in a range of 4,2% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 13% to 25%. Currency & Comodity EUR/USD Stable and aligned UpTrend about 4,8% in weekly progression. Bearish suppot under 1. Increasing Volatility stance in a range of 2,2% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 59% to 32%. Gold Stable and aligned UpTrend about 10% in weekly progression. Bullish resistence over 1980. Increasing Volatility stance in a range of 4,1% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 32% to 55%. Crude_Oil_WTI Unstable UpTrend Natural_Gas Unstable UpTrend about 3,2% in weekly progression. Bearish suppot under 1. Increasing Volatility stance in a range of -8,9% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 6% to 15%. Agricolture Stable DownTrend about -3,1% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from 0% to -10%. Bond BGOV_ITA_BTP Stable UpTrend Take a Long Position with a Tactical Adjustment on portfolio composition from 46% to 24%. BGOV_GERM_BUND Stable and aligned UpTrend about 0,8% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from 2% to 4%. BGOV_UK_GILT Stable and aligned UpTrend about 0,7% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from 8% to 6%. BGOV_USA_Treasury Stable and aligned UpTrend about 0,8% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from 9% to 7%. BGOV_Emerg_Mrkt_Loc Stable and aligned DownTrend about -4,7% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from -27% to -33%. BOND_Corp_Europa Stable UpTrend about 0,7% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from 10% to 5%. BOND_Corp_Usa Unstable DownTrend about -2,4% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from 0% to -15%. BOND_Corp_Emerg Unstable DownTrend about -0,3% in weekly progression. BOND_High_Yeld_GL Stable and aligned DownTrend about -4,1% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from -10% to -29%. © MarkeTiming Research (ALL RIGHTS REDERVED) MarkeTiming Selection for the week of 27/7/2020 This Report is a rappresentative study of markets stance and does not constitute an investment advisory service. MARKET SELECTION weekly outlook TREND STABILITY PRIMARY TREND trend evolution VOLATILITY STANCE range evolution VOLATILITY DINAMIC volatility evolution TIMING RESISTENCE SUPPORT POWER Stability Trend Return Risk Dynamic Timing Power LONG TERM MEDIUM TERM SHORT TERM 10/lug 17/lug 24/lug 10/lug 17/lug 24/lug 10/lug 17/lug 24/lug 24/lug 24/lug 24/lug Stocks FTSE_MIB_(ITALY) 11% -23% -1,2% 11,9% 2,6% 5,0% 0,2% 3,3% * -1,7% 10,0% -4,1% 3,5% -5,7% 1,4% -14,6% 4,5% 14,2% -6,6% -39,9% CAC_40_(FRANCE) -3,9% 7,8% 0,7% 1,0% -0,7% 2,0% -2,2% 6,4% -4,7% * 4,0% -4,9% 2,5% -9,8% 10,3% 3,7% -0,3% DAX_(GERMANY) 18% 14% 20% -1% 7,2% 14,4% 2,7% 6,2% 0,8% 2,3% -0,6% 9,9% -3,4% 3,6% -3,8% 9,2% 0,7% 16,0% 50,3% -1,6% FTSE_100_(UK) -29% -6,2% 4,0% 0,5% -0,6% * -1,0% * 3,2% -2,6% * -4,5% * -4,2% 3,7% -3,5% 3,3% 10,4% 20,8% -15,7% -1,7% -58,8% Dow_ Jones_Ind_Av_(USA) 9% 13% 47% -21% 1,9% 8,4% 1,7% 5,8% 1,0% 2,3% -0,8% 7,5% 3,0% 4,0% -2,4% -7,3% -16,4% * 21,4% * -51,8% * Nasdaq_100_(USA) 28% 14% 2% 20,3% * 14,9% 1,5% 6,4% 4,8% -1,8% -1,5% 12,4% 3,3% -6,5% -6,5% * -1,5% 4,9% -14,5% -1,3% 3,8% Nikkei_225_(JAPAN) 10% 3,9% 8,8% 1,0% 1,1% 0,0% 1,8% 0,2% 4,4% -2,0% 1,9% -1,5% -2,0% 30,1% -15,5% -14,1% Hang_Seng_(HONG KONG) -12% 2% -2,1% 3,7% -0,4% * 0,6% 1,4% -2,5% -1,5% 10,3% 4,7% -4,6% -4,0% -7,8% 22,3% -32,8% -31,3% 4,0% Shanghai_Comp_(CHINA) 18% 16% -10% 5% 11,7% 11,8% 1,1% 7,3% 7,3% * -5,0% * -0,5% 15,4% 7,9% * -8,2% * -5,9% 15,0% 65,3% * -17,7% -25,2% 10,7% BSE_Sensex_(INDIA) 17% 19% 53% 2% 3,2% 15,4% * 3,4% * 8,4% * 1,6% 1,2% 3,0% 9,7% 1,6% 3,4% 2,8% -11,4% * -10,1% -35,0% -3,2% 3,7% RTSI_(RUSSIA) 10% 27% -5,3% 7,0% 1,0% 0,7% 0,8% -2,4% 3,3% * 6,2% -3,5% -4,9% 5,5% -2,1% 3,4% -15,8% 26,0% 1,4% 53,3% Ibovespa_(BRAZIL) 13% 26% 10% -21,3% * -9,1% * 3,2% 6,0% 3,0% 0,7% 2,2% 19,9% * 4,7% 5,2% * 7,5% * 20,3% * 19,5% -47,3% * 66,0% * 19,8% Currency & Comodity EUR/USD 18% 100% 39% 46% 4,2% 4,0% 1,4% 3,9% 0,5% 1,1% 2,0% 3,9% 1,1% 1,3% 2,2% 1,5% 25,4% 3,2% 22,4% 8,9% 56,5% Gold 43% 21% 61% 54% 14,1% * 6,8% 2,1% * 6,5% 0,8% 0,6% 4,8% 7,6% 2,8% 1,5% 5,2% 2,7% 7,9% -5,0% 34,9% 13,6% 64,1% Crude_Oil_WTI 27% -4,3% 34,0% * 1,8% 8,2% 0,5% 0,2% 1,8% 12,2% 6,2% 5,3% 6,0% 5,3% -0,6% 1,1% 11,9% -0,7% Natural_Gas -38% 52% -14,3% * -3,5% * -2,7% * 16,2% * 3,7% -5,7% 5,3% 20,3% 10,0% -7,0% 12,1% 20,3% 23,8% -25,6% 11,7% 4,6% Agricolture 1,3% 0,7% -0,5% -2,0% * -0,3% -0,9% -0,8% -3,4% -0,9% -2,9% -1,7% -31,0% -28,7% -185,1% -2,6% -4,6% Bond BGOV_ITA_BTP 15% 23% 100% 43% 2,0% 3,2% * 0,9% * 2,0% * 0,3% 0,3% 1,2% 2,3% 0,4% 0,6% 1,1% 0,7% -0,3% 19,2% 12,0% 2,5% 41,5% BGOV_GERM_BUND 2% 10% 4% 0,5% 0,3% 0,1% -0,2% 0,5% -0,3% 0,1% -1,0% 0,9% -0,6% 0,7% 2,3% -6,5% -22,2% 27,6% 3,6% BGOV_UK_GILT 9% 18% -43% 3,3% 0,2% 0,1% -0,2% 0,6% -0,7% 0,3% 2,1% 1,1% -1,7% -1,3% -1,6% -10,3% -33,8% 47,6% -5,9% -38,7% BGOV_USA_Treasury 12% 8% 3,8% * 0,6% 0,3% 0,6% 0,0% 0,1% 0,4% 1,2% 0,9% 0,5% 0,4% 13,4% 6,1% -8,7% 8,2% BGOV_Emerg_Mrkt_Loc -21% -35% -2% -6,0% -0,6% -1,7% * -3,0% * -0,1% -3,2% -0,3% -4,8% -1,3% -3,8% -1,9% -3,4% -6,1% -7,2% -3,2% -2,0% BOND_Corp_Europa 9% 13% 16% 0,8% 2,4% 0,4% 1,1% 0,2% 0,0% 0,4% 1,5% 0,5% -0,5% 0,9% 16,5% -7,8% 26,4% 41,9% -0,8% BOND_Corp_Usa -6% 2,4% 1,5% 0,0% 0,0% 0,4% -0,5% -0,8% 2,5% 1,8% -1,2% -1,6% 0,7% -5,7% -3,4% 1,7% -5,7% BOND_Corp_Emerg 10% -3% -5,7% 2,7% 0,5% 0,8% -0,3% 0,5% 0,1% 2,7% -1,1% 1,2% 1,6% -5,3% -11,9% -22,8% 9,3% -3,0% BOND_High_Yeld_GL -33% 12% -56% -9,0% * -3,1% * -1,0% 1,0% 0,0% -1,9% -1,0% 6,4% -1,9% -2,6% -1,6% -38,3% -38,9% -78,6% -150,0% © MarkeTiming Research (ALL RIGHTS REDERVED) MarkeTiming Selection for the week of 27/7/2020 Stocks FTSE_MIB_(ITALY) Unstable UpTrend Take a Long Position with a Tactical Adjustment on portfolio composition from 12% to 11%. CAC_40_(FRANCE) Unstable UpTrend DAX_(GERMANY) Stable UpTrend Take a Long Position with a Tactical Adjustment on portfolio composition from 16% to 15%. FTSE_100_(UK) Unstable DownTrend about -0,6% in weekly progression. Dow_ Jones_Ind_Av_(USA) Stable UpTrend Take a Long Position with a Tactical Adjustment on portfolio composition from 10% to 23%. Nasdaq_100_(USA) Stable and aligned UpTrend Take a Long Position with a Tactical Adjustment on portfolio composition from 25% to 20%. Nikkei_225_(JAPAN) Stable UpTrend about 1% in weekly progression. Bearish suppot under 22580. Increasing Volatility stance in a range of -1,5% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 12% to 10%. Hang_Seng_(HONG KONG) Unstable UpTrend Shanghai_Comp_(CHINA) Stable UpTrend Take a Long Position with a Tactical Adjustment on portfolio composition from 25% to 17%. BSE_Sensex_(INDIA) Stable UpTrend about 8,4% in weekly progression. Bullish resistence over 38235. Increasing Volatility stance in a range of 2,7% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 59% to 29%. RTSI_(RUSSIA) Unstable UpTrend about 0,7% in weekly progression. Ibovespa_(BRAZIL) Unstable UpTrend about 6% in weekly progression. Bullish resistence over 17733. Increasing Volatility stance in a range of 7,5% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 11% to 13%. Currency & Comodity EUR/USD Stable and aligned UpTrend about 3,9% in weekly progression. Bullish resistence over 1. Increasing Volatility stance in a range of 2,2% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 63% to 59%. Gold Stable and aligned UpTrend about 6,4% in weekly progression. Bullish resistence over 1904. Increasing Volatility stance in a range of 5,2% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 64% to 32%. Crude_Oil_WTI Unstable UpTrend about 8,2% in weekly progression. Bearish suppot under 39. Increasing Volatility stance in a range of 6% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 43% to 26%. Natural_Gas Unstable UpTrend about 16,1% in weekly progression. Bullish resistence over 1. Increasing Volatility stance in a range of 12,1% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 0% to 6%. Agricolture Unstable DownTrend about -1,9% in weekly progression. Bond BGOV_ITA_BTP Stable UpTrend about 1,9% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from 25% to 46%. BGOV_GERM_BUND Unstable DownTrend about -0,1% in weekly mitigation. Take a Long Position with a Tactical Adjustment on portfolio composition from 2% to 2%. BGOV_UK_GILT Unstable DownTrend about -0,2% in weekly mitigation. Take a Long Position with a Tactical Adjustment on portfolio composition from 5% to 8%. BGOV_USA_Treasury Stable and aligned UpTrend about 0,6% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from 11% to 9%. BGOV_Emerg_Mrkt_Loc Stable DownTrend about -2,9% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from -44% to -27%. BOND_Corp_Europa Stable UpTrend about 1% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from 8% to 10%. BOND_Corp_Usa Unstable DownTrend about 0% in weekly progression. BOND_Corp_Emerg Unstable UpTrend about 0,8% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from -12% to 9%. BOND_High_Yeld_GL Unstable UpTrend Take a Short Position with a Tactical Adjustment on portfolio composition from -23% to -10%. © MarkeTiming Research (ALL RIGHTS REDERVED) MarkeTiming Selection for the week of 20/7/2020 This Report is a rappresentative study of markets stance and does not constitute an investment advisory service. MARKET SELECTION weekly outlook TREND STABILITY PRIMARY TREND trend evolution VOLATILITY STANCE range evolution VOLATILITY DINAMIC volatility evolution TIMING RESISTENCE SUPPORT POWER Stability Trend Return Risk Dynamic Timing Power LONG TERM MEDIUM TERM SHORT TERM 03/lug 10/lug 17/lug 03/lug 10/lug 17/lug 03/lug 10/lug 17/lug 17/lug 17/lug 17/lug Stocks FTSE_MIB_(ITALY) 12% -3,4% 11,4% 1,9% 4,1% 3,1% 0,2% 3,3% * 7,6% 4,4% -4,1% 3,5% -2,5% 2,4% -14,6% 4,5% CAC_40_(FRANCE) -4,2% 9,2% 1,2% 1,8% 2,0% -0,7% 2,0% 7,0% 4,4% -4,7% * 4,0% 3,0% 5,1% -9,8% 10,3% DAX_(GERMANY) 18% 14% 5,4% 14,6% 2,4% 4,8% 3,6% 0,8% 2,3% 8,3% 4,9% -3,4% 3,6% 1,6% -2,0% 0,7% 16,0% FTSE_100_(UK) 13% 67% -6,8% 4,7% 0,3% 0,0% -0,1% -1,0% * 3,2% -4,7% 2,2% -4,2% 3,7% 14,9% 21,5% 10,4% 20,8% 6,7% 66,2% Dow_ Jones_Ind_Av_(USA) 11% 14% 4% 1,4% 9,5% 2,3% 3,1% 3,2% 1,0% 2,3% 8,0% 4,3% 3,0% 4,0% -8,3% -1,8% -16,4% * 21,4% * 4,6% Nasdaq_100_(USA) 32% 19% -3% 20,5% * 16,6% * 2,5% 6,4% 5,0% 4,8% -1,8% 12,6% 6,7% 3,3% -6,5% -9,3% 4,9% -14,5% -3,1% Nikkei_225_(JAPAN) 12% 3,8% 10,4% 1,2% 1,0% -1,0% * 0,0% 1,8% 4,4% 2,1% -2,0% 1,9% -9,0% -21,2% 30,1% -15,5% Hang_Seng_(HONG KONG) -21% -8% -1,2% 5,4% 1,1% 1,8% 3,4% 1,4% -2,5% 10,3% 5,2% 4,7% -4,6% -5,1% -3,7% 22,3% -32,8% -8,6% Shanghai_Comp_(CHINA) 27% 25% -15% 13,6% 14,6% 5,1% * 8,3% * 5,8% * 7,3% * -5,0% * 15,9% * 6,6% 7,9% * -8,2% * 22,3% * 37,0% * 65,3% * -17,7% -16,5% BSE_Sensex_(INDIA) 19% 100% -22% -1% -0,5% 12,8% 1,7% 6,6% 2,4% 1,6% 1,2% 7,3% 4,1% 1,6% 3,4% -15,8% 9,8% -10,1% -35,0% -1,0% RTSI_(RUSSIA) 3% -7,5% 6,3% -1,5% * -2,7% * -0,9% 0,8% -2,4% -6,9% * -3,2% * -3,5% -4,9% -20,4% * -36,3% * 3,4% -15,8% 2,9% Ibovespa_(BRAZIL) 11% -30% -23,7% * -12,2% * 2,3% 3,8% 0,1% 3,0% 0,7% 14,1% 12,6% * 4,7% 5,2% * 0,8% 19,5% -47,3% * Currency & Comodity EUR/USD 27% 100% 32% 2,9% 3,0% 0,8% 2,2% 0,3% 0,5% 1,1% 2,5% 0,7% 1,1% 1,3% -2,4% -78,5% 25,4% 3,2% 4,1% 46,6% Gold 73% 57% 2% 11,8% * 5,3% 0,7% 3,3% * 0,2% 0,8% 0,6% 4,2% 2,3% 2,8% 1,5% -3,9% -48,3% 7,9% -5,0% 3,4% Crude_Oil_WTI 43% 3% -7,0% 35,0% * 1,1% * 2,5% 5,4% 0,5% 0,2% 11,2% 8,0% 6,2% 5,3% -6,8% 7,6% -0,6% 1,1% 4,6% Natural_Gas -12% -2% -12,6% * -0,8% * 1,0% 2,0% 12,9% 3,7% -5,7% -22,8% 11,3% 10,0% -7,0% 3,1% 46,5% 23,8% -25,6% -3,9% Agricolture -88% -60% 1,8% 1,7% -0,2% * -0,9% * 0,0% -0,3% -0,9% -2,9% 1,2% -0,9% -2,9% -31,1% -12,9% -28,7% -185,1% -10,0% -85,8% Bond BGOV_ITA_BTP 12% 14% 51% 9% 1% 0,9% 2,4% 0,2% 1,1% * 0,1% 0,3% 0,3% 1,5% 0,7% 0,4% 0,6% 19,2% -28,5% -0,3% 19,2% 1,1% BGOV_GERM_BUND 2% 2% -11% 0% 0,4% 0,2% 0,1% 0,2% -0,5% 0,5% -0,3% 1,0% -0,9% 0,9% -0,6% 4,4% 5,7% -6,5% -22,2% 0,5% BGOV_UK_GILT 6% -17% 32% 3,2% 0,3% -0,1% 0,5% -0,3% 0,6% -0,7% 2,1% -1,3% 1,1% -1,7% -8,0% 22,3% -10,3% -33,8% 40,6% BGOV_USA_Treasury 15% 8% 3,8% * 0,5% 0,3% 0,6% 0,1% 0,0% 0,1% 1,0% 0,6% 0,9% 0,5% 13,9% 25,2% 6,1% -8,7% BGOV_Emerg_Mrkt_Loc -41% -49% -66% -4,8% 1,3% -0,9% * -3,3% * 0,6% -0,1% -3,2% -4,4% 1,6% -1,3% -3,8% -5,2% 2,8% -6,1% -7,2% -3,6% -80,2% BOND_Corp_Europa 10% 6% 13% 0,4% 2,5% 0,2% 0,5% 0,5% 0,2% 0,0% 1,1% 0,8% 0,5% -0,5% 9,1% 12,5% -7,8% 26,4% BOND_Corp_Usa 18% 6% -1% 2,6% 2,3% 0,3% * 0,5% 0,9% 0,4% -0,5% 3,3% 1,9% 1,8% -1,2% -3,4% 10,8% -5,7% -3,4% -0,9% BOND_Corp_Emerg -13% -11% -6,6% 2,9% * 0,1% -1,1% 0,4% -0,3% 0,5% -2,5% 2,2% -1,1% 1,2% -13,9% -6,6% -11,9% -22,8% BOND_High_Yeld_GL -43% -4% -39% -8,9% * -3,1% * -0,6% -0,3% 3,9% 0,0% -1,9% -6,4% 6,4% -1,9% -2,6% -16,2% -0,1% -38,9% -78,6% © MarkeTiming Research (ALL RIGHTS REDERVED) MarkeTiming Selection for the week of 20/7/2020 Stocks FTSE_MIB_(ITALY) Unstable UpTrend about 4% in weekly progression. Bullish resistence over 20388. Increasing Volatility stance in a range of 3,5% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 8% to 12%. CAC_40_(FRANCE) Unstable UpTrend about 1,8% in weekly progression. DAX_(GERMANY) Stable UpTrend about 4,7% in weekly progression. Bullish resistence over 12999. Increasing Volatility stance in a range of 3,6% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 13% to 16%. FTSE_100_(UK) Unstable DownTrend about 0% in weekly mitigation. Dow_ Jones_Ind_Av_(USA) Stable UpTrend about 3% in weekly progression. Bullish resistence over 27071. Increasing Volatility stance in a range of 4% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 0% to 10%. Nasdaq_100_(USA) Stable and aligned UpTrend Take a Long Position with a Tactical Adjustment on portfolio composition from 35% to 25%. Nikkei_225_(JAPAN) Stable UpTrend about 0,9% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from 10% to 12%. Hang_Seng_(HONG KONG) Unstable UpTrend Shanghai_Comp_(CHINA) Stable UpTrend Take a Long Position with a Tactical Adjustment on portfolio composition from 36% to 25%. BSE_Sensex_(INDIA) Unstable UpTrend about 6,5% in weekly progression. Bearish suppot under 35877. Increasing Volatility stance in a range of 3,3% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 15% to 59%. RTSI_(RUSSIA) Unstable DownTrend about -2,6% in weekly progression. Bullish resistence over 1257. Increasing Volatility stance in a range of -4,9% (risk weight). Ibovespa_(BRAZIL) Unstable UpTrend about 3,7% in weekly progression. Bearish suppot under 15877. Increasing Volatility stance in a range of 5,1% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 0% to 11%. Currency & Comodity EUR/USD Stable UpTrend about 2,2% in weekly progression. Bullish resistence over 1. Increasing Volatility stance in a range of 1,3% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 16% to 63%. Gold Stable and aligned UpTrend about 3,2% in weekly progression. Bearish suppot under 1792. Increasing Volatility stance in a range of 1,4% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 44% to 64%. Crude_Oil_WTI Unstable UpTrend about 2,4% in weekly progression. Bearish suppot under 39. Increasing Volatility stance in a range of 5,3% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 56% to 43%. Natural_Gas Unstable UpTrend Agricolture Unstable DownTrend about -0,9% in weekly progression. Bond BGOV_ITA_BTP Stable UpTrend about 1,1% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from 31% to 25%. BGOV_GERM_BUND Stable and aligned UpTrend Take a Long Position with a Tactical Adjustment on portfolio composition from 0% to 2%. BGOV_UK_GILT Stable and aligned UpTrend Take a Long Position with a Tactical Adjustment on portfolio composition from 20% to 5%. BGOV_USA_Treasury Stable and aligned UpTrend about 0,6% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from 18% to 11%. BGOV_Emerg_Mrkt_Loc Unstable DownTrend about -3,3% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from 0% to -44%. BOND_Corp_Europa Stable UpTrend Take a Long Position with a Tactical Adjustment on portfolio composition from 13% to 8%. BOND_Corp_Usa Stable and aligned UpTrend Take a Long Position with a Tactical Adjustment on portfolio composition from 43% to 11%. BOND_Corp_Emerg Unstable DownTrend about -1% in weekly mitigation. Take a Short Position with a Tactical Adjustment on portfolio composition from 0% to -12%. BOND_High_Yeld_GL Stable and aligned DownTrend about -0,3% in weekly progression. Take a Short Position with a Tactical Adjustment on portfolio composition from 21% to -23%. © MarkeTiming Research (ALL RIGHTS REDERVED) MarkeTiming Selection for the week of 13/7/2020 This Report is a rappresentative study of markets stance and does not constitute an investment advisory service. MARKET SELECTION weekly outlook TREND STABILITY PRIMARY TREND trend evolution VOLATILITY STANCE range evolution VOLATILITY DINAMIC volatility evolution TIMING RESISTENCE SUPPORT POWER Stability Trend Return Risk Dynamic Timing Power LONG TERM MEDIUM TERM SHORT TERM 26/giu 03/lug 10/lug 26/giu 03/lug 10/lug 26/giu 03/lug 10/lug 10/lug 10/lug 10/lug Stocks FTSE_MIB_(ITALY) 9% -10% -4,8% 11,1% 1,6% 4,7% -2,5% 3,1% 0,2% 9,8% -4,1% 4,4% -4,1% 5,0% -1,1% 2,4% -14,6% CAC_40_(FRANCE) -34% -5,2% 9,0% 0,9% 2,7% -1,4% 2,0% -0,7% 8,6% -5,0% 4,4% -4,7% * 1,0% 5,1% 5,1% -9,8% -33,0% DAX_(GERMANY) 15% 11% 3,8% 14,3% 1,9% 5,7% -2,0% 3,6% 0,8% 10,0% -3,6% 4,9% -3,4% 5,2% -0,7% -2,0% 0,7% FTSE_100_(UK) -7,8% 4,5% -0,4% * -0,2% -2,0% -0,1% -1,0% * -5,7% * -4,5% 2,2% -4,2% 8,4% 15,4% 21,5% 10,4% 0,3% Dow_ Jones_Ind_Av_(USA) -11% 2% -1,0% 7,7% 0,5% 1,8% -3,3% * 3,2% 1,0% 6,8% -5,2% * 4,3% 3,0% -10,5% -24,8% -1,8% -16,4% * 1,8% Nasdaq_100_(USA) 33% 23% 52% 8% 21,2% * 18,3% * 4,2% 12,1% -1,6% 5,0% 4,8% 13,1% -4,6% 6,7% 3,3% -5,2% -18,6% 8,3% Nikkei_225_(JAPAN) 11% 20% -1% 2,9% 10,4% 0,7% -0,1% 0,1% -1,0% * 0,0% 5,4% 2,3% 2,1% -2,0% -9,3% -56,3% * -21,2% 30,1% -1,4% Hang_Seng_(HONG KONG) 11% 11% 15% 1,3% 8,3% 4,8% 5,9% -0,4% 3,4% 1,4% 12,3% 2,7% 5,2% 4,7% 4,2% -5,9% -3,7% 22,3% 0,0% Shanghai_Comp_(CHINA) 30% 30% 48% 44% 51% 14,7% 16,2% 9,2% * 15,9% * 0,4% 5,8% * 7,3% * 18,3% * 1,1% 6,6% 7,9% * 44,6% * 37,0% * 65,3% * 15,3% 34,5% BSE_Sensex_(INDIA) 16% -0,4% 13,3% 3,7% 8,3% 1,3% * 2,4% 1,6% 11,0% 3,4% 4,1% 1,6% -8,2% -27,1% 9,8% -10,1% RTSI_(RUSSIA) 4% -6,1% 8,9% -0,1% 0,6% -0,2% -0,9% 0,8% 6,9% -3,8% -3,2% * -3,5% -18,7% * -45,2% -36,3% * 3,4% 3,8% Ibovespa_(BRAZIL) -25,4% * -14,6% * 1,5% -1,7% * 0,0% 0,1% 3,0% 14,2% 13,6% * 12,6% * 4,7% 21,3% 20,4% * Currency & Comodity EUR/USD 17% 33% 2,2% 2,3% 0,3% 0,4% * 0,3% 0,3% 0,5% 1,8% 1,6% 0,7% 1,1% -3,8% 15,5% -78,5% 25,4% Gold 67% 20% 46% 12% 12,2% * 5,8% 1,5% 3,7% 1,7% 0,2% 0,8% 6,9% 2,3% 2,3% 2,8% -2,8% 10,7% -48,3% 7,9% 4,9% Crude_Oil_WTI 60% 54% 67% -7,8% 36,7% * 2,3% 11,2% * -3,6% 5,4% 0,5% 18,1% -11,2% 8,0% 6,2% -5,7% -27,2% 7,6% -0,6% 26,6% Natural_Gas 21% 31% -9,5% * 3,0% 6,8% * 3,8% -7,6% 12,9% 3,7% 23,1% -15,8% 11,3% 10,0% 5,3% -36,8% 46,5% 23,8% 2,3% Agricolture 16% -37% -20% 2,4% 2,2% * 0,1% * 1,1% 0,3% 0,0% -0,3% 2,2% 1,2% 1,2% -0,9% -6,5% 6,4% -12,9% -28,7% -8,1% Bond BGOV_ITA_BTP 17% 27% 51% 0,8% 2,5% 0,5% 1,6% 0,4% 0,1% 0,3% 1,8% 1,4% 0,7% 0,4% 19,2% 110,4% -28,5% -0,3% 5,6% BGOV_GERM_BUND 37% 0,3% 0,0% 0,1% 0,6% 0,5% -0,5% 0,5% 1,2% 0,8% -0,9% 0,9% 18,8% 48,3% 5,7% -6,5% 0,0% 56,6% BGOV_UK_GILT 21% -15% 3,6% * 0,6% 0,2% 0,0% 0,9% -0,3% 0,6% -2,2% 1,7% -1,3% 1,1% -3,9% 15,7% 22,3% -10,3% BGOV_USA_Treasury 19% 32% 3,6% 0,3% 0,2% 0,5% 0,4% 0,1% 0,0% 1,4% 0,7% 0,6% 0,9% 14,8% 11,5% 25,2% 6,1% 11,0% 37,5% BGOV_Emerg_Mrkt_Loc 32% -3,9% 2,6% -0,2% * -0,4% * -0,6% 0,6% -0,1% -2,2% -1,6% 1,6% -1,3% 0,0% -8,7% 2,8% -6,1% 48,7% BOND_Corp_Europa 14% -11% 0,2% 2,5% 0,3% 0,4% -0,2% 0,5% 0,2% 1,2% -0,5% 0,8% 0,5% 7,0% 11,2% 12,5% -7,8% BOND_Corp_Usa 30% 52% 49% 2,9% 2,9% 0,7% 3,1% * -0,3% 0,9% 0,4% 3,6% -2,0% 1,9% 1,8% 3,9% -25,0% 10,8% -5,7% BOND_Corp_Emerg -17% -6,9% 3,2% * 0,0% 0,6% -1,7% 0,4% -0,3% 3,0% -2,1% 2,2% -1,1% -11,4% -13,6% -6,6% -11,9% BOND_High_Yeld_GL 22% -56% -7,2% * -1,2% * 1,6% * 1,3% -2,3% 3,9% 0,0% 6,4% -2,6% 6,4% -1,9% -11,5% -11,0% -0,1% -38,9% -1,9% © MarkeTiming Research (ALL RIGHTS REDERVED) MarkeTiming Selection for the week of 13/7/2020 Stocks FTSE_MIB_(ITALY) Unstable UpTrend about 4,6% in weekly progression. Bearish suppot under 19394. Increasing Volatility stance in a range of -4,1% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from -4% to 8%. CAC_40_(FRANCE) Unstable UpTrend DAX_(GERMANY) Stable UpTrend about 5,7% in weekly progression. Bearish suppot under 12416. Increasing Volatility stance in a range of -3,3% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 3% to 13%. FTSE_100_(UK) Unstable DownTrend about -0,1% in weekly progression. Dow_ Jones_Ind_Av_(USA) Unstable UpTrend about 1,8% in weekly progression. Bullish resistence over 26297. Increasing Volatility stance in a range of 2,9% (risk weight). Nasdaq_100_(USA) Stable and aligned UpTrend about 12,1% in weekly progression. Bullish resistence over 10842. Increasing Volatility stance in a range of 3,3% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 20% to 35%. Nikkei_225_(JAPAN) Unstable DownTrend about 0% in weekly progression. Bearish suppot under 22285. Increasing Volatility stance in a range of -2% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from -5% to 10%. Hang_Seng_(HONG KONG) Stable UpTrend about 5,8% in weekly progression. Bearish suppot under 25543. Increasing Volatility stance in a range of 4,6% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 5% to 10%. Shanghai_Comp_(CHINA) Stable UpTrend about 15,8% in weekly progression. Bullish resistence over 3456. Increasing Volatility stance in a range of 7,8% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 41% to 36%. BSE_Sensex_(INDIA) Unstable UpTrend about 8,3% in weekly progression. Bearish suppot under 36234. Reducing Volatility stance in a range of 1,6% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 10% to 15%. RTSI_(RUSSIA) Unstable UpTrend about 0,6% in weekly progression. Ibovespa_(BRAZIL) Stable and aligned DownTrend about -1,7% in weekly mitigation. Currency & Comodity EUR/USD Stable UpTrend about 0,3% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from 0% to 16%. Gold Stable and aligned UpTrend about 3,6% in weekly progression. Bearish suppot under 1779. Increasing Volatility stance in a range of 2,7% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 77% to 44%. Crude_Oil_WTI Unstable UpTrend about 11,2% in weekly progression. Bearish suppot under 38. Increasing Volatility stance in a range of 6,1% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from 20% to 56%. Natural_Gas Unstable UpTrend about 3,8% in weekly progression. Bullish resistence over 1. Increasing Volatility stance in a range of 9,9% (risk weight). Take a Long Position with a Tactical Adjustment on portfolio composition from -27% to 20%. Agricolture Stable and aligned UpTrend Take a Long Position with a Tactical Adjustment on portfolio composition from 19% to 16%. Bond BGOV_ITA_BTP Stable UpTrend about 1,6% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from 14% to 31%. BGOV_GERM_BUND Unstable UpTrend about 0,6% in weekly progression. BGOV_UK_GILT Take a Long Position with a Tactical Adjustment on portfolio composition from 13% to 20%. BGOV_USA_Treasury Stable and aligned UpTrend Take a Long Position with a Tactical Adjustment on portfolio composition from 48% to 18%. BGOV_Emerg_Mrkt_Loc Unstable DownTrend about -0,4% in weekly progression. BOND_Corp_Europa Stable UpTrend about 0,4% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from 0% to 13%. BOND_Corp_Usa Stable UpTrend about 3% in weekly progression. Take a Long Position with a Tactical Adjustment on portfolio composition from 29% to 43%. BOND_Corp_Emerg Unstable UpTrend BOND_High_Yeld_GL Unstable UpTrend Take a Long Position with a Tactical Adjustment on portfolio composition from 9% to 21%. © MarkeTiming Research (ALL RIGHTS REDERVED) MarkeTiming Selection for the week of 6/7/2020 This Report is a rappresentative study of markets stance and does not constitute an investment advisory service. MARKET SELECTION weekly outlook TREND STABILITY PRIMARY TREND trend evolution VOLATILITY STANCE range evolution VOLATILITY DINAMIC volatility evolution TIMING RESISTENCE SUPPORT POWER Stability Trend Return Risk Dynamic Timing Power LONG TERM MEDIUM TERM SHORT TERM 19/giu 26/giu 03/lug 19/giu 26/giu 03/lug 19/giu 26/giu 03/lug 03/lug 03/lug 03/lug Stocks FTSE_MIB_(ITALY) -5% -6,7% 8,6% 0,2% -2,3% 3,9% * -2,5% 3,1% -10,6% * 7,8% -4,1% 4,4% 13,1% 24,7% -1,1% 2,4% CAC_40_(FRANCE) -8% -6,3% 7,7% 0,1% -3,7% 2,9% -1,4% 2,0% -10,4% 7,0% -5,0% 4,4% 2,1% 2,4% 5,1% 5,1% 4,3% DAX_(GERMANY) 13% -5% 1,8% 12,5% 0,4% -2,5% 3,2% -2,0% 3,6% -10,6% 7,3% -3,6% 4,9% 8,4% 18,5% -0,7% -2,0% FTSE_100_(UK) -11% 24% -7,9% 4,4% -0,4% -5,0% * 3,1% -2,0% -0,1% -8,9% 5,4% -4,5% 2,2% 17,0% -2,8% 15,4% 21,5% * Dow_ Jones_Ind_Av_(USA) -10% -1,9% 6,7% -0,9% -4,6% 1,0% -3,3% * 3,2% -10,4% 6,7% -5,2% * 4,3% -24,6% * 12,7% -24,8% -1,8% 11,1% Nasdaq_100_(USA) 29% 12% 30% 16,9% * 14,5% * 1,7% 5,5% 3,6% -1,6% 5,0% 9,3% 6,3% -4,6% 6,7% -18,2% 8,3% -18,6% 13,2% 52,1% Nikkei_225_(JAPAN) -5% -24% 1,6% 9,4% -1,0% -2,5% 0,8% 0,1% -1,0% * -7,3% 4,9% 2,3% 2,1% -17,6% -13,3% -56,3% * -21,2% Hang_Seng_(HONG KONG) 5% 20% -4,3% 2,2% 0,3% 2,4% 1,4% -0,4% 3,4% 7,1% 3,2% 2,7% 5,2% -3,8% 1,3% -5,9% -3,7% 42,2% Shanghai_Comp_(CHINA) 9% 16% 100% 30% 3,6% 5,2% 1,9% 7,6% * 1,6% 0,4% 5,8% * 9,4% 2,8% * 1,1% 6,6% 28,7% 40,9% * 64,1% BSE_Sensex_(INDIA) 11% 11% -3,8% 9,4% 2,3% * 5,1% 2,8% 1,3% * 2,4% 10,8% 5,6% 3,4% 4,1% -5,8% -19,7% * -27,1% 9,8% RTSI_(RUSSIA) -9% -41% -6,8% 7,9% -1,1% -3,9% 0,9% -0,2% -0,9% -8,7% 5,4% -3,8% -3,2% * -20,9% -1,0% -45,2% -36,3% * -4,4% Ibovespa_(BRAZIL) -48% -3% 20% -29,6% * -19,9% * -4,7% * -1,2% -4,6% * 0,0% 0,1% 21,2% * 13,9% * 13,6% * 12,6% * 37,6% * 23,4% 20,4% * 43,9% Currency & Comodity EUR/USD -45% 1,8% 1,9% -0,2% * -0,4% -0,7% 0,3% 0,3% -2,2% -1,6% 1,6% 0,7% -20,1% -9,7% 15,5% -78,5% Gold 80% 52% 100% -28% 11,7% * 5,4% 1,7% 5,9% * 0,9% 1,7% 0,2% 7,2% 3,1% 2,3% 2,3% -8,8% 1,4% 10,7% -48,3% 2,1% Crude_Oil_WTI 21% 9% -9,9% 33,3% * 2,4% * 2,3% 8,8% -3,6% 5,4% 18,3% 15,8% -11,2% 8,0% -12,6% 9,1% -27,2% 7,6% 6,3% Natural_Gas -27% 27% 84% -15,7% * -3,2% * 0,8% -3,1% * -4,0% -7,6% 12,9% -18,1% -9,6% -15,8% 11,3% 3,4% -6,5% -36,8% 46,5% 3,4% 57,1% Agricolture 20% 7% 2,6% 2,0% 0,2% 0,1% 1,1% 0,3% 0,0% -4,2% 1,9% 1,2% 1,2% -0,5% 2,8% 6,4% -12,9% 5,2% Bond BGOV_ITA_BTP 24% 6% -29% -5% 0,4% 2,1% 0,6% 0,8% 0,8% 0,4% 0,1% 2,4% 0,7% 1,4% 0,7% 24,0% 110,4% -28,5% -7,7% BGOV_GERM_BUND 12% 0,2% -0,2% 0,3% 1,6% 0,1% 0,5% -0,5% 1,9% -0,6% 0,8% -0,9% 23,4% 16,4% 48,3% 5,7% 5,2% BGOV_UK_GILT 14% 22% 3,4% 0,4% 0,0% 1,8% -1,2% 0,9% -0,3% 3,3% -2,2% 1,7% -1,3% 0,1% -43,2% 15,7% 22,3% 2,4% BGOV_USA_Treasury 33% 14% 100% 25% 3,7% * 0,3% 0,3% 1,8% 0,0% 0,4% 0,1% 1,9% -0,9% 0,7% 0,6% 15,8% 7,4% 11,5% 25,2% BGOV_Emerg_Mrkt_Loc -12% -3,9% 2,5% * -0,3% -1,6% -0,3% -0,6% 0,6% -3,3% 1,6% -1,6% 1,6% -4,9% 32,7% -8,7% 2,8% BOND_Corp_Europa 13% 34% -0,1% 2,1% 0,1% -0,5% -0,1% -0,2% 0,5% -1,5% 1,2% -0,5% 0,8% 23,8% 11,2% 12,5% 5,3% 41,5% BOND_Corp_Usa 44% 15% 11% 2,5% 2,5% 0,9% * 2,0% * 2,1% -0,3% 0,9% 3,9% 2,3% -2,0% 1,9% -3,5% 47,7% -25,0% 10,8% BOND_Corp_Emerg -17% -7,6% 2,4% -0,5% * -2,3% * 2,2% -1,7% 0,4% -4,7% 3,0% -2,1% 2,2% -10,0% -13,6% -6,6% -2,1% BOND_High_Yeld_GL 10% 61% -8,5% * -2,9% * 0,8% 1,3% -0,3% -2,3% 3,9% 6,4% 1,3% -2,6% 6,4% -13,0% -21,4% -11,0% -0,1% 10,2% 75,0% © MarkeTiming Research (ALL RIGHTS REDERVED) MarkeTiming Selection for the week of 6/7/2020 Stocks FTSE_MIB_(ITALY) Unstable DownTrend about -2,2% in weekly mitigation. Tactical Adjustment of the week: modify portfolio quote from 11% to -4%. CAC_40_(FRANCE) Unstable DownTrend about -3,6% in weekly mitigation. Tactical Adjustment of the week: modify portfolio quote from 10% to -7%. DAX_(GERMANY) Unstable DownTrend about -2,4% in weekly mitigation. Tactical Adjustment of the week: modify portfolio quote from 9% to 3%. FTSE_100_(UK) Unstable DownTrend about -5% in weekly progression. Bearish suppot under 6121. Reducing Volatility stance in a range of 2,1% (risk weight). Tactical Adjustment of the week: modify portfolio quote from 0% to -10%. Dow_ Jones_Ind_Av_(USA) Unstable DownTrend about -4,5% in weekly mitigation. Tactical Adjustment of the week: modify portfolio quote from 0% to -9%. Nasdaq_100_(USA) Stable and aligned UpTrend about 5,4% in weekly progression. Bullish resistence over 10432. Increasing Volatility stance in a range of 6,7% (risk weight). Tactical Adjustment of the week: modify portfolio quote from 33% to 20%. Nikkei_225_(JAPAN) Unstable DownTrend about -2,4% in weekly progression. Bullish resistence over 22448. Increasing Volatility stance in a range of 2,1% (risk weight). Tactical Adjustment of the week: modify portfolio quote from 0% to -5%. Hang_Seng_(HONG KONG) Unstable UpTrend about 2,4% in weekly progression. Tactical Adjustment of the week: modify portfolio quote from 15% to 5%. Shanghai_Comp_(CHINA) Stable UpTrend about 7,5% in weekly progression. Bullish resistence over 3152. Increasing Volatility stance in a range of 6,5% (risk weight). Tactical Adjustment of the week: modify portfolio quote from 38% to 41%. BSE_Sensex_(INDIA) Unstable UpTrend about 5% in weekly progression. Bullish resistence over 36110. Increasing Volatility stance in a range of 4% (risk weight). Tactical Adjustment of the week: modify portfolio quote from 19% to 10%. RTSI_(RUSSIA) Unstable DownTrend about -3,9% in weekly progression. Bearish suppot under 1212. Increasing Volatility stance in a range of -3,1% (risk weight). Tactical Adjustment of the week: modify portfolio quote from 0% to -8%. Ibovespa_(BRAZIL) Stable and aligned DownTrend about -1,1% in weekly mitigation. Tactical Adjustment of the week: modify portfolio quote from -18% to -25%. Currency & Comodity EUR/USD Unstable DownTrend about -0,4% in weekly mitigation. Tactical Adjustment of the week: modify portfolio quote from 18% to 0%. Gold Stable and aligned UpTrend about 5,8% in weekly progression. Bearish suppot under 1766. Increasing Volatility stance in a range of 2,2% (risk weight). Tactical Adjustment of the week: modify portfolio quote from 23% to 77%. Crude_Oil_WTI Unstable UpTrend about 2,3% in weekly progression. Tactical Adjustment of the week: modify portfolio quote from 26% to 20%. Natural_Gas Stable and aligned DownTrend about -3,1% in weekly mitigation. Tactical Adjustment of the week: modify portfolio quote from -52% to -27%. Agricolture Stable and aligned UpTrend about 0,1% in weekly progression. Tactical Adjustment of the week: modify portfolio quote from 0% to 19%. Bond BGOV_ITA_BTP Stable UpTrend about 0,7% in weekly progression. Tactical Adjustment of the week: modify portfolio quote from 20% to 14%. BGOV_GERM_BUND Unstable UpTrend Tactical Adjustment of the week: modify portfolio quote from 7% to 12%. BGOV_UK_GILT Stable and aligned UpTrend Tactical Adjustment of the week: modify portfolio quote from 2% to 13%. BGOV_USA_Treasury Stable and aligned UpTrend about 1,8% in weekly progression. Tactical Adjustment of the week: modify portfolio quote from 14% to 48%. BGOV_Emerg_Mrkt_Loc Unstable DownTrend about -1,6% in weekly mitigation. Tactical Adjustment of the week: modify portfolio quote from -11% to -12%. BOND_Corp_Europa Unstable DownTrend about -0,5% in weekly mitigation. Tactical Adjustment of the week: modify portfolio quote from 22% to 0%. BOND_Corp_Usa Stable and aligned UpTrend about 1,9% in weekly progression. Tactical Adjustment of the week: modify portfolio quote from 9% to 29%. BOND_Corp_Emerg Unstable DownTrend about -2,2% in weekly mitigation. Tactical Adjustment of the week: modify portfolio quote from 6% to -17%. BOND_High_Yeld_GL Unstable UpTrend about 1,2% in weekly progression. Tactical Adjustment of the week: modify portfolio quote from -37% to 9%. © MarkeTiming Research (ALL RIGHTS REDERVED) MarkeTiming Selection for the week of 29/6/2020 This Report is a rappresentative study of markets stance and does not constitute an investment advisory service. MARKET SELECTION weekly outlook TREND STABILITY PRIMARY TREND trend evolution VOLATILITY STANCE range evolution VOLATILITY DINAMIC volatility evolution TIMING RESISTENCE SUPPORT POWER Stability Trend Return Risk Dynamic Timing Power LONG TERM MEDIUM TERM SHORT TERM 12/giu 19/giu 26/giu 12/giu 19/giu 26/giu 12/giu 19/giu 26/giu 26/giu 26/giu 26/giu Stocks FTSE_MIB_(ITALY) 12% -7,6% 6,7% -0,5% 5,1% -6,4% 3,9% * -2,5% 11,0% -9,2% 7,8% -4,1% 18,2% 25,9% 24,7% -1,1% CAC_40_(FRANCE) 10% -5% -7,0% 6,4% -0,5% 4,6% -6,9% 2,9% -1,4% 10,4% -8,9% 7,0% -5,0% 10,8% -2,9% 2,4% 5,1% -3,2% DAX_(GERMANY) 10% 0,8% 11,3% -0,6% 4,3% -7,0% * 3,2% -2,0% 10,8% -8,5% 7,3% -3,6% 12,8% 11,4% 18,5% -0,7% FTSE_100_(UK) -7,8% 4,2% -0,6% 1,4% -5,8% 3,1% -2,0% 8,9% -8,0% 5,4% -4,5% 17,9% 74,9% * -2,8% 15,4% Dow_ Jones_Ind_Av_(USA) -13% -4% -2,1% 6,3% -1,5% -1,6% * -5,4% 1,0% -3,3% * -10,4% * -9,3% * 6,7% -5,2% * -15,5% -56,9% * 12,7% -24,8% -2,2% Nasdaq_100_(USA) 34% -10% -4% 16,5% * 14,3% * 1,9% 3,0% -1,5% 3,6% -1,6% 8,2% -6,6% 6,3% -4,6% -13,8% -30,8% 8,3% -18,6% -2,4% Nikkei_225_(JAPAN) -29% 2,7% 10,5% -0,4% 2,9% -2,4% 0,8% 0,1% 7,3% -6,1% 4,9% 2,3% -16,9% 0,8% -13,3% -56,3% * Hang_Seng_(HONG KONG) 16% -4,3% 1,9% 0,9% 6,9% -1,9% 1,4% -0,4% 7,1% -2,5% 3,2% 2,7% 10,2% -8,2% 1,3% -5,9% Shanghai_Comp_(CHINA) 6% 10% 100% 1,7% 3,5% 1,1% 4,5% -0,4% 1,6% 0,4% 3,8% -2,9% 2,8% * 1,1% 24,3% 10,7% 40,9% * BSE_Sensex_(INDIA) 19% -14% -4,8% 7,6% 2,5% * 8,5% -1,5% 2,8% 1,3% * 9,7% -7,5% 5,6% 3,4% -7,7% -4,9% -19,7% * -27,1% RTSI_(RUSSIA) -24% -5,1% 9,2% 0,0% 2,2% -3,7% 0,9% -0,2% 8,6% -5,4% 5,4% -3,8% -21,9% * -9,1% -1,0% -45,2% Ibovespa_(BRAZIL) -60% 23% 11% 87% -30,7% * -22,2% * -5,7% * 9,9% * 3,5% * -4,6% * 0,0% 22,8% * 19,9% * 13,9% * 13,6% * 43,8% * 68,9% 23,4% 20,4% * 12,3% 40,3% Currency & Comodity EUR/USD 18% 19% -39% 1,9% 2,1% -0,2% 1,1% -0,3% -0,7% 0,3% 2,8% -1,8% -1,6% 1,6% 7,9% -8,4% -9,7% 15,5% -40,2% Gold 38% 11% 21% 11,3% * 5,1% 2,0% 3,1% 3,0% 0,9% 1,7% 7,1% 4,3% 3,1% 2,3% -13,1% 1,4% 10,7% Crude_Oil_WTI 32% 22% -34% -11,9% 29,7% * 3,2% * 8,8% * -7,5% 8,8% -3,6% 18,8% -15,2% 15,8% -11,2% -9,3% -16,8% 9,1% -27,2% 0,5% Natural_Gas -62% -57% -39% -46% -61% -19,3% * -6,5% * -3,7% * -15,8% * -3,3% -4,0% -7,6% -19,4% -8,7% -9,6% -15,8% -8,8% 18,2% -6,5% -36,8% -2,0% -60,9% Agricolture 2,4% 1,9% -0,2% -0,3% -1,3% 1,1% 0,3% -4,1% -4,1% 1,9% 1,2% 2,0% -1,3% 2,8% 6,4% 4,0% Bond BGOV_ITA_BTP 8% 17% 35% 12% 0,1% 1,8% 0,7% * 1,2% * -0,5% 0,8% 0,4% 2,4% -1,3% 0,7% 1,4% 50,6% 16,5% 25,6% BGOV_GERM_BUND 7% 40% 0,2% -0,2% 0,5% 0,5% 1,5% 0,1% 0,5% 2,1% 1,3% -0,6% 0,8% 15,9% 26,6% 16,4% 48,3% BGOV_UK_GILT 14% -9% 13% 2% 3,5% 0,6% 0,2% -0,6% 2,5% -1,2% 0,9% -3,3% 3,0% -2,2% 1,7% -21,3% 5,7% -43,2% 15,7% 5,0% BGOV_USA_Treasury 14% 10% 3,7% * 0,3% 0,4% 0,1% 1,2% 0,0% 0,4% 2,1% 1,6% -0,9% 0,7% 2,1% 11,8% 7,4% 11,5% BGOV_Emerg_Mrkt_Loc -12% -7% -22% -3,8% 2,4% * -0,5% -0,8% -1,3% -0,3% -0,6% -3,5% -2,9% 1,6% -1,6% -1,0% -18,9% 32,7% -8,7% -46,6% BOND_Corp_Europa 14% 30% -0,4% 1,8% 0,0% 1,0% -0,8% -0,1% -0,2% 2,3% -1,5% 1,2% -0,5% 49,9% 95,3% BOND_Corp_Usa 12% 7% -21% 21% 1,8% 1,6% 0,4% 0,5% -0,7% 2,1% -0,3% 3,2% -2,7% 2,3% -2,0% -22,7% -22,9% 47,7% -25,0% 45,1% BOND_Corp_Emerg 6% -3% -7,6% 1,7% -0,5% 0,4% -3,1% 2,2% -1,7% -4,6% -4,6% 3,0% -2,1% 1,7% -7,3% -6,2% BOND_High_Yeld_GL -52% -28% -34% -9% -39% -10,2% * -5,1% * -0,7% * -1,9% * 0,0% -0,3% -2,3% -3,9% -2,6% 1,3% -2,6% -19,2% -27,3% -21,4% -11,0% -15,4% -66,7% © MarkeTiming Research (ALL RIGHTS REDERVED) MarkeTiming Selection for the week of 29/6/2020 Stocks Tactical Adjustment FTSE_MIB_(ITALY) -4% Not stable primary Trend. CAC_40_(FRANCE) -4% Not stable primary Trend. DAX_(GERMANY) -4% Not stable primary Trend. UpTrend in stability mitigation. FTSE_100_(UK) Not stable primary Trend. Dow_ Jones_Ind_Av_(USA) Not stable primary Trend. Nasdaq_100_(USA) 1% Stable Up Trend but without relevant performance. Nikkei_225_(JAPAN) -12% Not stable primary Trend. UpTrend in stability mitigation. Trend in bearish acceleration if goes under 22165 with increasing volatility stance in a range of 2,3% (risk weight). Hang_Seng_(HONG KONG) 16% Not stable primary Trend. Shanghai_Comp_(CHINA) 22% Almost stable primary UpTrend about 4,4%. Trend in bearish acceleration if goes under 2949 with increasing volatility stance in a range of 1,1% (risk weight). BSE_Sensex_(INDIA) -24% Not stable primary Trend. Trend in bearish acceleration if goes under 34499 with increasing volatility stance in a range of 3,4% (risk weight). RTSI_(RUSSIA) Not stable primary Trend. Ibovespa_(BRAZIL) 28% Stably aligned primary DownTrend about 9,8%. Currency & Comodity EUR/USD 0% Not stable primary Trend. UpTrend in stability mitigation. Trend in bullish acceleration if goes over 1 with increasing volatility stance in a range of 1,5% (risk weight). Gold 14% Stably aligned primary UpTrend about 3,1%. Trend in bullish acceleration if goes over 1796 with increasing volatility stance in a range of 2,3% (risk weight). Crude_Oil_WTI -57% Not stable primary Trend. Natural_Gas -26% Stably aligned primary DownTrend about -15,7%. Trend in bullish acceleration if goes over 1 with increasing volatility stance in a range of -15,8% (risk weight). Agricolture 6% Not stable primary Trend. UpTrend in stability mitigation. Bond BGOV_ITA_BTP -18% Almost stable primary UpTrend about 1,2%. Trend in bullish acceleration with increasing volatility stance in a range of 1,3% (risk weight). BGOV_GERM_BUND 12% Not stable primary Trend. Trend in bullish acceleration with increasing volatility stance in a range of 0,8% (risk weight). BGOV_UK_GILT 0% Stably aligned primary UpTrend about -0,5%. BGOV_USA_Treasury 2% Stable Up Trend but without relevant performance. BGOV_Emerg_Mrkt_Loc -12% Not stable primary Trend. Trend in bullish acceleration with increasing volatility stance in a range of -1,6% (risk weight). BOND_Corp_Europa 12% Not stable primary Trend. BOND_Corp_Usa 8% Almost stable primary UpTrend about 0,4%. BOND_Corp_Emerg -20% Not stable primary Trend. BOND_High_Yeld_GL -18% Stably aligned primary DownTrend about -1,9%. © MarkeTiming Research (ALL RIGHTS REDERVED) MarkeTiming Selection for the week of 22/6/2020 This Report is a rappresentative study of markets stance and does not constitute an investment advisory service. MARKET SELECTION weekly outlook TREND STABILITY PRIMARY TREND trend evolution VOLATILITY STANCE range evolution VOLATILITY DINAMIC volatility evolution TIMING RESISTENCE SUPPORT POWER Stability Trend Return Risk Dynamic Timing Power LONG TERM MEDIUM TERM SHORT TERM 05/giu 12/giu 19/giu 05/giu 12/giu 19/giu 05/giu 12/giu 19/giu 19/giu 19/giu 19/giu Stocks FTSE_MIB_(ITALY) 16% 16% 20% -8,7% 3,9% 0,5% 13,3% * 10,9% -6,4% 3,9% * 16,1% * 10,0% -9,2% 7,8% 22,3% 19,5% 25,9% 24,7% 1,1% 42,5% CAC_40_(FRANCE) 14% 21% -7,5% 4,8% 0,6% 12,0% 10,7% -6,9% 2,9% 15,4% 9,5% -8,9% 7,0% 14,0% 32,9% -2,9% 2,4% 12,0% 34,4% DAX_(GERMANY) 14% 12% 20% -0,3% 9,3% -0,3% 11,4% 10,9% -7,0% * 3,2% 14,7% 10,6% -8,5% 7,3% 15,5% 16,3% 11,4% 18,5% 5,3% 37,3% FTSE_100_(UK) -9,2% 1,9% -1,3% 5,0% 6,7% -5,8% 3,1% 9,9% 6,5% -8,0% 5,4% 18,6% 21,1% 74,9% * -2,8% 4,5% Dow_ Jones_Ind_Av_(USA) 8% -1,2% 6,6% 0,0% 5,7% 6,5% -5,4% 1,0% 12,5% 8,0% -9,3% * 6,7% 1,2% 16,6% -56,9% * 12,7% -2,7% Nasdaq_100_(USA) 33% 24% 15,4% * 12,9% * 1,9% * 6,3% 2,5% * -1,5% 3,6% 9,9% 3,4% -6,6% 6,3% -2,6% 10,1% -30,8% 8,3% 0,5% 50,5% Nikkei_225_(JAPAN) 12% -9% 2,0% 9,3% 0,0% 10,3% 4,5% -2,4% 0,8% 11,6% 4,4% -6,1% 4,9% 0,8% -18,1% 0,8% -13,3% -5,8% Hang_Seng_(HONG KONG) -6,6% -0,9% 0,3% 7,5% 7,9% -1,9% 1,4% 11,5% 5,2% -2,5% 3,2% 22,0% 121,7% * -8,2% 1,3% 8,4% Shanghai_Comp_(CHINA) 3% 48% 27% 15% 0,2% 1,9% 0,7% 5,5% 2,8% -0,4% 1,6% 5,9% 2,4% * -2,9% 2,8% * 22,6% 48,4% 10,7% 40,9% * -1,5% 34,7% BSE_Sensex_(INDIA) 16% 52% -13% -8,4% 2,6% 1,3% 13,2% 5,7% -1,5% 2,8% 13,2% 4,7% -7,5% 5,6% 3,1% 2,3% -4,9% -19,7% * -4,1% RTSI_(RUSSIA) -7,2% 5,6% -1,1% 5,1% 5,4% -3,7% 0,9% 8,7% 5,3% -5,4% 5,4% -13,9% * -57,7% * -9,1% -1,0% Ibovespa_(BRAZIL) -64% -28% 15% -30,9% * -23,6% * -5,0% * -23,6% * 11,3% * 3,5% * -4,6% * -48,8% * 14,8% * 19,9% * 13,9% * 46,5% * 62,5% 68,9% 23,4% 5,2% Currency & Comodity EUR/USD 9% 9% -39% 2,0% 2,3% 0,4% 2,6% 1,8% -0,3% -0,7% 4,9% 2,5% -1,8% -1,6% 11,7% 20,6% -8,4% -9,7% -1,0% Gold 25% 4% 47% 9,3% * 3,3% 0,6% 1,2% -2,5% 3,0% 0,9% 5,1% -5,1% 4,3% 3,1% -26,0% -46,4% 39,8% Crude_Oil_WTI 67% 100% 36% 53% -15,9% 21,9% * 3,1% * 18,7% * 12,1% -7,5% 8,8% 24,8% 14,2% -15,2% 15,8% 7,3% 30,3% -16,8% 9,1% 6,4% 37,8% Natural_Gas -66% -13% -26% -20,2% * -7,4% * -6,8% * -3,6% * -1,9% -3,3% -4,0% -20,9% -6,4% -8,7% -9,6% 4,3% -7,8% 18,2% -6,5% -9,9% Agricolture -6% 2,2% 1,5% -1,0% -1,8% -0,4% -1,3% 1,1% -4,2% -1,1% -4,1% 1,9% -10,9% 1,6% -1,3% 2,8% -0,8% Bond BGOV_ITA_BTP 16% 100% -0,7% 0,9% 0,3% 1,5% 0,5% -0,5% 0,8% 1,6% 1,2% -1,3% 0,7% 27,3% 33,4% 16,5% 0,1% BGOV_GERM_BUND -4% 10% -0,1% -0,5% 0,3% -0,4% -1,5% 1,5% 0,1% -2,1% -1,7% 1,3% -0,6% -8,2% -13,3% 26,6% 16,4% BGOV_UK_GILT 20% -14% -27% -34% 3,9% * 1,2% 0,4% -1,4% * -2,7% 2,5% -1,2% -3,5% -3,0% 3,0% -2,2% -22,2% -49,4% 5,7% -43,2% 2,3% -52,8% BGOV_USA_Treasury 15% -5% 3,6% 0,4% 0,1% -0,5% -1,5% 1,2% 0,0% -2,1% -1,7% 1,6% -0,9% 2,7% -12,4% 11,8% 7,4% 5,5% BGOV_Emerg_Mrkt_Loc 20% -4,1% 1,8% -0,8% * -0,1% 1,5% -1,3% -0,3% -3,4% 2,1% -2,9% 1,6% 1,2% 9,7% -18,9% 32,7% -1,2% BOND_Corp_Europa 20% -0,2% 1,8% * 0,5% * 1,9% 2,1% -0,8% -0,1% 3,0% 2,3% -1,5% 1,2% 49,1% 85,2% 95,3% BOND_Corp_Usa 12% -8% 30% 29% 1,8% 1,3% 0,1% -0,8% -0,5% -0,7% 2,1% -4,0% -2,1% -2,7% 2,3% -26,4% -56,3% -22,9% 47,7% -3,1% 46,6% BOND_Corp_Emerg 26% 32% -7,4% 1,2% 0,2% 2,5% * 3,2% -3,1% 2,2% 4,6% 2,7% -4,6% 3,0% 2,9% 23,8% -7,3% 6,3% 41,1% BOND_High_Yeld_GL -54% -7% -13% -4% -9,5% * -5,2% * -0,3% -0,6% 0,6% 0,0% -0,3% -2,6% 1,6% -2,6% 1,3% -42,5% -21,4% -27,3% -21,4% -6,6% © MarkeTiming Research (ALL RIGHTS REDERVED) MarkeTiming Selection for the week of 22/6/2020 Stocks Tactical Adjustment FTSE_MIB_(ITALY) 4% Not stable primary Trend.Trend in bullish acceleration if goes over 19815with increasing volatility stance in a range of 7,8% (risk weight). CAC_40_(FRANCE) -11% Not stable primary Trend.Trend in bearish acceleration if goes under 4691with increasing volatility stance in a range of 6,9% (risk weight). DAX_(GERMANY) -13% Not stable primary Trend.Trend in bullish acceleration if goes over 12483with increasing volatility stance in a range of 7,2% (risk weight). FTSE_100_(UK) Not stable primary Trend.Trend in bullish acceleration if goes over 6284with increasing volatility stance in a range of 5,3% (risk weight). Dow_ Jones_Ind_Av_(USA) -9% Not stable primary Trend.Trend in bearish acceleration if goes under 24843with increasing volatility stance in a range of 6,7% (risk weight). Nasdaq_100_(USA) 12% Stably aligned primary UpTrend about 6,3%.Trend in bullish acceleration if goes over 10121with increasing volatility stance in a range of 6,3% (risk weight). Nikkei_225_(JAPAN) -13% Not stable primary Trend.UpTrend in stability mitigation.Trend in bearish acceleration if goes under 21529with increasing volatility stance in a range of 4,8% (risk weight). Hang_Seng_(HONG KONG) Not stable primary Trend.DownTrend in stability mitigation.Trend in bearish acceleration if goes under 23684with increasing volatility stance in a range of 3,2% (risk weight). Shanghai_Comp_(CHINA) 24% Stable Up Trend but without relevant performance.Trend in bullish acceleration if goes over 2973with increasing volatility stance in a range of 2,8% (risk weight). BSE_Sensex_(INDIA) 29% Not stable primary Trend.Trend in bearish acceleration if goes under 32923with increasing volatility stance in a range of 5,6% (risk weight). RTSI_(RUSSIA) -19% Not stable primary Trend.Trend in bearish acceleration if goes under 1196with increasing volatility stance in a range of 5,4% (risk weight). Ibovespa_(BRAZIL) -17% Stably aligned primary DownTrend about -23,5%.Trend in bearish acceleration if goes under 14433with increasing volatility stance in a range of 13,9% (risk weight). Currency & Comodity EUR/USD -25% Almost stable primary UpTrend about 2,5%. Gold 15% Stably aligned primary UpTrend about 1,1%.Trend in bullish acceleration if goes over 1760with increasing volatility stance in a range of 3% (risk weight). Crude_Oil_WTI 23% Not stable primary Trend.Trend in bullish acceleration if goes over 40with increasing volatility stance in a range of 15,8% (risk weight). Natural_Gas -14% Stably aligned primary DownTrend about -3,6%. Agricolture -6% Not stable primary Trend.UpTrend in stability mitigation. Bond BGOV_ITA_BTP 0% Not stable primary Trend.Trend in bullish accelerationwith increasing volatility stance in a range of 0,7% (risk weight). BGOV_GERM_BUND 7% Not stable primary Trend.DownTrend in stability mitigation. BGOV_UK_GILT 3% Almost stable primary UpTrend about -1,3%.Trend in bullish accelerationwith increasing volatility stance in a range of -2,1% (risk weight). BGOV_USA_Treasury 7% Stably aligned primary UpTrend about -0,4%. BGOV_Emerg_Mrkt_Loc -18% Not stable primary Trend. BOND_Corp_Europa 3% Not stable primary Trend. BOND_Corp_Usa 7% Stably aligned primary UpTrend about -0,7%. BOND_Corp_Emerg 12% Not stable primary Trend.Trend in bullish accelerationwith increasing volatility stance in a range of 2,9% (risk weight). BOND_High_Yeld_GL 20% Stably aligned primary DownTrend about -0,6%.Trend in bullish accelerationwith increasing volatility stance in a range of 1,2% (risk weight). © MarkeTiming Research (ALL RIGHTS REDERVED) MarkeTiming Selection for the week of 15/6/2020 This Report is a rappresentative study of markets stance and does not constitute an investment advisory service. MARKET SELECTION weekly outlook TREND STABILITY PRIMARY TREND trend evolution VOLATILITY STANCE range evolution VOLATILITY DINAMIC volatility evolution TIMING RESISTENCE SUPPORT POWER Stability Trend Return Risk Dynamic Timing Power LONG TERM MEDIUM TERM SHORT TERM 29/mag 05/giu 12/giu 29/mag 05/giu 12/giu 29/mag 05/giu 12/giu 12/giu 12/giu 12/giu Stocks FTSE_MIB_(ITALY) 12% 10% -6,3% 5,3% 6,5% * 12,1% 5,1% 10,9% -6,4% 18,3% 6,0% 10,0% -9,2% 15,5% 19,3% 19,5% 25,9% 4,3% CAC_40_(FRANCE) 13% 24% -6,1% 5,3% 5,0% 13,1% 5,6% 10,7% -6,9% 17,8% 7,1% * 9,5% -8,9% 18,3% 19,8% 32,9% -2,9% -1,0% DAX_(GERMANY) 14% 14% 25% 3,2% 12,3% 5,7% 14,2% * 4,6% 10,9% -7,0% * 18,8% * 5,4% 10,6% -8,5% 11,6% 16,3% 11,4% -1,9% FTSE_100_(UK) 29% -26% -6,7% 3,9% 2,6% 5,3% 1,4% 6,7% -5,8% 11,4% 5,6% 6,5% -8,0% 21,6% 21,1% 74,9% * -9,4% -53,2% Dow_ Jones_Ind_Av_(USA) 9% 8% -22% -27% 1,1% 8,4% 4,0% 8,1% 3,9% 6,5% -5,4% 13,6% 5,8% 8,0% -9,3% * -0,6% 36,4% 16,6% -56,9% * -17,1% -46,2% Nasdaq_100_(USA) 21% -12% -18% 15,5% * 12,5% * 2,8% 5,6% 1,6% 2,5% * -1,5% 10,1% 4,1% 3,4% -6,6% -5,9% * 13,8% 10,1% -30,8% -7,2% -35,9% Nikkei_225_(JAPAN) 14% 11% 25% 5% 4,5% 11,5% 4,6% 11,3% 7,3% * 4,5% -2,4% 14,5% 6,4% 4,4% -6,1% 1,7% 29,3% -18,1% 0,8% 12,9% Hang_Seng_(HONG KONG) -4,2% 1,1% 3,5% 2,1% 0,1% 7,9% -1,9% 11,5% 4,1% 5,2% -2,5% 18,1% 44,8% * 121,7% * -8,2% Shanghai_Comp_(CHINA) 3% 6% 0,3% 2,1% 1,4% 1,8% 1,4% 2,8% -0,4% 5,3% 2,1% 2,4% * -2,9% 1,5% 18,3% 48,4% 10,7% 13,2% BSE_Sensex_(INDIA) 9% -8,0% 2,0% 4,6% 8,6% 5,7% 5,7% -1,5% 15,1% 6,3% 4,7% -7,5% -1,3% 31,3% 2,3% -4,9% 4,9% RTSI_(RUSSIA) 12% 26% -4,7% 7,2% 2,6% 11,8% 2,6% 5,4% -3,7% 14,6% 3,9% 5,3% -5,4% -0,9% -5,4% * -57,7% * -9,1% -3,3% Ibovespa_(BRAZIL) -39% -20% 27% 18% -28,0% * -21,6% * -7,2% * -19,9% * -30,5% * 11,3% * 3,5% * -45,1% * -49,6% * 14,8% * 19,9% * 32,9% * 62,5% 68,9% 42,5% Currency & Comodity EUR/USD 31% 12% 49% -19% 8% 2,7% 3,1% 1,7% 4,1% 1,8% 1,8% -0,3% 5,6% 2,5% 2,5% -1,8% 17,7% 27,1% 20,6% -8,4% 9,5% Gold 50% 9,0% * 3,2% 0,0% -0,9% -0,2% -2,5% 3,0% -5,9% -3,1% -5,1% 4,3% -38,6% -22,7% -46,4% 8,0% 53,4% Crude_Oil_WTI 69% 51% -39% -3% -16,6% * 19,4% * 7,2% * 22,6% * 5,2% 12,1% -7,5% 29,8% 13,3% 14,2% -15,2% 5,8% 23,2% 30,3% -16,8% -3,3% Natural_Gas -69% 18% 42% -14,8% -0,7% * -1,2% * 6,0% 5,8% -1,9% -3,3% -16,3% -11,2% -6,4% -8,7% 3,9% -1,9% -7,8% 18,2% -0,1% Agricolture -40% 2,9% 2,2% -0,6% -2,0% * -1,2% -0,4% -1,3% -4,2% -1,9% -1,1% -4,1% -13,9% -31,7% 1,6% -1,3% 3,1% -52,0% Bond BGOV_ITA_BTP 16% 100% 8% -1,0% 0,4% 0,4% 2,5% 0,7% 0,5% -0,5% 3,0% 1,2% 1,2% -1,3% 19,8% 28,2% 33,4% 16,5% 3,9% BGOV_GERM_BUND -13% -6% 13% 21% -0,8% -1,1% -0,5% -0,9% -0,5% -1,5% 1,5% -2,5% -1,0% -1,7% 1,3% -24,4% -40,2% -13,3% 26,6% 7,3% 50,8% BGOV_UK_GILT 28% 3,3% 0,7% -0,3% 0,2% 0,1% -2,7% 2,5% -3,5% -1,9% -3,0% 3,0% -12,5% 0,4% -49,4% 5,7% 5,9% 71,7% BGOV_USA_Treasury -4% 27% 3,5% * 0,4% -0,3% -0,7% -0,2% -1,5% 1,2% -2,1% -0,6% -1,7% 1,6% -4,4% 13,6% -12,4% 11,8% 11,7% 62,7% BGOV_Emerg_Mrkt_Loc 18% -9% -3,4% 2,0% * 0,2% 2,8% * 0,1% 1,5% -1,3% 5,0% -1,5% 2,1% -2,9% 3,4% -4,2% 9,7% -18,9% -8,4% BOND_Corp_Europa 17% 46% -0,4% 1,6% 1,0% * 2,6% 0,7% 2,1% -0,8% 3,7% 1,0% 2,3% -1,5% 36,5% -10,0% 85,2% 95,3% -8,3% BOND_Corp_Usa -11% -11% 1,0% 0,4% -0,9% * -1,8% -1,6% -0,5% -0,7% -4,0% -2,2% -2,1% -2,7% -26,4% -34,8% -56,3% -22,9% -6,3% BOND_Corp_Emerg 15% -23% -7,9% -0,1% 0,7% 2,3% 0,4% 3,2% -3,1% 5,8% -1,5% 2,7% -4,6% 5,1% -14,9% 23,8% -7,3% -10,2% -52,6% BOND_High_Yeld_GL -87% -14% -13% -9,4% * -5,7% * -0,4% -2,2% * -1,0% 0,6% 0,0% -3,8% -2,5% 1,6% -2,6% -39,1% -85,7% -21,4% -27,3% -11,5% © MarkeTiming Research (ALL RIGHTS REDERVED) MarkeTiming Selection for the week of 15/6/2020 Stocks FTSE_MIB_(ITALY) Not stable primary Trend. CAC_40_(FRANCE) Not stable primary Trend. DAX_(GERMANY) Almost stable primary UpTrend about 14,1%. FTSE_100_(UK) Not stable primary Trend. Dow_ Jones_Ind_Av_(USA) Almost stable primary UpTrend about 8,1%. Nasdaq_100_(USA) Stable Up Trend but without relevant performance. Nikkei_225_(JAPAN) Almost stable primary UpTrend about 11,3%. Hang_Seng_(HONG KONG) Not stable primary Trend. Shanghai_Comp_(CHINA) Stable Up Trend but without relevant performance. BSE_Sensex_(INDIA) Not stable primary Trend. RTSI_(RUSSIA) Not stable primary Trend. Ibovespa_(BRAZIL) Almost stable primary DownTrend about -19,8%. Currency & Comodity EUR/USD Almost stable primary UpTrend about 4%. Gold Not stable primary Trend. UpTrend in stability mitigation. Crude_Oil_WTI Not stable primary Trend. Natural_Gas Almost stable primary DownTrend about 5,9%. Agricolture Not stable primary Trend. UpTrend in stability mitigation. Trend in bullish acceleration with increasing volatility stance in a range of -4,1% (risk weight). Bond BGOV_ITA_BTP Not stable primary Trend. BGOV_GERM_BUND Almost stable primary DownTrend about -0,9%. BGOV_UK_GILT Not stable primary Trend. UpTrend in stability mitigation. BGOV_USA_Treasury Not stable primary Trend. UpTrend in stability mitigation. BGOV_Emerg_Mrkt_Loc Not stable primary Trend. BOND_Corp_Europa Not stable primary Trend. BOND_Corp_Usa Not stable primary Trend. UpTrend in stability mitigation. Trend in bullish acceleration with increasing volatility stance in a range of -2,7% (risk weight). BOND_Corp_Emerg Not stable primary Trend. DownTrend in stability mitigation. BOND_High_Yeld_GL #DIV/0! © MarkeTiming Research (ALL RIGHTS REDERVED) MarkeTiming Selection for the week of 8/6/2020 This Report is a rappresentative study of markets stance and does not constitute an investment advisory service. MARKET SELECTION weekly outlook TREND STABILITY PRIMARY TREND trend evolution VOLATILITY STANCE range evolution VOLATILITY DINAMIC volatility evolution TIMING RESISTENCE SUPPORT POWER Stability Trend Return Risk Dynamic Timing Power LONG TERM MEDIUM TERM SHORT TERM 22/mag 29/mag 05/giu 22/mag 29/mag 05/giu 22/mag 29/mag 05/giu 05/giu 05/giu 05/giu Stocks FTSE_MIB_(ITALY) 15% 32% 6% 18% -8,5% 1,7% 7,7% * 15,8% 2,8% 5,1% 10,9% 18,8% 2,8% 6,0% 10,0% 9,5% 7,4% 19,3% 19,5% 2,8% 51,4% CAC_40_(FRANCE) 13% 10% 14% -7,3% 3,0% 7,4% 14,2% 3,9% 5,6% 10,7% 21,6% 4,0% 7,1% * 9,5% 4,6% 27,6% 19,8% 32,9% 41,9% DAX_(GERMANY) 11% 16% 32% 18% 0,3% 8,5% 6,5% 17,8% * 5,8% 4,6% 10,9% 21,7% * 3,7% 5,4% 10,6% 8,3% 8,0% 8,1% 47,5% FTSE_100_(UK) 18% -7,8% 2,0% 3,4% 9,2% 3,3% 1,4% 6,7% 12,2% 4,3% 5,6% 6,5% 13,0% 11,3% 1,2% 54,5% Dow_ Jones_Ind_Av_(USA) 10% 5% -0,6% 5,8% 5,0% 11,3% 3,3% 3,9% 6,5% 18,2% 2,7% 5,8% 8,0% 15,5% 5,9% 36,4% 16,6% 6,2% Nasdaq_100_(USA) 19% 13,9% * 10,6% * 2,6% 6,4% 2,9% 1,6% 2,5% * 10,4% 2,8% 4,1% 3,4% 3,6% -16,8% 13,8% 10,1% 11,9% Nikkei_225_(JAPAN) 14% 12% 36% -6% 3,6% 10,1% 6,6% 13,3% 1,8% 7,3% * 4,5% 14,5% 3,6% 6,4% 4,4% -2,6% -20,1% 29,3% -18,1% 1,3% Hang_Seng_(HONG KONG) 39% 18% -6,8% -2,0% 1,5% 2,2% -3,6% * 0,1% 7,9% 9,5% -3,3% 4,1% 5,2% 20,5% * -20,8% 44,8% * 121,7% * 53,7% Shanghai_Comp_(CHINA) 15% 14% -0,1% 1,9% 1,4% 1,2% -1,9% 1,4% 2,8% 4,9% -3,2% 2,1% 2,4% * -2,2% -25,6% 18,3% 48,4% -0,5% 41,9% BSE_Sensex_(INDIA) -8,3% 0,7% 6,6% 8,4% -1,4% 5,7% 5,7% 14,0% -4,1% * 6,3% 4,7% -5,9% * -59,2% * 31,3% 2,3% 3,6% RTSI_(RUSSIA) 12% -18% -4,4% 6,2% 6,1% 13,2% 7,3% * 2,6% 5,4% 17,7% 10,0% * 3,9% 5,3% -1,1% 29,2% * -5,4% * -57,7% * Ibovespa_(BRAZIL) -56% -21% -32,9% * -28,0% * -17,5% * -22,6% * 0,0% -30,5% * 11,3% * -42,7% * -4,0% -49,6% * 14,8% * 13,4% Currency & Comodity EUR/USD 100% 6% 21% 1,9% 2,5% 2,0% 4,2% 0,8% 1,8% 1,8% 5,4% 1,9% 2,5% 2,5% 22,4% 30,7% 27,1% 20,6% 0,7% Gold -2% -48% -82% 9,0% * 3,5% -0,2% * -1,2% -1,1% -0,2% -2,5% -6,0% -3,4% -3,1% -5,1% -31,8% -42,6% -22,7% -46,4% -6,1% -60,3% Crude_Oil_WTI 90% 100% 31% -3% -19,8% * 13,5% * 13,0% * 60,5% * 12,4% 5,2% 12,1% 47,9% 14,9% 13,3% 14,2% 20,2% 1,2% 23,2% 30,3% -2,7% Natural_Gas -2% -14,2% 0,4% * 1,2% -1,5% * 5,5% 5,8% -1,9% -20,7% -11,3% -11,2% -6,4% -7,0% -3,1% -1,9% -7,8% Agricolture 15% 3,5% 2,8% -0,1% 0,4% 0,9% -1,2% -0,4% 2,5% 2,1% -1,9% -1,1% -16,0% -18,1% -31,7% 1,6% 12,2% Bond BGOV_ITA_BTP 11% 19% 13% 6% -1,1% 0,3% 1,0% 2,7% 1,7% 0,7% 0,5% 3,6% 1,5% 1,2% 1,2% 24,6% -13,8% 28,2% 33,4% -2,7% 24,2% BGOV_GERM_BUND -14% -10% -22% -17% -0,8% -1,1% -0,8% -2,3% -0,3% -0,5% -1,5% -2,6% -0,8% -1,0% -1,7% -33,5% -96,3% -40,2% -13,3% -5,6% -58,3% BGOV_UK_GILT -14% -24% -20% -20% 3,3% 0,9% -0,6% -3,4% 0,4% 0,1% -2,7% -3,5% 2,4% -1,9% -3,0% -20,3% -0,5% 0,4% -49,4% -8,7% -67,9% BGOV_USA_Treasury -6% -14% 3,4% * 0,5% -0,7% -1,5% -0,2% -0,2% -1,5% -2,5% 0,6% -0,6% -1,7% -10,7% -59,1% 13,6% -12,4% -51,4% BGOV_Emerg_Mrkt_Loc 16% 1% -2,7% 2,5% * 1,9% * 3,9% 2,6% 0,1% 1,5% 6,2% 2,5% -1,5% 2,1% 8,7% 20,0% -4,2% 9,7% 3,3% BOND_Corp_Europa 11% 17% 34% 15% -0,8% 1,1% 1,2% 2,7% 0,6% 0,7% 2,1% 3,9% 1,0% 1,0% 2,3% 20,2% 4,8% -10,0% 85,2% 11,2% 46,2% BOND_Corp_Usa -23% 9% 1,5% 0,8% -0,5% 0,3% 1,1% -1,6% -0,5% 3,5% 2,2% -2,2% -2,1% -21,3% -1,5% -34,8% -56,3% 4,9% 29,8% BOND_Corp_Emerg 18% 18% 10% 14% -7,8% -0,6% 1,8% 4,3% * 2,0% 0,4% 3,2% 6,1% 1,9% -1,5% 2,7% 4,7% 26,8% -14,9% 23,8% 10,9% 41,9% BOND_High_Yeld_GL -86% -14% 5% -9,7% * -6,5% * -1,1% * -3,4% * -1,9% -1,0% 0,6% -5,4% -2,2% -2,5% 1,6% -43,0% -21,9% -85,7% -21,4% 17,1% © MarkeTiming Research (ALL RIGHTS REDERVED) MarkeTiming Selection for the week of 8/6/2020 Stocks FTSE_MIB_(ITALY) Not stable primary Trend. Trend in bullish acceleration if goes over 20198 with increasing volatility stance in a range of 10% (risk weight). CAC_40_(FRANCE) Not stable primary Trend. Trend in bullish acceleration if goes over 5199 with increasing volatility stance in a range of 9,5% (risk weight). DAX_(GERMANY) Almost stable primary UpTrend about 17,8%. Trend in bullish acceleration if goes over 12858 with increasing volatility stance in a range of 10,5% (risk weight). FTSE_100_(UK) Not stable primary Trend. Trend in bullish acceleration if goes over 6489 with increasing volatility stance in a range of 6,4% (risk weight). Dow_ Jones_Ind_Av_(USA) Not stable primary Trend. Trend in bullish acceleration if goes over 27338 with increasing volatility stance in a range of 8% (risk weight). Nasdaq_100_(USA) Stably aligned primary UpTrend about 6,4%. Trend in bullish acceleration if goes over 9846 with increasing volatility stance in a range of 3,4% (risk weight). Nikkei_225_(JAPAN) Almost stable primary UpTrend about 13,3%. Trend in bullish acceleration if goes over 22907 with increasing volatility stance in a range of 4,4% (risk weight). Hang_Seng_(HONG KONG) Not stable primary Trend. DownTrend in stability mitigation. Shanghai_Comp_(CHINA) Not stable primary Trend. BSE_Sensex_(INDIA) Not stable primary Trend. Trend in bullish acceleration if goes over 34488 with increasing volatility stance in a range of 4,7% (risk weight). RTSI_(RUSSIA) Not stable primary Trend. Trend in bullish acceleration if goes over 1301 with increasing volatility stance in a range of 5,2% (risk weight). Ibovespa_(BRAZIL) Almost stable primary DownTrend about -22,5%. Currency & Comodity EUR/USD Almost stable primary UpTrend about 4,2%. Trend in bullish acceleration if goes over 1 with increasing volatility stance in a range of 2,5% (risk weight). Gold Not stable primary Trend. UpTrend in stability mitigation. Crude_Oil_WTI Not stable primary Trend. Trend in bearish acceleration if goes under 34 with increasing volatility stance in a range of 14,2% (risk weight). Natural_Gas Not stable primary Trend. Agricolture Not stable primary Trend. UpTrend in stability mitigation. Bond BGOV_ITA_BTP Not stable primary Trend. Trend in bearish acceleration with increasing volatility stance in a range of 1,2% (risk weight). BGOV_GERM_BUND Almost stable primary DownTrend about -2,3%. Trend in bullish acceleration with increasing volatility stance in a range of -1,6% (risk weight). BGOV_UK_GILT Not stable primary Trend. UpTrend in stability mitigation. Trend in bullish acceleration with increasing volatility stance in a range of -3% (risk weight). BGOV_USA_Treasury Not stable primary Trend. UpTrend in stability mitigation. BGOV_Emerg_Mrkt_Loc Not stable primary Trend. Trend in bullish acceleration with increasing volatility stance in a range of 2% (risk weight). BOND_Corp_Europa Not stable primary Trend. Trend in bullish acceleration with increasing volatility stance in a range of 2,3% (risk weight). BOND_Corp_Usa Not stable primary Trend. UpTrend in stability mitigation. BOND_Corp_Emerg Not stable primary Trend. DownTrend in stability mitigation. Trend in bullish acceleration with increasing volatility stance in a range of 2,7% (risk weight). BOND_High_Yeld_GL Almost stable primary DownTrend about -3,4%. © MarkeTiming Research (ALL RIGHTS REDERVED) MarkeTiming Selection for the week of 01/6/2020 This Report is a rappresentative study of markets stance and does not constitute an investment advisory service. MARKET SELECTION weekly outlook TREND STABILITY PRIMARY TREND trend evolution VOLATILITY STANCE range evolution VOLATILITY DINAMIC volatility evolution TIMING RESISTENCE SUPPORT POWER Stability Trend Return Risk Dynamic Timing Power LONG TERM MEDIUM TERM SHORT TERM 15/mag 22/mag 29/mag 15/mag 22/mag 29/mag 15/mag 22/mag 29/mag 29/mag 29/mag 29/mag Stocks FTSE_MIB_(ITALY) 11% 18% -15,6% -7,2% 2,7% 2,9% -3,4% 2,8% 5,1% 9,1% -5,1% 2,8% 6,0% 6,5% -3,6% 7,4% 19,3% 3,9% 46,7% CAC_40_(FRANCE) 11% -13,5% -4,7% 3,4% 2,7% -6,0% * 3,9% 5,6% 13,0% -8,5% * 4,0% 7,1% * -9,5% -44,1% * 27,6% 19,8% DAX_(GERMANY) 7% -4,9% 2,3% 4,8% 6,7% -4,0% 5,8% 4,6% 12,4% -5,6% 3,7% 5,4% 3,7% -7,2% 8,0% 10,6% FTSE_100_(UK) 6% -11,0% -2,3% 2,1% 5,4% -2,3% 3,3% 1,4% 8,9% -4,3% 4,3% 5,6% 10,7% 9,0% * 11,3% -8,0% Dow_ Jones_Ind_Av_(USA) 8% 20% -4,6% 1,1% 3,2% 7,1% -2,6% 3,3% 3,9% 12,1% -6,6% 2,7% 5,8% 15,1% * 1,4% 5,9% 36,4% 6,0% Nasdaq_100_(USA) 18% 11% 51% 7% 11,8% * 8,4% * 1,9% 9,6% -0,7% 2,9% 1,6% 9,7% -5,3% 2,8% 4,1% 2,2% -4,7% -16,8% 13,8% 20,1% Nikkei_225_(JAPAN) 13% 49% 16% 21% -1,7% 4,0% 4,4% 11,5% * -0,7% 1,8% 7,3% * 12,2% -3,5% 3,6% 6,4% -4,4% -13,2% -20,1% 29,3% 11,1% 48,9% Hang_Seng_(HONG KONG) -17% -8% 25% -11,1% -7,0% -2,7% -6,8% -1,8% -3,6% * 0,1% -9,4% -4,5% -3,3% 4,1% 1,0% -0,8% -20,8% 44,8% * Shanghai_Comp_(CHINA) -4% -3,0% -1,2% -1,1% -0,3% -0,9% -1,9% 1,4% 3,9% -1,8% * -3,2% 2,1% -3,4% 0,2% -25,6% 18,3% 7,9% BSE_Sensex_(INDIA) -4% 17% 22% -15,5% -8,0% 0,3% -3,8% -1,7% -1,4% 5,7% -9,1% -6,5% -4,1% * 6,3% -13,6% * -18,4% -59,2% * 31,3% 6,2% 55,7% RTSI_(RUSSIA) 9% -8,6% 0,3% 4,9% * 8,4% -2,5% 7,3% * 2,6% 13,9% * -5,1% 10,0% * 3,9% 7,0% -13,9% 29,2% * -5,4% * Ibovespa_(BRAZIL) -61% -34% -32% -29,9% * -26,0% * -18,9% * -30,5% * 0,0% * 0,0% -30,5% * -39,5% * -4,0% -4,0% -49,6% * 0,0% -91,2% Currency & Comodity EUR/USD 26% 43% -0,2% 0,4% * 0,8% 1,1% -0,2% 0,8% 1,8% 3,5% -1,0% 1,9% 2,5% 16,7% 11,7% 30,7% 27,1% 4,9% 52,1% Gold -22% 41% 9,3% * 3,9% * -0,3% * 1,4% 2,7% -1,1% -0,2% 5,2% 3,9% -3,4% -3,1% -9,3% 15,3% -42,6% -22,7% 4,6% 50,3% Crude_Oil_WTI 94% 100% 22% -27,7% * 0,6% 14,9% * 79,5% * 21,1% 12,4% 5,2% 58,9% 22,8% 14,9% 13,3% 14,1% 29,6% 1,2% 23,2% 8,8% Natural_Gas -3% -11,7% 3,7% 2,5% -2,8% * -10,1% 5,5% 5,8% -30,0% -16,5% -11,3% -11,2% -0,9% -18,1% -3,1% -1,9% Agricolture 100% 3% -30% -16% 4,4% 3,8% 1,1% 2,4% 1,1% 0,9% -1,2% 4,4% 1,3% 2,1% -1,9% -21,1% -1,1% -18,1% -31,7% -21,8% Bond BGOV_ITA_BTP 13% 15% -4% -1,4% -0,2% 1,3% 1,7% -0,3% 1,7% 0,7% 3,7% -0,9% 1,5% 1,2% 17,6% 60,6% -13,8% 28,2% -8,1% BGOV_GERM_BUND -5% -10% -54% -21% 2% -0,2% -0,4% -0,5% -1,4% 0,0% -0,3% -0,5% -1,8% 0,6% -0,8% -1,0% -34,0% -4,3% -96,3% -40,2% 3,9% BGOV_UK_GILT 26% 4,5% * 2,2% * -0,2% -0,1% -1,2% 0,4% 0,1% -2,9% -1,3% 2,4% -1,9% 8,8% -53,8% -0,5% 0,4% 9,7% 40,9% BGOV_USA_Treasury -2% 4,4% 1,6% -0,1% -0,2% 0,4% -0,2% -0,2% -1,1% 1,0% 0,6% -0,6% 3,0% -28,2% -59,1% 13,6% BGOV_Emerg_Mrkt_Loc 33% 46% -3,7% 1,1% 2,3% * 4,3% * -0,3% 2,6% 0,1% 7,0% -1,5% 2,5% -1,5% 9,8% -3,7% 20,0% -4,2% -0,1% BOND_Corp_Europa 2% 21% -2,0% -0,1% 0,5% 0,2% -0,7% 0,6% 0,7% 1,9% -1,1% 1,0% 1,0% -8,5% -18,6% 4,8% -10,0% -2,0% 42,5% BOND_Corp_Usa 24% -6% -18% -26% 2,8% 2,1% 0,8% -0,8% 1,4% 1,1% -1,6% 3,5% 2,2% 2,2% -2,2% -11,3% 4,0% -1,5% -34,8% -4,6% -46,7% BOND_Corp_Emerg 17% -3% -9,2% * -2,7% 1,5% 2,2% -1,2% 2,0% 0,4% 4,7% -2,4% 1,9% -1,5% -8,2% -15,4% 26,8% -14,9% -6,6% BOND_High_Yeld_GL -71% -17% -45% -18% -9,1% -6,4% * -0,9% * -2,2% * -1,2% -1,9% -1,0% -5,4% -2,8% -2,2% -2,5% -24,8% -42,9% -21,9% -85,7% -35,1% © MarkeTiming Research (ALL RIGHTS REDERVED) MarkeTiming Selection for the week of 32/5/2020 Stocks FTSE_MIB_(ITALY) Not stable primary Trend. DownTrend in stability mitigation. CAC_40_(FRANCE) Not stable primary Trend. DownTrend in stability mitigation. DAX_(GERMANY) Not stable primary Trend. Trend in bullish acceleration if goes over 11747 with increasing volatility stance in a range of 5,4% (risk weight). FTSE_100_(UK) Not stable primary Trend. DownTrend in stability mitigation. Trend in bullish acceleration if goes over 6234 with increasing volatility stance in a range of 5,6% (risk weight). Dow_ Jones_Ind_Av_(USA) Not stable primary Trend. Trend in bullish acceleration if goes over 25758 with increasing volatility stance in a range of 5,7% (risk weight). Nasdaq_100_(USA) Stably aligned primary UpTrend about 9,5%. Trend in bearish acceleration if goes under 9182 with increasing volatility stance in a range of 4% (risk weight). Nikkei_225_(JAPAN) Not stable primary Trend. Trend in bullish acceleration if goes over 21955 with increasing volatility stance in a range of 6,3% (risk weight). Hang_Seng_(HONG KONG) Almost stable primary DownTrend about -6,8%. Shanghai_Comp_(CHINA) Stable Down Trend but without relevant performance. BSE_Sensex_(INDIA) Not stable primary Trend. DownTrend in stability mitigation. RTSI_(RUSSIA) Not stable primary Trend. Trend in bullish acceleration if goes over 1243 with increasing volatility stance in a range of 3,8% (risk weight). Ibovespa_(BRAZIL) Stably aligned primary DownTrend about -30,4%. Trend in bullish acceleration if goes over 21691 with increasing volatility stance in a range of -49,5% (risk weight). Currency & Comodity EUR/USD Not stable primary Trend. Gold Not stable primary Trend. UpTrend in stability mitigation. Crude_Oil_WTI Not stable primary Trend. Trend in bearish acceleration if goes under 31 with reducing volatility stance in a range of 13,2% (risk weight). Natural_Gas Not stable primary Trend. Agricolture Almost stable primary UpTrend about 2,4%. Bond BGOV_ITA_BTP Not stable primary Trend. DownTrend in stability mitigation. Trend in bullish acceleration with increasing volatility stance in a range of 1,2% (risk weight). BGOV_GERM_BUND Almost stable primary DownTrend about -1,3%. Trend in bullish acceleration with increasing volatility stance in a range of -1% (risk weight). BGOV_UK_GILT Not stable primary Trend. UpTrend in stability mitigation. BGOV_USA_Treasury Not stable primary Trend. UpTrend in stability mitigation. Trend in bullish acceleration with increasing volatility stance in a range of -0,6% (risk weight). BGOV_Emerg_Mrkt_Loc Not stable primary Trend. Trend in bearish acceleration with reducing volatility stance in a range of -1,4% (risk weight). BOND_Corp_Europa Not stable primary Trend. DownTrend in stability mitigation. BOND_Corp_Usa Almost stable primary UpTrend about -0,8%. BOND_Corp_Emerg Not stable primary Trend. DownTrend in stability mitigation. Trend in bearish acceleration with increasing volatility stance in a range of -1,5% (risk weight). BOND_High_Yeld_GL Stably aligned primary DownTrend about -2,2%. Trend in bullish acceleration with increasing volatility stance in a range of -2,5% (risk weight). © MarkeTiming Research (ALL RIGHTS REDERVED) MarkeTiming Selection for the week of 25/5/2020 This Report is a rappresentative study of markets stance and does not constitute an investment advisory service. MARKET SELECTION weekly outlook TREND STABILITY PRIMARY TREND trend evolution VOLATILITY STANCE range evolution VOLATILITY DINAMIC volatility evolution TIMING RESISTENCE SUPPORT POWER Stability Trend Return Risk Dynamic Timing Power LONG TERM MEDIUM TERM SHORT TERM 08/mag 15/mag 22/mag 08/mag 15/mag 22/mag 08/mag 15/mag 22/mag 22/mag 22/mag 22/mag Stocks FTSE_MIB_(ITALY) -25% 4% -19,1% * -12,4% * -0,9% 2,7% -1,4% -3,4% 2,8% 8,6% 2,7% -5,1% 2,8% -9,8% -3,6% 7,4% 11,3% CAC_40_(FRANCE) -22% 14% -17,4% -10,1% -0,5% 1,2% -0,5% -6,0% * 3,9% -11,6% 4,4% -8,5% * 4,0% -10,6% -44,1% * 27,6% 3,5% DAX_(GERMANY) 19% 50% 15% -9,5% -3,5% 1,4% 7,1% 0,4% -4,0% 5,8% 7,9% 4,6% -5,6% 3,7% -9,0% -7,2% 8,0% 4,4% 43,4% FTSE_100_(UK) 11% 13% -13,2% -5,5% 0,8% 4,2% 3,0% -2,3% 3,3% 6,0% 4,1% -4,3% 4,3% 5,8% * 14,4% 9,0% * 11,3% -7,7% 46,8% Dow_ Jones_Ind_Av_(USA) 3% -7,2% -2,5% 1,5% 2,8% 2,4% -2,6% 3,3% 8,1% 4,0% -6,6% 2,7% -2,9% 1,4% 5,9% 7,9% Nasdaq_100_(USA) 18% 19% -8% 4% 11,9% * 8,0% * 3,1% 7,2% 5,6% * -0,7% 2,9% 9,3% 6,2% * -5,3% 2,8% -10,5% -4,7% -16,8% 11,2% Nikkei_225_(JAPAN) 15% 50% -10% -5,7% -1,0% 2,0% 5,8% 2,9% -0,7% 1,8% 6,6% 3,7% -3,5% 3,6% -12,1% -24,0% * -13,2% -20,1% Hang_Seng_(HONG KONG) -10% -10% -10% -14% -7,8% -4,4% -0,4% -3,8% * -1,7% -1,8% -3,6% * -5,2% 2,7% -4,5% -3,3% -4,1% 1,8% -0,8% -20,8% -41,9% Shanghai_Comp_(CHINA) -13% -1,6% -0,2% 0,4% 0,2% 1,2% -0,9% -1,9% 5,4% 2,5% -1,8% * -3,2% -18,1% 17,6% * 0,2% -25,6% BSE_Sensex_(INDIA) -25% -30% -4% -17,7% -11,6% -3,0% * -2,1% -6,2% * -1,7% -1,4% -12,2% * -4,9% * -6,5% -4,1% * -20,2% * -23,6% -18,4% -59,2% * -11,5% RTSI_(RUSSIA) 26% 15% 13% -11,3% -4,3% 4,2% * 9,9% * 1,0% -2,5% 7,3% * 14,1% * 5,2% -5,1% 10,0% * 1,6% -13,9% 29,2% * 40,4% Ibovespa_(BRAZIL) -32% -5,2% -1,7% 3,9% 0,0% 0,0% 0,0% * 0,0% -4,0% -4,0% -4,0% -4,0% 0,0% -97,5% Currency & Comodity EUR/USD 34% -0,8% -0,2% 0,5% 0,9% -1,3% -0,2% 0,8% 2,3% -1,9% -1,0% 1,9% 18,8% -12,3% 11,7% 30,7% Gold 37% -47% -6% 11,1% * 5,9% * 1,1% -0,3% * 0,1% 2,7% -1,1% -5,7% -3,0% 3,9% -3,4% -10,7% 25,2% 15,3% -42,6% -0,3% Crude_Oil_WTI 97% 100% -30,7% * -6,0% * 31,3% * 96,5% * 25,3% 21,1% 12,4% 95,4% 35,1% 22,8% 14,9% 12,5% 6,0% 29,6% 1,2% Natural_Gas -46% 94% -16,7% -2,0% -3,6% * 0,5% -3,2% -10,1% 5,5% -29,8% -17,2% -16,5% -11,3% -1,0% 20,2% -18,1% -3,1% 5,6% Agricolture 17% 3% -20% 3,8% 3,3% 1,1% 3,1% 1,6% 1,1% 0,9% 4,4% 2,5% 1,3% 2,1% -5,6% -14,1% -1,1% -18,1% Bond BGOV_ITA_BTP 15% 19% -2,4% -1,3% 0,6% 1,8% -0,5% -0,3% 1,7% 2,6% -1,6% -0,9% 1,5% 10,6% 10,2% 60,6% -13,8% 50,4% BGOV_GERM_BUND -43% 0,2% 0,1% -0,3% -0,1% -0,6% 0,0% -0,3% -1,2% -1,0% 0,6% -0,8% 16,6% 23,6% -4,3% -96,3% BGOV_UK_GILT 19% 4,5% 2,4% * -0,4% * 0,1% 0,6% -1,2% 0,4% 2,9% 2,9% -1,3% 2,4% 7,7% 124,7% -53,8% -0,5% 50,0% BGOV_USA_Treasury -26% 4,6% * 2,0% -0,2% -0,6% -0,3% 0,4% -0,2% -1,2% -0,8% 1,0% 0,6% -12,4% 23,4% -28,2% -59,1% 0,2% BGOV_Emerg_Mrkt_Loc 46% 100% 9% -5,6% -1,1% 1,8% * 5,6% * 1,9% -0,3% 2,6% 5,9% 3,5% -1,5% 2,5% 1,2% 20,5% -3,7% 20,0% BOND_Corp_Europa -17% 19% -2,8% -1,1% -0,2% 0,3% -0,4% -0,7% 0,6% 1,6% -1,0% -1,1% 1,0% -9,9% -13,1% -18,6% 4,8% -0,5% 51,4% BOND_Corp_Usa 20% 6% 2,6% 1,9% 0,4% 0,8% -1,6% 1,4% 1,1% 3,3% -1,9% 2,2% 2,2% -5,9% -7,9% 4,0% -1,5% BOND_Corp_Emerg 19% 12% 18% -11,0% * -5,2% 0,6% 2,3% 1,1% -1,2% 2,0% 3,1% 2,3% -2,4% 1,9% -2,5% -8,6% -15,4% 26,8% -1,2% 47,5% BOND_High_Yeld_GL -63% -15% -10% -25% -8,6% -6,6% * -0,4% -1,9% * 1,9% -1,2% -1,9% -3,8% 3,1% -2,8% -2,2% -1,9% 38,4% -42,9% -21,9% -15,0% -50,0% © MarkeTiming Research (ALL RIGHTS REDERVED) MarkeTiming Selection for the week of 25/5/2020 Stocks FTSE_MIB_(ITALY) Stable Down Trend but without relevant performance. CAC_40_(FRANCE) Stable Down Trend but without relevant performance. DAX_(GERMANY) Not stable primary Trend. DownTrend in stability mitigation. Trend in bullish acceleration if goes over 11089 with increasing volatility stance in a range of 3,7% (risk weight). FTSE_100_(UK) Not stable primary Trend. DownTrend in stability mitigation. Trend in bullish acceleration if goes over 6058 with increasing volatility stance in a range of 4,2% (risk weight). Dow_ Jones_Ind_Av_(USA) Not stable primary Trend. DownTrend in stability mitigation. Nasdaq_100_(USA) Stably aligned primary UpTrend about 7,1%. Trend in bullish acceleration if goes over 9515 with increasing volatility stance in a range of 2,8% (risk weight). Nikkei_225_(JAPAN) Not stable primary Trend. DownTrend in stability mitigation. Trend in bullish acceleration if goes over 20734 with increasing volatility stance in a range of 3,5% (risk weight). Hang_Seng_(HONG KONG) Stably aligned primary DownTrend about -3,7%. Trend in bullish acceleration if goes over 24528 with increasing volatility stance in a range of -3,3% (risk weight). Shanghai_Comp_(CHINA) Not stable primary Trend. DownTrend in stability mitigation. BSE_Sensex_(INDIA) Stably aligned primary DownTrend about -2%. Trend in bullish acceleration if goes over 31248 with increasing volatility stance in a range of -4,1% (risk weight). RTSI_(RUSSIA) Not stable primary Trend. DownTrend in stability mitigation. Trend in bullish acceleration if goes over 1243 with increasing volatility stance in a range of 10% (risk weight). Ibovespa_(BRAZIL) Not stable primary Trend. DownTrend in stability mitigation. Currency & Comodity EUR/USD Not stable primary Trend. DownTrend in stability mitigation. Trend in bullish acceleration if goes over 1 with increasing volatility stance in a range of 1,9% (risk weight). Gold Stable Up Trend but without relevant performance. Crude_Oil_WTI Not stable primary Trend. DownTrend in stability mitigation. Trend in bearish acceleration if goes under 29 with reducing volatility stance in a range of 14,9% (risk weight). Natural_Gas Stable Down Trend but without relevant performance. Agricolture Stably aligned primary UpTrend about 3%. Trend in bullish acceleration with increasing volatility stance in a range of 2,1% (risk weight). Bond BGOV_ITA_BTP Not stable primary Trend. DownTrend in stability mitigation. Trend in bullish acceleration with increasing volatility stance in a range of 1,5% (risk weight). BGOV_GERM_BUND Not stable primary Trend. UpTrend in stability mitigation. BGOV_UK_GILT Not stable primary Trend. UpTrend in stability mitigation. BGOV_USA_Treasury Not stable primary Trend. UpTrend in stability mitigation. Trend in bullish acceleration with increasing volatility stance in a range of 0,6% (risk weight). BGOV_Emerg_Mrkt_Loc Not stable primary Trend. DownTrend in stability mitigation. Trend in bullish acceleration with increasing volatility stance in a range of 2,5% (risk weight). BOND_Corp_Europa Stable Down Trend but without relevant performance. BOND_Corp_Usa Stably aligned primary UpTrend about 0,7%. BOND_Corp_Emerg Not stable primary Trend. DownTrend in stability mitigation. Trend in bullish acceleration with increasing volatility stance in a range of 1,9% (risk weight). BOND_High_Yeld_GL Stably aligned primary DownTrend about -1,8%. Trend in bullish acceleration with increasing volatility stance in a range of -2,2% (risk weight). © MarkeTiming Research (ALL RIGHTS REDERVED) MarkeTiming Selection for the week of 18/5/2020 This Report is a rappresentative study of markets stance and does not constitute an investment advisory service. MARKET SELECTION weekly outlook TREND STABILITY PRIMARY TREND trend evolution VOLATILITY STANCE range evolution VOLATILITY DINAMIC volatility evolution TIMING RESISTENCE SUPPORT POWER Stability Trend Return Risk Dynamic Timing Power LONG TERM MEDIUM TERM SHORT TERM 01/mag 08/mag 15/mag 01/mag 08/mag 15/mag 01/mag 08/mag 15/mag 15/mag 15/mag 15/mag Stocks FTSE_MIB_(ITALY) -5% -11% -19,0% * -13,5% * 0,2% -1,2% 4,9% -1,4% -3,4% -10,1% 6,5% 2,7% -5,1% -13,0% -114,1% * -0,1% -40,5% CAC_40_(FRANCE) -36% -22% -29% -19% -18,8% -12,9% -1,7% * -4,9% * 4,1% -0,5% -6,0% * -11,6% * 5,8% 4,4% -8,5% * -18,0% -4,6% -18,3% -54,0% DAX_(GERMANY) -7% -14% -12,2% -7,3% 0,1% -1,5% 5,1% 0,4% -4,0% -8,7% 6,6% 4,6% -5,6% -27,8% * -53,5% -3,3% -49,0% FTSE_100_(UK) 22% -14,5% -7,9% 0,8% 0,2% 0,2% 3,0% -2,3% 6,1% 2,6% 4,1% -4,3% 4,1% * -18,7% 14,4% 9,0% * -3,9% Dow_ Jones_Ind_Av_(USA) -18% -10% -19% 17% -10,1% -6,3% -0,5% -2,3% -0,3% 2,4% -2,6% -8,2% -4,4% * 4,0% -6,6% -4,9% -11,7% 19,5% 45,4% Nasdaq_100_(USA) 18% 17% 23% 9,3% * 5,2% * 2,3% 3,6% * -0,6% * 5,6% * -0,7% 11,1% -3,8% 6,2% * -5,3% -13,9% -16,2% 13,4% Nikkei_225_(JAPAN) 3% -33% -6,8% -3,1% 2,2% 0,7% 1,9% 2,9% -0,7% 8,4% 4,8% 3,7% -3,5% -11,8% 3,4% -24,0% * -13,2% Hang_Seng_(HONG KONG) -11% -29% -13% -7,5% -4,9% 0,2% -2,4% 3,4% -1,7% -1,8% -5,6% 3,3% 2,7% -4,5% -0,6% -5,2% 1,8% -0,8% 1,4% -49,0% Shanghai_Comp_(CHINA) 5% -1,2% -0,2% 1,0% 1,1% 1,8% 1,2% -0,9% 5,4% 3,8% 2,5% -1,8% * -9,6% -77,5% 17,6% * 0,2% BSE_Sensex_(INDIA) -28% -7% -45% -15,6% -10,5% -0,7% -1,6% 7,6% * -6,2% * -1,7% -10,9% 6,8% -4,9% * -6,5% -9,5% 23,2% * -23,6% -18,4% * -4,9% RTSI_(RUSSIA) 12% -16,3% -11,3% 1,3% 2,7% 4,0% 1,0% -2,5% 15,9% * 7,8% * 5,2% -5,1% -2,5% -11,3% Ibovespa_(BRAZIL) -26% -5,5% -2,8% 3,9% * 0,0% 0,0% 0,0% 0,0% * -4,0% -4,0% -4,0% -4,0% 0,0% -97,5% Currency & Comodity EUR/USD -6% 16% -1,8% -1,2% -0,2% -0,5% 1,5% -1,3% -0,2% -2,7% 1,9% -1,9% -1,0% 9,6% 34,8% -12,3% 11,7% Gold 26% 5% 46% 20% 94% 10,1% * 5,2% * 0,0% 3,5% -1,9% 0,1% 2,7% 5,6% -4,0% -3,0% 3,9% -1,8% -27,7% 25,2% 15,3% -0,5% 50,7% Crude_Oil_WTI 83% 40% -45,0% * -27,5% * 26,3% * 63,4% * 15,3% 25,3% 21,1% 104,8% 59,9% 35,1% 22,8% -18,6% 26,6% 6,0% 29,6% Natural_Gas -55% -9% -24% -6% -19,2% -5,6% -7,1% * -6,5% * 9,3% -3,2% -10,1% -29,4% 13,0% -17,2% -16,5% 6,8% -2,2% 20,2% -18,1% -3,0% Agricolture 13% 4% 54% 3,5% 3,0% 1,3% 2,8% -0,6% 1,6% 1,1% 3,9% 1,7% 2,5% 1,3% -0,9% 6,8% -14,1% -1,1% Bond BGOV_ITA_BTP 30% -3,5% -2,4% 0,2% -0,3% 0,8% -0,5% -0,3% 3,8% 0,7% -1,6% -0,9% 3,8% 10,2% 60,6% BGOV_GERM_BUND 7% 0,5% 0,5% 0,0% 0,3% 0,8% -0,6% 0,0% 1,5% 1,2% -1,0% 0,6% 30,5% 58,9% 23,6% -4,3% BGOV_UK_GILT 60% -26% 5,3% * 3,4% * 0,2% 0,2% 0,3% 0,6% -1,2% 3,9% 1,5% 2,9% -1,3% 46,9% -7,8% 124,7% -53,8% BGOV_USA_Treasury -14% 6% 5,0% 2,6% -0,2% 0,0% -0,5% -0,3% 0,4% -1,6% -0,6% -0,8% 1,0% -6,4% -27,5% 23,4% -28,2% 3,5% BGOV_Emerg_Mrkt_Loc 26% 35% -7,2% -3,2% 1,3% * 1,8% * 1,3% 1,9% -0,3% 3,8% 3,2% 3,5% -1,5% -13,3% -15,3% 20,5% -3,7% BOND_Corp_Europa -32% -9% -10% -3,1% -1,4% -0,3% 0,0% 0,7% -0,4% -0,7% -1,9% 0,8% -1,0% -1,1% -3,7% -21,3% -13,1% -18,6% -5,6% BOND_Corp_Usa -22% 68% 1,5% 0,8% -0,8% * -1,5% 0,0% -1,6% 1,4% -4,0% -1,2% -1,9% 2,2% -12,4% -19,2% -7,9% 4,0% 39,9% BOND_Corp_Emerg -25% -36% -6% -11,8% * -6,6% * 0,4% -1,7% 0,4% 1,1% -1,2% -3,5% 2,2% 2,3% -2,4% -12,5% -1,7% -8,6% -15,4% -3,4% BOND_High_Yeld_GL -27% -29% -21% -10% -7,9% -6,4% 0,1% -1,8% * -0,6% 1,9% -1,2% -4,7% 1,3% 3,1% -2,8% -4,8% 38,4% -42,9% -5,9% © MarkeTiming Research (ALL RIGHTS REDERVED) MarkeTiming Selection for the week of 18/5/2020 Stocks FTSE_MIB_(ITALY) Not stable primary Trend. DownTrend in stability mitigation. CAC_40_(FRANCE) Stably aligned primary DownTrend about -4,9%. DAX_(GERMANY) Not stable primary Trend. DownTrend in stability mitigation. FTSE_100_(UK) Not stable primary Trend. DownTrend in stability mitigation. Dow_ Jones_Ind_Av_(USA) Stably aligned primary DownTrend about -2,2%. Nasdaq_100_(USA) Almost stable primary UpTrend about 3,6%. Nikkei_225_(JAPAN) Not stable primary Trend. DownTrend in stability mitigation. Hang_Seng_(HONG KONG) Not stable primary Trend. DownTrend in stability mitigation. Trend in bullish acceleration if goes over 24766 with increasing volatility stance in a range of -4,4% (risk weight). Shanghai_Comp_(CHINA) Not stable primary Trend. DownTrend in stability mitigation. BSE_Sensex_(INDIA) Stably aligned primary DownTrend about -1,5%. RTSI_(RUSSIA) Not stable primary Trend. DownTrend in stability mitigation. Ibovespa_(BRAZIL) Not stable primary Trend. DownTrend in stability mitigation. Currency & Comodity EUR/USD Stably aligned primary DownTrend about -0,5%. Trend in bullish acceleration if goes over 1 with increasing volatility stance in a range of -1% (risk weight). Gold Stably aligned primary UpTrend about 3,5%. Trend in bullish acceleration if goes over 1760 with increasing volatility stance in a range of 3,9% (risk weight). Crude_Oil_WTI Not stable primary Trend. DownTrend in stability mitigation. Trend in bullish acceleration if goes over 29 with reducing volatility stance in a range of 22,8% (risk weight). Natural_Gas Almost stable primary DownTrend about -6,5%. Agricolture Stably aligned primary UpTrend about 2,8%. Trend in bullish acceleration with increasing volatility stance in a range of 1,3% (risk weight). Bond BGOV_ITA_BTP Not stable primary Trend. DownTrend in stability mitigation. Trend in bullish acceleration with reducing volatility stance in a range of -0,9% (risk weight). BGOV_GERM_BUND Stable Up Trend but without relevant performance. Trend in bearish acceleration with increasing volatility stance in a range of 0,6% (risk weight). BGOV_UK_GILT Stable Up Trend but without relevant performance. BGOV_USA_Treasury Not stable primary Trend. UpTrend in stability mitigation. BGOV_Emerg_Mrkt_Loc Not stable primary Trend. DownTrend in stability mitigation. BOND_Corp_Europa Stably aligned primary DownTrend about 0%. BOND_Corp_Usa Not stable primary Trend. UpTrend in stability mitigation. BOND_Corp_Emerg Not stable primary Trend. DownTrend in stability mitigation. Trend in bullish acceleration with increasing volatility stance in a range of -2,4% (risk weight). BOND_High_Yeld_GL Not stable primary Trend. DownTrend in stability mitigation. Trend in bullish acceleration with increasing volatility stance in a range of -2,8% (risk weight). © MarkeTiming Research (ALL RIGHTS REDERVED) MarkeTiming Selection for the week of 11/5/2020 This Report is a rappresentative study of markets stance and does not constitute an investment advisory service. MARKET SELECTION weekly outlook TREND STABILITY PRIMARY TREND trend evolution VOLATILITY STANCE range evolution VOLATILITY DINAMIC volatility evolution TIMING RESISTENCE SUPPORT POWER Stability Trend Return Risk Dynamic Timing Power LONG TERM MEDIUM TERM SHORT TERM 24/apr 01/mag 08/mag 24/apr 01/mag 08/mag 24/apr 01/mag 08/mag 08/mag 08/mag 08/mag Stocks FTSE_MIB_(ITALY) -3% -19,4% * -15,1% * 0,3% -1,0% * -1,2% 4,9% -1,4% -10,0% -3,5% 6,5% 2,7% -21,3% 11,3% -114,1% * -6,8% CAC_40_(FRANCE) -50% -3% -17,8% -12,9% -0,3% 0,9% -2,3% 4,1% -0,5% 8,8% -3,9% 5,8% 4,4% -7,7% 7,0% -4,6% -7,0% DAX_(GERMANY) 13% -12,3% -8,4% 0,5% 3,2% -2,7% 5,1% 0,4% 8,7% -3,9% 6,6% 4,6% -28,3% * -24,4% -53,5% -2,5% FTSE_100_(UK) 18% -16,0% -10,3% 0,3% 1,6% -0,6% 0,2% 3,0% 6,3% -3,2% 2,6% 4,1% -3,2% 11,8% -18,7% 14,4% -0,8% Dow_ Jones_Ind_Av_(USA) 10% 15% -9,6% -6,6% 0,3% 2,5% -1,8% -0,3% 2,4% 7,6% -4,9% -4,4% * 4,0% -7,8% -7,2% -11,7% 0,9% 40,0% Nasdaq_100_(USA) 23% 48% 100% 18% 8,2% * 3,9% * 2,3% 11,9% * -0,5% -0,6% * 5,6% * 12,0% 5,7% -3,8% 6,2% * -11,1% -28,9% * -16,2% 49,8% Nikkei_225_(JAPAN) 14% -30% -4% -8,9% -5,9% 1,0% 3,5% -3,2% * 1,9% 2,9% 7,6% -4,8% 4,8% 3,7% -4,4% -14,4% 3,4% -24,0% * -9,8% Hang_Seng_(HONG KONG) -27% -8,8% -6,8% -1,0% * -0,3% -2,3% 3,4% -1,7% 5,6% -4,2% 3,3% 2,7% -10,9% -1,6% -5,2% 1,8% Shanghai_Comp_(CHINA) 14% 22% 18% -2,0% -1,4% 0,8% 3,5% -1,1% 1,8% 1,2% 5,1% -1,8% 3,8% 2,5% -3,9% -8,5% -77,5% 17,6% * 4,6% 43,3% BSE_Sensex_(INDIA) -30% -15,4% -11,2% 0,5% 1,6% -0,8% 7,6% * -6,2% * 12,1% * -5,3% * 6,8% -4,9% * -12,3% 26,7% * 23,2% * -23,6% RTSI_(RUSSIA) -4% -16,7% -13,1% 2,0% -0,5% 0,2% * 4,0% 1,0% -15,9% * 11,0% * 7,8% * 5,2% -9,0% 26,7% -11,3% -10,0% Ibovespa_(BRAZIL) -36% -5,8% -3,9% 3,9% * 0,0% 0,0% 0,0% 0,0% -4,0% -4,0% -4,0% -4,0% 0,0% * -97,5% Currency & Comodity EUR/USD -34% -83% -1,6% -1,1% -0,1% -0,9% -0,6% 1,5% -1,3% -2,7% -1,6% 1,9% -1,9% 3,0% -3,1% 34,8% -12,3% -11,3% -49,3% Gold 42% 10,0% * 5,2% -0,7% * -2,5% * 2,7% -1,9% 0,1% -7,0% 5,6% -4,0% -3,0% -5,2% -11,5% -27,7% 25,2% Crude_Oil_WTI 38% -7% -52,1% * -39,1% * 21,1% * 5,6% * -6,6% 15,3% 25,3% -96,3% -91,7% 59,9% 35,1% -31,8% -138,5% 26,6% 6,0% -5,2% Natural_Gas 31% 34% -8,2% 6,4% * 6,5% 4,7% -1,8% 9,3% -3,2% 31,6% -13,9% 13,0% -17,2% 18,2% 31,7% -2,2% 20,2% Agricolture 66% 31% 100% -24% -10% 2,4% 2,0% 1,0% 4,7% 0,6% -0,6% 1,6% 5,8% 2,4% 1,7% 2,5% 21,1% -2,7% 6,8% -14,1% -7,1% Bond BGOV_ITA_BTP -11% -3,6% -2,6% 0,1% -1,1% -0,4% 0,8% -0,5% -4,5% 2,6% 0,7% -1,6% -5,0% -34,3% BGOV_GERM_BUND 4% 12% 50% 12% 0,7% 0,8% 0,4% 1,2% 0,1% 0,8% -0,6% 2,2% 0,8% 1,2% -1,0% 33,3% 8,8% 58,9% 23,6% -2,8% BGOV_UK_GILT 21% 12% 61% 39% 5,5% * 3,9% * 0,4% 1,2% 0,5% 0,3% 0,6% 3,9% 3,4% 1,5% 2,9% 59,0% 113,0% -7,8% 124,7% 4,1% 61,0% BGOV_USA_Treasury 1% 11% 5,0% 2,8% -0,3% 0,1% 0,4% -0,5% -0,3% 1,6% 0,7% -0,6% -0,8% -12,6% -11,1% -27,5% 23,4% -8,7% BGOV_Emerg_Mrkt_Loc 23% 50% 10% 31% -8,4% -4,9% 0,8% * 2,4% * -1,1% 1,3% 1,9% 4,4% -1,7% 3,2% 3,5% -12,4% -35,9% -15,3% 20,5% -3,5% 55,6% BOND_Corp_Europa 3% -6% -2,7% -1,2% 0,3% 0,3% 0,4% 0,7% -0,4% 3,4% 1,3% 0,8% -1,0% 5,4% 26,6% -21,3% -13,1% 5,1% BOND_Corp_Usa -15% 2,1% 1,4% -0,9% * -1,5% -1,2% 0,0% -1,6% 5,0% -2,2% -1,2% -1,9% -11,3% -28,9% -19,2% -7,9% -0,1% BOND_Corp_Emerg -42% -12,3% * -7,7% * -0,1% 0,0% -2,0% 0,4% 1,1% 5,7% -3,5% 2,2% 2,3% -1,7% -42,8% -1,7% -8,6% BOND_High_Yeld_GL -34% -24% 29% -8,2% -7,2% -0,6% -2,4% * -1,8% -0,6% 1,9% -6,5% -4,6% 1,3% 3,1% -4,5% -27,6% 10,2% 38,1% © MarkeTiming Research (ALL RIGHTS REDERVED) MarkeTiming Selection for the week of 11/5/2020 Stocks FTSE_MIB_(ITALY) Not stable primary Trend. DownTrend in stability mitigation. CAC_40_(FRANCE) Stably aligned primary DownTrend about 0,9%. DAX_(GERMANY) Not stable primary Trend. DownTrend in stability mitigation. Trend in bearish acceleration under 10426 with increasing volatility stance in a range of 4,5% (risk weight). FTSE_100_(UK) Not stable primary Trend. DownTrend in stability mitigation. Dow_ Jones_Ind_Av_(USA) Not stable primary Trend. DownTrend in stability mitigation. Trend in bullish acceleration over 24319 with increasing volatility stance in a range of 3,9% (risk weight). Nasdaq_100_(USA) Stably aligned primary UpTrend about 11,8%. Trend in bullish acceleration over 9224 with increasing volatility stance in a range of 6,1% (risk weight). Nikkei_225_(JAPAN) Not stable primary Trend. DownTrend in stability mitigation. Trend in bullish acceleration over 20179 with increasing volatility stance in a range of 3,6% (risk weight). Hang_Seng_(HONG KONG) Stably aligned primary DownTrend about -0,2%. Shanghai_Comp_(CHINA) Not stable primary Trend. DownTrend in stability mitigation. Trend in bullish acceleration over 2903 with increasing volatility stance in a range of 2,5% (risk weight). BSE_Sensex_(INDIA) Not stable primary Trend. DownTrend in stability mitigation. RTSI_(RUSSIA) Not stable primary Trend. DownTrend in stability mitigation. Ibovespa_(BRAZIL) Not stable primary Trend. DownTrend in stability mitigation. Currency & Comodity EUR/USD Stably aligned primary DownTrend about -0,9%. Gold Not stable primary Trend. UpTrend in stability mitigation. Crude_Oil_WTI Not stable primary Trend. DownTrend in stability mitigation. Natural_Gas Not stable primary Trend. Agricolture Stably aligned primary UpTrend about 4,7%. Trend in bullish acceleration with increasing volatility stance in a range of 2,5% (risk weight). Bond BGOV_ITA_BTP Not stable primary Trend. DownTrend in stability mitigation. Trend in bullish acceleration with increasing volatility stance in a range of -1,6% (risk weight). BGOV_GERM_BUND Almost stable primary UpTrend about 1,2%. BGOV_UK_GILT Stably aligned primary UpTrend about 1,2%. Trend in bullish acceleration with increasing volatility stance in a range of 2,9% (risk weight). BGOV_USA_Treasury Not stable primary Trend. UpTrend in stability mitigation. BGOV_Emerg_Mrkt_Loc Not stable primary Trend. DownTrend in stability mitigation. Trend in bullish acceleration with increasing volatility stance in a range of 3,4% (risk weight). BOND_Corp_Europa Not stable primary Trend. DownTrend in stability mitigation. BOND_Corp_Usa Not stable primary Trend. UpTrend in stability mitigation. BOND_Corp_Emerg Stable Down Trend but without relevant performance. BOND_High_Yeld_GL Almost stable primary DownTrend about -2,4%. © MarkeTiming Research (ALL RIGHTS REDERVED) MarkeTiming Selection for the week of 4/5/2020 This Report is a rappresentative study of markets stance and does not constitute an investment advisory service. MARKET SELECTION weekly outlook TREND STABILITY PRIMARY TREND trend evolution VOLATILITY STANCE range evolution VOLATILITY DINAMIC volatility evolution TIMING RESISTENCE SUPPORT POWER Stability Trend Return Risk Dynamic Timing Power LONG TERM MEDIUM TERM SHORT TERM 17/apr 24/apr 01/mag 17/apr 24/apr 01/mag 17/apr 24/apr 01/mag 01/mag 01/mag 01/mag Stocks FTSE_MIB_(ITALY) -43% -2% -18,4% * -15,1% * 1,6% 8,0% -3,2% -1,2% 4,9% 10,0% -2,6% -3,5% 6,5% -27,0% * -26,1% 11,3% -114,1% * -5,4% CAC_40_(FRANCE) 12% -16,1% -12,1% 2,3% 10,1% -0,2% -2,3% 4,1% 8,8% -5,7% -3,9% 5,8% -12,1% -21,3% 7,0% -4,6% DAX_(GERMANY) 16% -20% -11,8% -8,6% 2,1% 14,0% 0,6% -2,7% 5,1% 13,1% 4,7% -3,9% 6,6% -16,7% 10,8% -24,4% -53,5% FTSE_100_(UK) -17% -16,1% -11,1% 1,3% 6,4% -1,0% -0,6% 0,2% 8,4% 5,5% -3,2% 2,6% -4,1% -11,6% 11,8% -18,7% -50,3% Dow_ Jones_Ind_Av_(USA) 15% 51% -8,7% -6,3% 2,3% 12,7% 2,2% -1,8% -0,3% 8,7% 4,9% -4,9% -4,4% * -10,7% 2,6% -7,2% -11,7% Nasdaq_100_(USA) 100% 19% 49% 7,0% * 2,6% * 3,4% 16,0% 7,2% * -0,5% -0,6% * 11,2% 8,3% * 5,7% -3,8% -8,9% 14,2% -28,9% * -16,2% Nikkei_225_(JAPAN) 12% -9,0% -6,8% 1,8% 10,1% 2,0% -3,2% * 1,9% 9,3% 4,6% -4,8% 4,8% 6,7% * 23,3% -14,4% 3,4% Hang_Seng_(HONG KONG) 13% -6,9% -5,4% 1,1% 6,1% 0,3% -2,3% 3,4% 6,5% 2,3% -4,2% 3,3% -11,1% -42,0% -1,6% -5,2% 38,7% Shanghai_Comp_(CHINA) -29% 19% -3,3% -3,0% 0,0% * 3,5% 1,5% -1,1% 1,8% 3,8% 2,9% -1,8% 3,8% -23,4% 40,7% * -8,5% -77,5% 4,5% 50,3% BSE_Sensex_(INDIA) 26% 9% 13% -13,3% -10,1% 4,3% * 22,2% * 1,4% -0,8% 7,6% * 16,7% * 5,4% -5,3% * 6,8% 5,7% -53,0% * 26,7% * 23,2% * 39,0% RTSI_(RUSSIA) -1% -16,9% -14,6% 2,0% 7,2% -5,5% * 0,2% * 4,0% 16,0% -10,2% * 11,0% * 7,8% * -4,6% -40,1% 26,7% -11,3% -4,0% Ibovespa_(BRAZIL) -34% -6,2% -5,1% 3,9% 0,0% * 0,0% 0,0% 0,0% -4,0% * -4,0% -4,0% -4,0% 0,0% -97,5% Currency & Comodity EUR/USD -2% 39% 86% -1,4% -1,0% 0,0% 1,6% -0,6% -0,6% 1,5% 2,7% -1,6% -1,6% 1,9% 6,8% -12,6% -3,1% 34,8% 3,4% 58,3% Gold 6% -31% 11,1% * 6,4% * -0,2% 3,5% -3,3% 2,7% -1,9% -7,0% -5,5% 5,6% -4,0% -12,4% -8,4% -11,5% -27,7% Crude_Oil_WTI -95% -59% 30% -10% -67,6% * -60,4% * -17,6% * -32,4% * -21,7% -6,6% 15,3% -100,6% -33,3% -91,7% 59,9% -57,6% -27,7% -138,5% 26,6% -7,3% Natural_Gas 26% -11,6% 2,1% 5,0% * 14,5% * 0,7% -1,8% 9,3% 24,6% 14,6% -13,9% 13,0% 15,1% 33,3% 31,7% -2,2% Agricolture 3% 8% 100% -3% 1,8% 1,4% 1,4% 4,6% 3,0% 0,6% -0,6% 5,4% 4,6% 2,4% 1,7% 18,6% 50,2% -2,7% 6,8% -2,5% Bond BGOV_ITA_BTP -3,0% -2,1% 0,5% -1,0% -1,1% -0,4% 0,8% -4,9% -2,7% 2,6% 0,7% -8,7% 1,7% -34,3% BGOV_GERM_BUND 3% 41% 0,5% 0,7% 0,4% 1,0% 0,9% 0,1% 0,8% 2,2% 1,7% 0,8% 1,2% 24,6% 27,2% 8,8% 58,9% BGOV_UK_GILT 21% 46% 5,5% 4,1% * 0,7% 1,8% -0,2% 0,5% 0,3% 3,9% 1,7% 3,4% 1,5% 38,8% 18,6% 113,0% -7,8% 9,6% BGOV_USA_Treasury 20% -19% 5,7% * 3,7% 0,2% -0,3% 0,5% 0,4% -0,5% 2,1% 1,2% 0,7% -0,6% 1,9% -77,8% -11,1% -27,5% BGOV_Emerg_Mrkt_Loc 20% 49% -11% -34% -9,1% -6,1% 1,0% * 5,3% 0,3% -1,1% 1,3% 5,6% 2,9% -1,7% 3,2% -7,9% 13,1% -35,9% -15,3% -7,2% BOND_Corp_Europa 15% 51% -15% -2,6% -1,2% 0,9% 3,9% -0,5% 0,4% 0,7% 3,9% 3,4% 1,3% 0,8% 47,4% 44,8% 26,6% -21,3% BOND_Corp_Usa 13% 24% -14% 3,3% 2,6% 0,4% 6,3% 1,4% -1,2% 0,0% 7,4% 4,9% -2,2% -1,2% 12,6% 29,3% -28,9% -19,2% BOND_Corp_Emerg 24% -12,8% * -8,6% 0,3% 6,3% * 0,5% -2,0% 0,4% 8,0% 5,6% -3,5% 2,2% 36,4% 46,2% -42,8% -1,7% BOND_High_Yeld_GL -43% -16% -21% -9,4% -9,0% * -2,6% * -4,2% * -1,8% -1,8% -0,6% -6,4% -3,3% -4,6% 1,3% -27,4% -16,7% -27,6% -4,3% © MarkeTiming Research (ALL RIGHTS REDERVED) MarkeTiming Selection for the week of 4/5/2020 Stocks FTSE_MIB_(ITALY) Not stable primary Trend. DownTrend in stability mitigation.Trend in bullish acceleration over 18302with increasing volatility stance in a range of 6,4% (risk weight). CAC_40_(FRANCE) Not stable primary Trend. DownTrend in stability mitigation.Trend in bullish acceleration over 4719with increasing volatility stance in a range of 5,8% (risk weight). DAX_(GERMANY) Not stable primary Trend. DownTrend in stability mitigation.Trend in bullish acceleration over 11235with increasing volatility stance in a range of 6,6% (risk weight). FTSE_100_(UK) Not stable primary Trend. DownTrend in stability mitigation.Trend in bearish acceleration under 5746with increasing volatility stance in a range of 2,6% (risk weight). Dow_ Jones_Ind_Av_(USA) Not stable primary Trend. DownTrend in stability mitigation. Nasdaq_100_(USA) Almost stable primary UpTrend about 15,9%. Nikkei_225_(JAPAN) Not stable primary Trend. DownTrend in stability mitigation.Trend in bearish acceleration under 19410with increasing volatility stance in a range of 4,7% (risk weight). Hang_Seng_(HONG KONG) Not stable primary Trend. DownTrend in stability mitigation.Trend in bullish acceleration over 24855with increasing volatility stance in a range of 3,3% (risk weight). Shanghai_Comp_(CHINA) Not stable primary Trend. DownTrend in stability mitigation.Trend in bullish acceleration over 2865with increasing volatility stance in a range of 3,7% (risk weight). BSE_Sensex_(INDIA) Not stable primary Trend. DownTrend in stability mitigation.Trend in bullish acceleration over 33887with increasing volatility stance in a range of 6,7% (risk weight). RTSI_(RUSSIA) Not stable primary Trend. DownTrend in stability mitigation.Trend in bullish acceleration over 1169with increasing volatility stance in a range of 7,7% (risk weight). Ibovespa_(BRAZIL) Not stable primary Trend. DownTrend in stability mitigation. Currency & Comodity EUR/USD Stable Down Trend but without relevant performance. Trend in bullish acceleration over 1,1017with increasing volatility stance in a range of 1,8% (risk weight). Gold Not stable primary Trend. UpTrend in stability mitigation. Crude_Oil_WTI Almost stable primary DownTrend about -32,4%. Natural_Gas Not stable primary Trend. Trend in bullish acceleration over 2,01with increasing volatility stance in a range of 12,9% (risk weight). Agricolture Almost stable primary UpTrend about 4,5%. Bond BGOV_ITA_BTP Not stable primary Trend. DownTrend in stability mitigation. BGOV_GERM_BUND Stable Up Trend but without relevant performance. Trend in bullish accelerationwith increasing volatility stance in a range of 1,1% (risk weight). BGOV_UK_GILT Stably aligned primary UpTrend about 1,8%. Trend in bearish accelerationwith increasing volatility stance in a range of 1,5% (risk weight). BGOV_USA_Treasury Stable Up Trend but without relevant performance. BGOV_Emerg_Mrkt_Loc Not stable primary Trend. DownTrend in stability mitigation.Trend in bullish accelerationwith increasing volatility stance in a range of 3,1% (risk weight). BOND_Corp_Europa Not stable primary Trend. DownTrend in stability mitigation.Trend in bearish accelerationwith reducing volatility stance in a range of 0,8% (risk weight). BOND_Corp_Usa Almost stable primary UpTrend about 6,2%. BOND_Corp_Emerg Not stable primary Trend. DownTrend in stability mitigation.Trend in bearish accelerationwith increasing volatility stance in a range of 2,1% (risk weight). BOND_High_Yeld_GL Stably aligned primary DownTrend about -4,2%. Trend in bearish accelerationwith reducing volatility stance in a range of 1,2% (risk weight). © MarkeTiming Research (ALL RIGHTS REDERVED) MarkeTiming Selection for the week of 27/4/2020 This Report is a rappresentative study of markets stance and does not constitute an investment advisory service. MARKET SELECTION weekly outlook TREND STABILITY PRIMARY TREND trend evolution VOLATILITY STANCE range evolution VOLATILITY DINAMIC volatility evolution TIMING RESISTENCE SUPPORT POWER Stability Trend Return Risk Dynamic Timing Power LONG TERM MEDIUM TERM SHORT TERM 10/apr 17/apr 24/apr 10/apr 17/apr 24/apr 10/apr 17/apr 24/apr 24/apr 24/apr 24/apr Stocks FTSE_MIB_(ITALY) -45% 7% -22,3% * -20,0% -1,3% * 0,2% 7,6% -3,2% -1,2% 8,8% 5,7% -2,6% -3,5% -11,1% -41,4% -26,1% 11,3% 3,3% CAC_40_(FRANCE) 4% -19,2% -16,3% 0,6% 1,0% 8,5% -0,2% -2,3% 9,8% 4,7% -5,7% -3,9% -17,1% * -22,3% -21,3% 7,0% DAX_(GERMANY) 14% -14% -14,6% -12,3% 1,9% 7,3% 10,9% 0,6% -2,7% 14,3% 7,8% 4,7% -3,9% -4,4% 18,1% 10,8% -24,4% FTSE_100_(UK) 7% -18,1% -14,0% 1,2% 4,4% 7,9% -1,0% -0,6% 9,4% 7,6% 5,5% -3,2% 0,0% -0,1% -11,6% 11,8% Dow_ Jones_Ind_Av_(USA) 20% -4% -11,5% -9,7% 2,5% 10,0% 12,7% 2,2% -1,8% 15,2% 5,6% 4,9% -4,9% -8,3% -19,2% 2,6% -7,2% Nasdaq_100_(USA) 10% 31% 100% -17% 4,9% * 0,4% * 4,7% * 15,8% * 9,4% 7,2% * -0,5% 17,4% -3,3% 8,3% * 5,7% -4,8% -1,1% 14,2% -28,9% * 0,0% Nikkei_225_(JAPAN) -9% -11,3% -10,0% 1,3% -0,7% * 9,4% 2,0% -3,2% * 11,8% 4,9% 4,6% -4,8% 1,8% 13,1% 23,3% -14,4% Hang_Seng_(HONG KONG) -1% -31% -9,3% -8,1% 0,3% 1,5% 4,6% 0,3% -2,3% 6,8% 4,3% 2,3% -4,2% -7,8% 19,8% -42,0% -1,6% -8,0% -38,1% Shanghai_Comp_(CHINA) -5% -3,1% -3,1% 1,0% 1,3% 1,2% 1,5% -1,1% 4,8% -1,5% 2,9% -1,8% -4,6% -78,1% * 40,7% * -8,5% 0,0% BSE_Sensex_(INDIA) 10% 16% -17,2% -15,0% 3,6% 5,1% 12,9% * 1,4% -0,8% 14,8% 8,5% * 5,4% -5,3% * 0,9% 12,4% -53,0% * 26,7% * RTSI_(RUSSIA) -45% 26% 16% -4% -21,7% -20,5% * -1,0% 13,2% 8,8% -5,5% * 0,2% * 22,4% * 7,6% -10,2% * 11,0% * 5,7% * 30,7% * -40,1% 26,7% -5,6% Ibovespa_(BRAZIL) -65% -6,6% -6,1% 3,9% 0,0% 0,0% * 0,0% 0,0% -4,0% * -4,0% * -4,0% -4,0% 0,0% -97,5% Currency & Comodity EUR/USD -2% -7% -49% -2% -4% -1,9% -1,6% -0,6% -3,0% 1,2% -0,6% -0,6% -3,8% 1,5% -1,6% -1,6% -4,7% 8,9% -12,6% -3,1% -4,0% Gold 12% 15% -6% 11,8% * 7,4% * 1,4% 6,7% 6,3% -3,3% 2,7% 12,0% 4,8% -5,5% 5,6% -4,6% -6,1% -8,4% -11,5% 2,6% Crude_Oil_WTI -83% -50% -74% 47% -66,1% * -60,2% * -19,4% * -22,3% * -19,9% -21,7% -6,6% -96,6% -20,8% -33,3% -91,7% -25,6% -33,8% -27,7% -138,5% 46,2% Natural_Gas 7% 17% -42% -14,4% -1,8% 6,4% * 3,3% 5,9% 0,7% -1,8% 25,0% -10,1% 14,6% -13,9% 11,9% 9,0% 33,3% 31,7% 1,4% -42,4% Agricolture 3% 21% 51% -1% -7% 1,6% 1,2% 2,8% 9,1% * 1,5% 3,0% 0,6% 11,0% 1,8% 4,6% 2,4% 19,6% -31,4% 50,2% -2,7% -6,7% Bond BGOV_ITA_BTP -18% -12% -10% 44% -4,8% -4,1% -1,7% -3,7% -0,3% -1,1% -0,4% -5,9% -1,7% -2,7% 2,6% -8,7% -1,1% 1,7% -34,3% 5,6% 42,3% BGOV_GERM_BUND 1% 3% 0,2% 0,5% 0,2% 0,6% -0,8% 0,9% 0,1% 2,0% -0,7% 1,7% 0,8% 15,9% 8,9% 27,2% 8,8% BGOV_UK_GILT 16% 7% 34% 56% 5,1% 3,9% 0,5% 2,1% 1,2% -0,2% 0,5% -3,6% 2,4% 1,7% 3,4% 43,8% 27,2% 18,6% 113,0% 0,3% 61,1% BGOV_USA_Treasury 19% -3% 6,2% * 4,4% * 0,4% 0,2% -0,7% 0,5% 0,4% 2,1% 1,0% 1,2% 0,7% 13,6% 47,1% -77,8% -11,1% BGOV_Emerg_Mrkt_Loc 10% -11% -9,9% -7,4% 1,4% 3,0% 4,8% 0,3% -1,1% 5,9% 3,5% 2,9% -1,7% -2,9% 13,7% 13,1% -35,9% -1,9% BOND_Corp_Europa 9% 8% -3,6% -2,3% 0,8% 2,7% 3,3% -0,5% 0,4% 4,6% 3,1% 3,4% 1,3% 57,2% 75,6% 44,8% 26,6% BOND_Corp_Usa 15% 27% 100% -9% 3,7% 3,0% 2,1% * 8,1% * 6,1% 1,4% -1,2% 10,5% 6,0% 4,9% -2,2% 20,6% 38,6% 29,3% -28,9% BOND_Corp_Emerg 18% -13% -13,0% * -9,4% * 1,8% 5,3% 7,4% 0,5% -2,0% 11,2% 8,1% 5,6% -3,5% 59,3% 97,6% 46,2% -42,8% BOND_High_Yeld_GL -30% -17% -8% -7,7% -7,7% -1,8% * -5,1% * 0,0% * -1,8% -1,8% -7,9% 1,5% -3,3% -4,6% -23,2% -43,0% -16,7% -27,6% -1,7% © MarkeTiming Research (ALL RIGHTS REDERVED) MarkeTiming Selection for the week of 27/4/2020 Stocks FTSE_MIB_(ITALY) Stably aligned primary DownTrend about 0,2%. CAC_40_(FRANCE) Not stable primary Trend. DownTrend in stability mitigation. DAX_(GERMANY) Not stable primary Trend. DownTrend in stability mitigation. FTSE_100_(UK) Not stable primary Trend. DownTrend in stability mitigation. Dow_ Jones_Ind_Av_(USA) Not stable primary Trend. DownTrend in stability mitigation. Nasdaq_100_(USA) Almost stable primary UpTrend about 15,7%. Nikkei_225_(JAPAN) Not stable primary Trend. DownTrend in stability mitigation. Hang_Seng_(HONG KONG) Not stable primary Trend. DownTrend in stability mitigation. Shanghai_Comp_(CHINA) Not stable primary Trend. DownTrend in stability mitigation. BSE_Sensex_(INDIA) Not stable primary Trend. DownTrend in stability mitigation. RTSI_(RUSSIA) Stably aligned primary DownTrend about 13,1%. Trend in bearish acceleration with increasing volatility stance in a range of 11% (risk weighting level). Ibovespa_(BRAZIL) Not stable primary Trend. DownTrend in stability mitigation. Currency & Comodity EUR/USD Stably aligned primary DownTrend about -2,9%. Trend in bearish accelerationwith increasing volatility stance in a range of -1,5% (risk weighting level). Gold Stably aligned primary UpTrend about 6,6%. Trend in bullish accelerationwith increasing volatility stance in a range of 5,5% (risk weighting level). Crude_Oil_WTI Stably aligned primary DownTrend about -22,2%. Trend in bullish accelerationwith increasing volatility stance in a range of -91,7% (risk weighting level). Natural_Gas Not stable primary Trend. DownTrend in stability mitigation. Agricolture Almost stable primary UpTrend about 9,1%. Trend in bearish accelerationwith reducing volatility stance in a range of 2,4% (risk weighting level). Bond BGOV_ITA_BTP Stably aligned primary DownTrend about -3,7%. Trend in bearish accelerationwith increasing volatility stance in a range of 2,5% (risk weighting level). BGOV_GERM_BUND Stable Up Trend but without relevant performance. Trend in bearish accelerationwith increasing volatility stance in a range of 0,7% (risk weighting level). BGOV_UK_GILT Stably aligned primary UpTrend about 2,1%. Trend in bearish accelerationwith increasing volatility stance in a range of 3,3% (risk weighting level). BGOV_USA_Treasury Stably aligned primary UpTrend about 0,2%. BGOV_Emerg_Mrkt_Loc Not stable primary Trend. DownTrend in stability mitigation. BOND_Corp_Europa Not stable primary Trend. DownTrend in stability mitigation.Trend in bearish accelerationwith increasing volatility stance in a range of 1,2% (risk weighting level). BOND_Corp_Usa Stably aligned primary UpTrend about 8,1%. BOND_Corp_Emerg Not stable primary Trend. DownTrend in stability mitigation. BOND_High_Yeld_GL Stably aligned primary DownTrend about -5%. Trend in bullish accelerationwith increasing volatility stance in a range of -4,6% (risk weighting level). © MarkeTiming Research (ALL RIGHTS REDERVED) MarkeTiming Selection for the week of 20/4/2020 This Report is a rappresentative study of markets stance and does not constitute an investment advisory service. MARKET SELECTION weekly outlook TREND STABILITY PRIMARY TREND trend evolution VOLATILITY STANCE range evolution VOLATILITY DINAMIC volatility evolution TIMING RESISTENCE SUPPORT POWER Stability Trend Return Risk Dynamic Timing Power LONG TERM MEDIUM TERM SHORT TERM 03/apr 10/apr 17/apr 03/apr 10/apr 17/apr 03/apr 10/apr 17/apr 17/apr 17/apr 17/apr Stocks FTSE_MIB_(ITALY) -9% -19,8% * -18,4% 2,5% 8,41% -2,61% 7,55% -3,21% 15,87% -3,62% 5,74% -2,64% -25,80% * -2,44% -41,44% -26,05% CAC_40_(FRANCE) -7% -5% -19,0% -16,9% 2,2% 11,12% -4,53% 8,48% -0,17% 16,40% -7,55% 4,66% -5,72% -6,41% -22,31% -21,28% -5,34% DAX_(GERMANY) 17% 4% -13,7% -12,1% 5,6% 19,00% -1,11% 10,91% 0,58% 23,04% -4,93% 7,83% 4,71% 14,60% * 18,12% 10,78% FTSE_100_(UK) -4% -19,1% -15,6% 1,8% 11,49% -1,74% 7,89% -0,95% 17,10% -3,87% 7,57% 5,49% 2,08% -0,10% -11,62% Dow_ Jones_Ind_Av_(USA) 24% 1% -11,4% -10,2% 5,9% 26,43% * -2,70% 12,67% 2,21% 26,66% -7,99% 5,59% 4,90% -3,16% 0,18% -19,21% 2,58% Nasdaq_100_(USA) 24% 5% 4,2% * -0,4% * 7,6% * 26,28% -0,79% 9,44% 7,21% * 26,01% -7,55% -3,32% 8,31% * 4,78% -2,15% -1,14% 14,18% Nikkei_225_(JAPAN) 19% 100% 8% -11,1% -10,6% 2,9% 20,20% -8,09% * 9,42% 2,05% 18,04% -9,05% * 4,90% 4,63% 6,04% -42,33% * 13,10% 23,26% Hang_Seng_(HONG KONG) -15% -8,6% -7,7% 2,6% 6,91% -1,06% 4,58% 0,33% 12,38% 2,21% 4,31% 2,28% -8,38% 0,93% 19,82% -41,99% Shanghai_Comp_(CHINA) 14% -3,9% -4,0% 1,1% * 3,38% -0,30% 1,18% 1,50% 7,10% 2,19% -1,52% 2,86% -1,73% 15,26% -78,12% * 40,69% * BSE_Sensex_(INDIA) -19% -18,8% -17,4% 4,9% 5,59% -7,46% 12,93% * 1,38% 20,17% -7,73% 8,53% * 5,44% -1,98% -2,26% 12,41% -53,01% * RTSI_(RUSSIA) 15% -14% -4% -19,4% -19,1% * 5,2% 16,71% 9,90% * 8,78% -5,55% * 29,02% * 14,13% * 7,64% -10,22% * -5,95% 18,09% * 30,75% * -40,06% -4,41% Ibovespa_(BRAZIL) -91% -7,0% -7,0% 3,9% 0,00% * 0,00% 0,00% * 0,00% -4,04% * -4,04% -4,04% * -4,04% 0,00% -97,45% Currency & Comodity EUR/USD -1% -10% 8% -1,3% -1,1% -0,1% 1,69% -3,03% 1,23% -0,57% 3,88% -3,37% 1,54% -1,63% 4,47% -6,90% 8,91% -12,56% 9,81% Gold 15% 27% 100% -6% 6% 13,8% * 9,7% * 4,2% * 12,89% * 1,11% 6,31% -3,32% 13,42% -5,58% 4,81% -5,51% 14,59% 7,08% -6,13% -8,35% 8,11% Crude_Oil_WTI -65% -49% -21% -43% -59,2% * -53,6% * -8,5% * -23,16% * 32,65% -19,88% -21,67% -48,17% 40,78% -20,83% -33,31% 11,04% 96,37% -33,79% -27,65% -54,28% Natural_Gas -19% 24% 25% 43% -22,7% -11,8% -1,1% 11,39% -1,37% 5,88% 0,74% 22,16% 12,46% -10,13% 14,60% 6,71% -2,74% 9,03% 33,27% 6,54% 48,33% Agricolture 38% 0,1% -0,2% 3,4% 5,93% 3,73% 1,52% 2,95% 13,55% 6,62% 1,85% 4,64% 24,01% 0,76% -31,45% 50,24% Bond BGOV_ITA_BTP -13% 1% -3,3% -2,8% -1,0% -1,59% -1,93% -0,34% -1,12% -5,18% -1,75% -1,74% -2,68% 11,65% -1,06% 1,67% -2,72% BGOV_GERM_BUND 10% 79% -0,1% 0,3% 0,2% 0,87% 0,42% -0,84% 0,94% 2,34% 1,16% -0,70% 1,66% 17,46% 31,08% 8,87% 27,23% 25,05% 52,60% BGOV_UK_GILT 18% 7% 3% 5,0% 4,2% 0,8% 3,32% 0,61% 1,22% -0,20% 4,30% -3,49% 2,42% 1,74% 16,16% -19,23% 27,16% 18,56% 3,02% BGOV_USA_Treasury 19% -28% 7% 6,0% * 4,4% * 0,2% 1,70% 0,00% -0,71% 0,54% 2,53% 0,89% 0,96% 1,25% 17,75% -3,96% 47,06% -77,78% 7,00% BGOV_Emerg_Mrkt_Loc 9% 5% -10,4% -8,3% 2,3% 4,03% -0,84% 4,76% 0,25% 8,63% -2,41% 3,46% 2,87% 15,32% 13,66% 13,10% 1,03% BOND_Corp_Europa 16% -3,6% -2,5% 1,6% 3,80% -0,51% 3,28% -0,48% 8,55% -1,41% 3,14% 3,36% 69,44% 75,59% 44,82% -1,12% BOND_Corp_Usa 21% 47% 100% 11% 8% 3,9% 3,3% 4,4% 21,72% * 1,69% 6,14% 1,37% 22,07% 3,87% 6,01% 4,92% 40,85% 38,61% 29,28% 7,46% BOND_Corp_Emerg 34% 17% 4% -12,3% * -9,2% * 5,3% * 15,94% -0,50% 7,42% 0,53% 18,28% 4,01% 8,09% 5,61% 60,84% 97,65% 46,20% 3,60% BOND_High_Yeld_GL -28% -11% -6% -6,7% -7,0% -2,0% * -4,97% * -1,49% 0,00% * -1,81% -8,33% -2,97% 1,50% -3,35% -22,76% -13,82% -42,97% -16,67% © MarkeTiming Research (ALL RIGHTS REDERVED) MarkeTiming Selection for the week of 20/4/2020 Stocks FTSE_MIB_(ITALY) Not stable primary Trend. DownTrend in stability mitigation. CAC_40_(FRANCE) Not stable primary Trend. DownTrend in stability mitigation. DAX_(GERMANY) Not stable primary Trend. DownTrend in stability mitigation. Trend in bearish acceleration with reducing volatility stance in a range of 0,5%. FTSE_100_(UK) Not stable primary Trend. DownTrend in stability mitigation. Dow_ Jones_Ind_Av_(USA) Not stable primary Trend. DownTrend in stability mitigation. Trend in bearish acceleration with reducing volatility stance in a range of 2,2%. Nasdaq_100_(USA) Not stable primary Trend. Trend in bullish acceleration with increasing volatility stance in a range of 7,2%. Nikkei_225_(JAPAN) Not stable primary Trend. DownTrend in stability mitigation. Trend in bearish acceleration with increasing volatility stance in a range of 2%. Hang_Seng_(HONG KONG) Not stable primary Trend. DownTrend in stability mitigation. Trend in bearish acceleration with reducing volatility stance in a range of 0,3%. Shanghai_Comp_(CHINA) Not stable primary Trend. DownTrend in stability mitigation. Trend in bullish acceleration with increasing volatility stance in a range of 1,4%. BSE_Sensex_(INDIA) Not stable primary Trend. DownTrend in stability mitigation. Trend in bearish acceleration with increasing volatility stance in a range of 1,3%. RTSI_(RUSSIA) Not stable primary Trend. DownTrend in stability mitigation. Ibovespa_(BRAZIL) Not stable primary Trend. DownTrend in stability mitigation. Currency & Comodity EUR/USD Stable Down Trend but without relevant performance Gold Stable primary UpTrend about 12,8%. Crude_Oil_WTI Stable primary DownTrend about -23,1%. Trend in bullish acceleration with increasing volatility stance in a range of -21,6%. Natural_Gas Stable primary DownTrend about 11,3%. Trend in bearish acceleration with increasing volatility stance in a range of 0,7%. Agricolture Not stable primary Trend. Trend in bullish acceleration with increasing volatility stance in a range of 2,9%. Bond BGOV_ITA_BTP Stable Down Trend but without relevant performanceTrend in bullish acceleration with increasing volatility stance in a range of -1,1%. BGOV_GERM_BUND Not stable primary Trend. BGOV_UK_GILT Stable Up Trend but without relevant performance. BGOV_USA_Treasury Stable Up Trend but without relevant performance. Trend in bullish acceleration with increasing volatility stance in a range of 0,5%. BGOV_Emerg_Mrkt_Loc Not stable primary Trend. DownTrend in stability mitigation. Trend in bearish acceleration with increasing volatility stance in a range of 0,2%. BOND_Corp_Europa Not stable primary Trend. DownTrend in stability mitigation. BOND_Corp_Usa Stable primary UpTrend about 21,7%. Trend in bearish acceleration with reducing volatility stance in a range of 1,3%. BOND_Corp_Emerg Not stable primary Trend. DownTrend in stability mitigation. Trend in bearish acceleration with increasing volatility stance in a range of 0,5%. BOND_High_Yeld_GL Stable primary DownTrend about -4,9%. Trend in bullish acceleration with increasing volatility stance in a range of -1,8%. © MarkeTiming Research (ALL RIGHTS REDERVED) MarkeTiming Selection for the week of 13/4/2020 This Report is a rappresentative study of markets stance and does not constitute an investment advisory service. MARKET SELECTION weekly outlook TREND STABILITY PRIMARY TREND trend evolution VOLATILITY STANCE range evolution VOLATILITY DINAMIC volatility evolution TIMING RESISTENCE SUPPORT POWER Stability Trend Trend Volatility High Volatility Timing Power LONG TERM MEDIUM TERM SHORT TERM 27/mar 03/apr 10/apr 27/mar 03/apr 10/apr 27/mar 03/apr 10/apr 10/apr 10/apr 10/apr Stocks FTSE_MIB_(ITALY) 13% -19% -20,9% -20,2% 4,5% 10,49% 6,93% -2,61% 7,55% 22,18% 16,06% -3,62% 5,74% -25,75% * -21,71% * -2,44% -41,44% CAC_40_(FRANCE) 12% -19,5% -18,2% 5,3% 9,43% 7,48% -4,53% 8,48% 21,22% 15,87% -7,55% 4,66% -2,57% 12,96% DAX_(GERMANY) 18% 46% 12% -16,5% -15,7% 7,2% 14,44% 7,88% -1,11% 10,91% 24,87% 16,97% -4,93% 7,83% 11,99% * 13,52% 25,83% FTSE_100_(UK) 11% 15% -19,7% -16,7% 4,3% 8,88% 6,17% -1,74% 7,89% 17,16% 16,03% -3,87% 7,57% 9,47% 13,39% 31,61% Dow_ Jones_Ind_Av_(USA) -9% -12,7% -12,0% 9,0% 2,30% 12,84% -2,70% 12,67% 26,39% 20,51% * -7,99% 5,59% -4,73% 19,87% * 0,18% -19,21% Nasdaq_100_(USA) -1% -0,2% * -4,7% 7,6% 3,04% 8,49% -0,79% 9,44% 20,02% 14,93% -7,55% -3,32% -1,38% -2,15% -1,14% Nikkei_225_(JAPAN) 15% 54% 6% -12,7% -12,8% 5,1% 11,79% 17,14% * -8,09% * 9,42% 17,48% 16,69% -9,05% * 4,90% 3,08% 2,41% -42,33% * 13,10% Hang_Seng_(HONG KONG) 9% 12% -9,9% -9,1% 3,3% 1,11% 2,98% -1,06% 4,58% 13,52% 9,21% 2,21% 4,31% 0,72% -1,20% 0,93% 19,82% 25,92% Shanghai_Comp_(CHINA) -36% -4,0% -4,1% * 1,8% * -3,14% 0,97% -0,30% 1,18% -9,00% 5,40% 2,19% -1,52% -24,77% 15,26% -78,12% * BSE_Sensex_(INDIA) -11% 6% 14% -21,3% * -20,6% * 3,1% -8,63% * -0,34% * -7,46% 12,93% * -24,78% * 18,87% -7,73% 8,53% * 7,29% 6,44% -2,26% 12,41% 30,29% RTSI_(RUSSIA) 19% 14% -18,6% -19,0% 11,6% * 15,16% * 3,37% 9,90% * 8,78% 35,25% * 16,82% 14,13% * 7,64% 7,00% -14,22% 18,09% * 30,75% * Ibovespa_(BRAZIL) -46% -7,3% -7,7% 3,9% 0,00% 0,00% 0,00% 0,00% * -4,04% -4,04% * -4,04% -4,04% * 0,00% -97,45% Currency & Comodity EUR/USD -12% 10% -1,6% -1,4% -0,3% * -1,55% 4,19% -3,03% 1,23% -5,02% 3,88% -3,37% 1,54% -4,82% 48,32% -6,90% 8,91% 0,51% Gold 88% 28% 100% -7% 10% 11,7% * 8,1% * 5,4% 14,57% * 8,62% 1,11% 6,31% 18,48% 8,37% -5,58% 4,81% 8,00% 75,00% 7,08% -6,13% 5,66% Crude_Oil_WTI -58% -38% -20% -51,6% * -46,5% * 4,6% -30,15% * -7,69% 32,65% -19,88% -50,01% -17,64% 40,78% -20,83% 6,13% -31,25% 96,37% -33,79% -10,86% Natural_Gas -14% 10% -69% -17,7% -7,3% 6,0% * -7,32% 5,89% -1,37% 5,88% -22,13% 7,68% 12,46% -10,13% -3,65% -6,14% -2,74% 9,03% 2,03% -39,59% Agricolture -35% -1,8% -2,1% 3,5% -1,23% -2,29% 3,73% 1,52% -17,57% -8,91% 6,62% 1,85% -25,74% 0,76% -31,45% Bond BGOV_ITA_BTP -2,4% -2,1% 0,3% 1,60% 1,83% -1,93% -0,34% 10,08% 3,74% -1,75% -1,74% 0,29% 82,41% BGOV_GERM_BUND -2% -30% 7% -0,5% -0,1% -0,1% -1,95% * 0,36% 0,42% -0,84% -5,37% 1,95% 1,16% -0,70% -4,87% 31,08% 8,87% BGOV_UK_GILT 27% 14% 22% 4,2% 3,5% 1,1% 2,82% 1,66% 0,61% 1,22% 10,92% 2,76% -3,49% 2,42% 19,99% -19,23% 27,16% BGOV_USA_Treasury 32% 11% 33% 37% 5,7% * 4,4% * 0,3% 2,12% 1,88% 0,00% -0,71% 5,22% 2,18% 0,89% 0,96% 22,42% -3,96% 47,06% BGOV_Emerg_Mrkt_Loc 100% -12,0% -10,3% 1,9% 1,33% -0,11% -0,84% 4,76% -10,49% 5,79% -2,41% 3,46% 4,10% 22,52% 31,63% BOND_Corp_Europa -5,1% -4,2% 1,5% 0,62% 1,51% -0,51% 3,28% 11,38% 5,09% -1,41% 3,14% 15,35% BOND_Corp_Usa 50% 37% 0,6% -0,1% 4,9% * 9,73% * 11,25% 1,69% 6,14% 21,19% 14,66% 3,87% 6,01% 23,47% 63,61% BOND_Corp_Emerg 25% -15,6% * -13,2% * 4,7% 4,86% 7,90% -0,50% 7,42% 18,79% 9,76% 4,01% 8,09% 53,95% 12,94% BOND_High_Yeld_GL -39% -34% -5,7% -6,1% -0,9% * 1,22% -1,75% -1,49% 0,00% * 9,80% -4,33% -2,97% 1,50% -9,96% -36,36% -13,82% -42,97% © MarkeTiming Research (ALL RIGHTS REDERVED) MarkeTiming Selection for the week of 6/4/2020 This Report is a rappresentative study of markets stance and does not constitute an investment advisory service. MARKET SELECTION weekly outlook TREND STABILITY PRIMARY TREND trend evolution VOLATILITY STANCE range evolution VOLATILITY DINAMIC volatility evolution TIMING RESISTENCE SUPPORT POWER Stability Trend Low Volatility High Volatility Timing Power LONG TERM MEDIUM TERM SHORT TERM 20/mar 27/mar 03/apr 20/mar 27/mar 03/apr 20/mar 27/mar 03/apr 03/apr 03/apr 03/apr Stocks FTSE_MIB_(ITALY) -16% -9% -24,1% -24,3% 1,4% -21,23% -1,36% 6,93% -2,61% -33,27% -13,10% 16,06% -3,62% -32,85% * -21,71% * -2,44% CAC_40_(FRANCE) -14% -23,3% -22,7% 1,1% -19,16% -1,69% 7,48% -4,53% -31,26% -11,97% 15,87% -7,55% -13,64% -5,46% 12,96% DAX_(GERMANY) -13% -22,3% -22,2% 1,4% -17,47% -3,28% 7,88% -1,11% -29,99% -10,76% 16,97% -4,93% -14,79% 3,56% 13,52% FTSE_100_(UK) -12% -23,3% -20,9% 0,5% -16,20% -3,27% 6,17% -1,74% -26,94% -9,79% 16,03% -3,87% 3,21% 26,43% * 13,39% Dow_ Jones_Ind_Av_(USA) -14% 1% -20,1% -20,0% 0,0% -18,61% -17,30% * 12,84% -2,70% -29,93% -13,63% 20,51% * -7,99% -0,39% -5,26% 19,87% * 0,18% Nasdaq_100_(USA) -29% -14% -6,8% -11,2% 1,2% -11,75% -12,52% 8,49% -0,79% -21,00% -9,69% 14,93% -7,55% 6,07% -1,23% -20,74% Nikkei_225_(JAPAN) -31% -152% -20% -16,2% -17,0% 1,5% -14,12% -5,10% 17,14% * -8,09% * -22,33% -8,20% 16,69% -9,05% * 12,20% 19,73% 2,41% -42,33% * -29,42% Hang_Seng_(HONG KONG) -28% -28% 3% -13,3% -12,6% -0,8% -11,13% -5,11% 2,98% -1,06% -19,95% -10,78% 9,21% -2,21% 10,74% -17,82% -1,20% 0,93% Shanghai_Comp_(CHINA) -15% -18% -6,2% * -6,3% * -1,6% -8,91% -4,91% 0,97% -0,30% -13,29% -8,95% 5,40% -2,19% 13,06% * -38,13% * BSE_Sensex_(INDIA) -58% -20% -8% -25,3% -25,3% -5,0% * -26,57% * -12,28% -0,34% * -7,46% -32,08% -20,47% * -18,87% * -7,73% -6,51% 11,86% 6,44% -2,26% RTSI_(RUSSIA) -12% 65% -27,5% * -28,4% * 1,0% -16,54% -6,80% 3,37% 9,90% * -37,81% * -19,79% 16,82% 14,13% * -9,63% 5,25% -14,22% 18,09% * Ibovespa_(BRAZIL) 6% -66% -7,5% -8,2% 3,9% * 0,00% * 0,00% * 0,00% 0,00% 4,04% * 4,04% * 4,04% 4,04% 0,00% -97,45% Currency & Comodity EUR/USD -1% -12% -7% -42% -1,0% -0,7% -0,4% -4,24% -3,74% 4,19% -3,03% -7,44% -5,00% 3,88% -3,37% -11,44% -46,62% 48,32% -6,90% -11,49% -38,60% Gold 8% -24% 7% 14% 7,2% * 4,1% * 2,1% * -1,53% * -1,88% 8,62% 1,11% -14,84% -8,10% 8,37% 5,58% -2,38% -29,84% 75,00% 7,08% -9,88% 26,65% Crude_Oil_WTI -73% -100% 96% 68% -57,8% * -54,3% * -14,6% * -30,38% * -28,80% -7,69% 32,65% -58,45% -40,53% -17,64% 40,78% 3,50% -14,97% -31,25% 96,37% 33,09% 47,25% Natural_Gas -29% -39% -3% 18% -26,3% -17,9% -5,4% -4,68% -16,18% 5,89% -1,37% -23,82% -16,91% 7,68% -12,46% 7,72% -23,70% -6,14% -2,74% 21,43% Agricolture -6% -37% -4,7% -5,1% -0,6% -9,54% -4,01% -2,29% 3,73% -22,63% -17,70% -8,91% 6,62% -14,94% -32,67% Bond BGOV_ITA_BTP -51% -1,6% -1,4% 1,1% -3,14% 2,08% 1,83% -1,93% -10,49% 7,81% 3,74% -1,75% -40,37% -18,88% 82,41% BGOV_GERM_BUND -33% 0,2% 0,6% -0,2% -2,20% -1,89% 0,36% 0,42% -6,86% -5,34% 1,95% 1,16% -31,89% -57,18% BGOV_UK_GILT 55% 4,5% 3,9% 1,0% -1,00% -0,69% 1,66% 0,61% -12,85% -8,61% 2,76% 3,49% 2,31% 25,90% BGOV_USA_Treasury 79% 30% 6,7% * 5,5% * 1,3% 0,64% * 0,95% 1,88% 0,00% 6,17% 4,38% 2,18% 0,89% -29,03% -1,64% BGOV_Emerg_Mrkt_Loc -165% -31% -14,3% -12,9% -1,0% * -11,13% -2,35% -0,11% -0,84% -16,84% -10,49% -5,79% -2,41% 2,84% -43,01% 22,52% BOND_Corp_Europa -68% -19% -6,2% -5,4% -0,1% -6,64% -3,53% 1,51% -0,51% -14,14% -10,35% 5,09% -1,41% -55,51% -44,90% BOND_Corp_Usa -16% -2,1% -2,9% 3,0% * -5,83% -8,62% 11,25% 1,69% -19,94% -12,26% 14,66% 3,87% -33,25% -34,45% 63,61% BOND_Corp_Emerg -34% -18,8% * -17,1% * 0,7% -11,96% * -9,08% 7,90% -0,50% -21,75% -8,41% 9,76% -4,01% -30,92% 4,85% 12,94% BOND_High_Yeld_GL -46% -100% -100% -5,0% -5,5% 0,2% -1,19% 4,59% -1,75% -1,49% -9,40% 8,17% -4,33% -2,97% -10,58% 17,02% -36,36% -13,82% -1,04% © MarkeTiming Research (ALL RIGHTS REDERVED) MARKET ALLOCATION al 30/3/2020 Il presente Report è uno studio esemplificativo e non costituisce servizio di consulenza di investimento. MARKET ALLOCATION VOLATILITY MAX RANGE % PERFORMANCE% Trend Stability Risk Return Timing Power% W1 M1 W1 M1 M3 M6 Y1 FTSE MIB (ITALIA) -16% 16,43% -46,26% 6,72% -19,19% -30,11% -23,47% -20,77% CAC 40 (FRANCIA) -11% 16,28% -41,63% 7,64% -16,20% -28,72% -23,04% -18,95% DAX (GERMANIA) -11% 17,44% -39,99% 7,96% -16,64% -29,38% -21,94% -16,41% FTSE 100 (INGHILTERRA) -14% 16,47% -33,95% 4,92% -15,96% -28,01% -25,73% -24,84% * Dow Jones Ind Av (USA) 21,07% * -39,13% 12,44% -14,89% -25,57% -19,90% -16,06% Nasdaq 100 (USA) 15,28% -28,50% 8,76% -8,89% -16,71% -1,79% * 4,16% * Nikkei 225 (GIAPPONE) 16,96% -28,42% 15,12% * -8,64% -20,73% -14,35% -10,21% Hang Seng (HONG KONG) 9,30% -23,46% 5,45% -10,47% -15,92% -9,89% -18,22% Shanghai Comp (CINA) -100% 5,44% -14,94% 2,56% -8,51% -6,21% * -5,34% -7,35% BSE Sensex (INDIA) -20% 19,49% -40,95% 5,06% -20,71% -28,90% -24,12% -23,07% RTSI (RUSSIA) -26% 17,37% -52,09% * 3,46% -23,68% * -40,81% * -29,98% * -21,45% Ibovespa (BRASILE) 4,04% * 6,73% * 0,00% * 0,00% * -18,86% -9,54% 1,31% EUR/USD (CAMBIO) 55% 3,90% -7,72% * 2,98% -2,30% -0,59% 0,40% -1,49% Gold (ORO) 13% 70% 82% 8,55% -15,83% 10,57% * -1,91% * 3,61% * 6,90% * 24,64% * Crude Oil WTI (PETROLIO) -87% -30% -18,29% * -87,19% * -6,78% * -49,11% * -61,23% * -62,33% * -64,11% * Natural Gas 7,83% -25,18% 4,63% -3,40% -12,01% -31,67% -39,14% Agricoltura 9,05% * -26,24% 7,18% -12,57% -7,90% -6,12% -3,63% BGOV ITALIA BTP -36% 3,77% -11,94% 1,91% -1,70% -0,76% -3,70% 7,17% BGOV GERM BUND 45% 1,96% -7,07% 1,42% -2,48% 0,82% -1,64% 2,34% BGOV UK GILT 49% 2,79% 13,63% * 2,59% 0,07% 3,10% 1,60% 8,13% BGOV USA Treasury 2,19% 6,37% 2,53% 0,65% * 6,40% * 6,44% * 10,79% * BGOV Emerg Mrkt Loc -100% 5,86% -21,48% 1,74% -9,76% -15,77% -14,80% -10,75% BOND Corp Europa -51% 5,14% -15,33% 2,03% -6,75% -7,39% -7,59% -5,06% BOND Corp Usa 14,91% * -22,51% 12,67% * -7,42% -6,76% -5,39% 3,68% BOND Corp Emerg 9,88% -25,82% * 6,37% -12,69% * -23,00% * -22,73% * -18,01% * BOND High Yeld GL -4,35% * 9,80% -0,88% * 0,30% -7,95% -2,89% -5,08% © mAT Research (RIPRODUZIONE RISERVATA) MARKET ALLOCATION al 23/3/2020 Il presente Report è uno studio esemplificativo e non costituisce servizio di consulenza di investimento. MARKET ALLOCATION VOLATILITY MAX RANGE % PERFORMANCE% Trend Stability Risk Return Timing Power% W1 M1 W1 M1 M3 M6 Y1 FTSE MIB (ITALIA) -13% 13,46% * -50,96% 2,18% * -28,03% -34,96% -28,28% -26,56% CAC 40 (FRANCIA) -13% -12,23% -46,46% -1,75% -23,81% -34,32% -28,87% -25,51% DAX (GERMANIA) -14% -14% -11,03% -46,00% -2,50% -24,61% -34,52% -28,46% -22,93% FTSE 100 (INGHILTERRA) -10,06% -40,73% -1,64% -20,25% -32,30% -29,43% -29,34% * Dow Jones Ind Av (USA) -16% -16% -14,11% -39,21% -10,29% * -22,64% -34,81% -29,02% -25,58% Nasdaq 100 (USA) -10,05% -28,93% -4,55% -14,31% -23,57% -10,55% -5,26% * Nikkei 225 (GIAPPONE) -12% -8,42% -36,42% -1,87% -21,79% -31,88% -25,45% -23,91% Hang Seng (HONG KONG) -17% -10,98% -23,79% -1,65% -14,78% -23,13% -17,15% -23,77% Shanghai Comp (CINA) -20% -9,09% -14,63% -3,48% -6,12% -11,89% * -9,39% -12,45% BSE Sensex (INDIA) -16% -20% -21,23% * -40,04% -4,96% -26,92% -33,26% -23,40% -27,10% RTSI (RUSSIA) -17% -14% -20,66% -60,54% * -4,54% -28,60% * -43,42% * -33,56% * -25,96% Ibovespa (BRASILE) 4,04% 17,32% * 0,00% 2,88% * -17,25% -9,21% * -5,97% EUR/USD (CAMBIO) -21% -73% -5,04% * -7,72% * -3,77% -2,86% * -4,04% * -3,41% -4,45% Gold (ORO) -22% -45% -8,25% -15,78% -3,09% * -6,79% -5,91% -2,23% * 11,89% * Crude Oil WTI (PETROLIO) -76% -15% -44,80% * -83,14% * -26,14% * -48,91% * -61,54% * -61,09% * -62,44% * Natural Gas -17,44% -24,78% -12,31% -4,14% -21,13% -39,49% -43,67% Agricoltura -24% -42% -18,29% -25,74% -12,37% -11,17% -13,94% -12,38% -9,21% BGOV ITALIA BTP -6% 7,90% -11,85% 1,17% -3,32% -1,94% -4,91% 5,05% BGOV GERM BUND -57% -73% -5,40% -7,05% -2,98% -2,96% -0,03% -2,16% 1,83% BGOV UK GILT 36% -8,76% -13,69% -1,66% -1,25% 1,49% 0,42% 6,02% BGOV USA Treasury 4,42% 6,43% * 0,18% 0,44% * 4,69% * 4,45% * 9,04% * BGOV Emerg Mrkt Loc -7% -10,69% -22,22% -2,64% -12,77% -16,49% -16,09% -13,84% BOND Corp Europa -11% -10,52% -15,42% -4,58% -8,46% -8,92% -9,20% -6,56% BOND Corp Usa -43% -10% -12,52% * -22,35% -6,97% * -18,23% -15,89% -14,45% -5,67% BOND Corp Emerg -57% -8% -8,57% -36,09% * -6,34% -27,13% * -27,00% * -26,57% * -22,05% * BOND High Yeld GL 8,26% * -13,28% 3,67% * -1,17% -6,61% -0,59% -3,97% © mAT Research (RIPRODUZIONE RISERVATA) MarkeTiming Selection  16/3/2020 Il presente Report è uno studio esemplificativo e non costituisce servizio di consulenza di investimento. MARKET SELECTION VOLATILITY MAX RANGE % PERFORMANCE% Trend Stability Risk Return Timing Power% W1 M1 W1 M1 M3 M6 Y1 FTSE MIB (ITALIA) -17% -7% -33,08% * -48,19% * -25,89% * -38,05% * -36,23% -30,00% * -26,39% CAC 40 (FRANCIA) -14% -6% -19,88% -38,68% -20,76% -32,36% -32,73% -27,54% -23,61% DAX (GERMANIA) -14% -6% -19,33% -39,06% -20,81% -32,86% -32,77% -26,37% -21,46% FTSE 100 (INGHILTERRA) -13% -6% -17,57% -33,73% -18,56% -28,94% -30,95% -28,28% -26,73% * Dow Jones Ind Av (USA) -8% -16,49% -31,41% -15,62% -26,33% -26,06% -21,47% -16,92% Nasdaq 100 (USA) -11% -14,19% -28,37% -12,24% -22,37% -18,43% -7,66% 0,84% * Nikkei 225 (GIAPPONE) -13% -7% -17,41% -33,23% -19,13% -28,69% -29,84% -23,34% -21,69% Hang Seng (HONG KONG) -9% -12,40% -21,04% -13,67% -17,41% -21,00% -16,49% -21,53% Shanghai Comp (CINA) -20% -55% -7,15% -9,21% * -7,57% -7,29% * -9,13% * -6,83% * -5,69% BSE Sensex (INDIA) -13% -11% -21,75% -31,22% -20,59% -28,55% -29,09% -20,67% -22,03% RTSI (RUSSIA) -16% -6% -31,62% -44,39% -22,72% -36,84% -39,95% * -29,08% -18,86% Ibovespa (BRASILE) -3% 4,04% * -20,05% 0,00% * -11,95% -18,45% -9,81% -7,81% EUR/USD (CAMBIO) -3,88% 6,47% * -1,41% 2,51% * -0,28% * 1,17% * -0,66% Gold (ORO) -45% -12,24% -12,25% -8,46% -7,23% -2,74% 0,50% 16,38% * Crude Oil WTI (PETROLIO) -100% -32% -27,65% * -60,43% * -26,09% * -42,28% * -48,45% * -43,84% * -47,70% * Natural Gas 21,02% * -22,46% 5,28% * -6,31% -16,00% -28,56% -36,42% Agricoltura -68% -73% -10,61% -14,18% -6,92% -3,59% -1,77% 0,24% 3,44% BGOV ITALIA BTP -17% -64% -5,66% -7,67% -4,65% -6,27% -3,41% -5,50% 4,19% BGOV GERM BUND -2,74% * 4,51% -0,89% 1,34% 3,19% 0,48% 5,25% BGOV UK GILT -6,61% 9,76% * -0,82% * 1,90% 4,77% * 2,33% 9,93% * BGOV USA Treasury -4,82% 7,76% -2,02% 2,18% * 4,49% 4,29% * 9,46% BGOV Emerg Mrkt Loc -14% -8,64% -17,73% -8,90% -14,68% -16,79% -14,02% -10,68% BOND Corp Europa -17% -3,74% -5,67% -4,22% -5,45% -4,79% -3,96% -1,79% BOND Corp Usa -24% -64% -13,32% * -15,50% -11,68% -14,20% -9,63% -7,73% 1,74% BOND Corp Emerg -15% -12,43% -28,19% * -12,37% * -24,98% * -21,84% * -21,74% * -16,66% * BOND High Yeld GL -12% -3,03% -14,63% -2,39% -10,41% -10,90% -3,25% -7,63% © mAT Research (RIPRODUZIONE RISERVATA) MarkeTiming Selection  9/3/2020 Il presente Report è uno studio esemplificativo e non costituisce servizio di consulenza di investimento. MARKET SELECTION PERFORMANCE% VOLATILITY % Trend Stability Risk Return Timing Power% W1 M1 M3 M6 Y1 W1 M1 FTSE MIB (ITALIA) -18% -11% -4,95% * -16,94% -12,30% -5,37% 0,13% -8,42% -23,56% CAC 40 (FRANCIA) -15% -8% -2,14% -15,65% -14,63% -7,95% -2,51% -7,65% -19,42% DAX (GERMANIA) -16% -9% -2,36% -16,61% -12,75% -5,27% -0,05% -7,21% -20,51% FTSE 100 (INGHILTERRA) -11% -7% -0,44% -13,13% -14,83% -11,30% * -9,75% * -6,61% -17,36% Dow Jones Ind Av (USA) -8% 2,21% -13,85% -11,49% -5,17% -0,50% 7,37% -19,67% Nasdaq 100 (USA) -45% 2,29% -13,18% -4,97% 6,62% * 18,82% * 8,18% * -19,70% Nikkei 225 (GIAPPONE) -12% -8% -45% -1,45% -12,67% -12,86% -0,84% -3,68% -5,36% -15,98% Hang Seng (HONG KONG) -8% 0,36% -5,82% -8,25% -0,76% -9,34% 2,95% -7,95% Shanghai Comp (CINA) 22% 55% 5,24% * 4,48% * -1,47% * 1,91% -1,48% 6,03% 7,83% * BSE Sensex (INDIA) -11% -10% -3,16% -10,13% -10,49% 1,28% 1,15% -5,60% -12,69% RTSI (RUSSIA) -18% -8% -3,22% -18,96% * -20,29% * -7,04% 5,18% -10,50% * -25,79% * Ibovespa (BRASILE) 2,88% -14,64% -18,45% -7,27% -4,03% 7,22% -23,04% EUR/USD (CAMBIO) 33% 64% 2,39% 3,56% 0,79% 1,78% 0,86% 2,34% 5,36% Gold (ORO) 19% 5,08% 4,28% * 7,38% * 8,50% * 28,26% * 7,36% 8,22% Crude Oil WTI (PETROLIO) -100% -17% -45% -6,41% * -20,03% * -32,84% * -26,38% -26,81% -18,54% * -33,08% * Natural Gas 3,83% -5,01% -18,14% -28,59% * -39,35% * 10,01% * -23,19% Agricoltura 32% 73% 8,90% * 3,28% 5,95% 5,51% 8,92% 2,72% 11,86% * BGOV ITALIA BTP 0,22% -1,54% 1,44% -1,25% 9,89% 1,95% -2,44% BGOV GERM BUND 16% 0,93% 2,69% 3,95% 0,92% 6,49% 1,55% 3,48% BGOV UK GILT 1,25% 3,47% 4,80% 3,61% 10,67% 3,81% * 6,54% * BGOV USA Treasury 16% 2,32% * 5,03% * 6,56% * 5,11% * 11,89% 3,32% 6,26% BGOV Emerg Mrkt Loc -20% -1,65% -7,27% -7,84% -5,01% -1,82% -5,14% * -8,68% BOND Corp Europa -45% 0,16% -1,11% -0,91% -1,14% 2,96% 1,03% -1,61% BOND Corp Usa -0,47% -2,22% 2,76% 1,87% 14,59% * -2,54% -3,72% BOND Corp Emerg -100% -28% -64% -11,23% * -14,03% * -9,93% * -10,60% * -4,93% -4,43% -17,61% * BOND High Yeld GL -20% -2,33% -7,71% -8,47% 0,90% -5,37% * -4,78% -11,94% © mAT Research (RIPRODUZIONE RISERVATA) MarkeTiming Selection  2/3/2020 Il presente Report è uno studio esemplificativo e non costituisce servizio di consulenza di investimento. MARKET SELECTION PERFORMANCE% Trend Stability Risk Return Timing Power% W1 M1 M3 M6 Y1 FTSE MIB (ITALIA) -11% -11% -73% -12,05% -10,97% -8,57% 2,09% 6,24% CAC 40 (FRANCIA) -12% -9% -73% -12,77% -12,84% -13,24% -3,98% 0,48% DAX (GERMANIA) -12% -9% -73% -13,16% -12,92% -11,93% -1,02% 2,70% FTSE 100 (INGHILTERRA) -12% -9% -45% -12,35% -13,18% -15,25% -10,02% * -8,25% Dow Jones Ind Av (USA) -14% -10% -64% -14,58% -15,06% -13,73% -6,14% -4,77% Nasdaq 100 (USA) -73% -13,53% -13,26% -7,04% 6,42% * 14,85% * Nikkei 225 (GIAPPONE) -11% -9% -45% -10,53% -11,97% -12,26% 1,37% -2,10% Hang Seng (HONG KONG) -7% -45% -4,68% * -4,54% -7,18% 1,77% -9,04% Shanghai Comp (CINA) -5% -55% -4,69% 1,40% * -4,16% * 0,15% -1,76% BSE Sensex (INDIA) -8% -64% -7,08% -6,95% -7,38% 3,77% 6,67% RTSI (RUSSIA) -14% -8% -64% -15,55% * -15,04% -16,56% -0,40% 8,35% Ibovespa (BRASILE) -14% -16% -14,41% -16,05% * -21,08% * -8,50% -9,72% * EUR/USD (CAMBIO) 1,55% * 0,08% * -1,31% -0,11% -1,65% Gold (ORO) -3,55% 0,00% 3,43% * 2,49% * 19,01% * Crude Oil WTI (PETROLIO) -54% -31% -16,55% * -12,44% * -28,38% * -19,64% -22,29% Natural Gas -46% -27% -14,29% -10,85% -24,18% -27,20% * -41,07% * Agricoltura -41% -73% -6,03% -3,65% -6,79% 2,08% -3,65% BGOV ITALIA BTP -1,92% -1,43% 2,59% -1,06% 10,52% BGOV GERM BUND 8% 1,32% 1,83% 2,86% -0,97% 5,78% BGOV UK GILT 10% 1,48% 1,76% 4,41% 0,49% 10,23% BGOV USA Treasury 9% 1,92% * 2,73% * 4,47% * 2,18% * 9,57% BGOV Emerg Mrkt Loc -14% -73% -4,78% -4,36% * -5,73% * -1,83% -0,52% * BOND Corp Europa -37% -100% -1,44% -1,14% -0,83% -1,76% 2,87% BOND Corp Usa -2,40% -0,37% 3,45% 1,73% 16,03% * BOND Corp Emerg -3,57% -1,76% 1,62% 0,91% 8,01% BOND High Yeld GL -22% -73% -4,89% * -3,97% -2,24% -3,21% * 0,43% © mAT Research (RIPRODUZIONE RISERVATA) MarkeTiming Selection  24/2/2020 Il presente Report è uno studio esemplificativo e non costituisce servizio di consulenza di investimento. MARKET SELECTION PERFORMANCE% Trend Stability Risk Return Timing Power% W1 M1 M3 M6 Y1 FTSE MIB (ITALIA) 29% 20% -0,65% 6,30% * 3,50% 18,79% 22,39% CAC 40 (FRANCIA) 11% 26% -1,19% 3,38% 0,47% 11,47% 15,72% DAX (GERMANIA) 12% 20% -1,66% 4,06% 2,26% 15,24% 18,51% FTSE 100 (INGHILTERRA) -0,45% 1,31% -2,56% 3,76% * 3,20% Dow Jones Ind Av (USA) -1,33% 2,57% 1,57% 10,70% 11,88% Nasdaq 100 (USA) 16% -1,84% 4,96% 8,66% * 22,97% * 34,34% * Nikkei 225 (GIAPPONE) -0,95% 1,03% -1,55% 13,57% 9,66% Hang Seng (HONG KONG) -1,56% 3,69% -1,72% 4,95% -3,88% * Shanghai Comp (CINA) 32% 34% 55% 4,16% * 2,19% 0,60% 5,32% 10,02% BSE Sensex (INDIA) -0,12% 1,14% -1,21% 13,03% 15,20% RTSI (RUSSIA) -0,84% -0,11% -0,24% 18,75% 27,94% Ibovespa (BRASILE) -45% -3,06% * -1,71% * -6,72% * 5,97% 5,25% EUR/USD (CAMBIO) -10% -30% -0,41% * -2,11% * -2,55% -2,66% -3,13% Gold (ORO) 24% 2,89% 3,29% 9,60% * 7,57% 22,25% * Crude Oil WTI (PETROLIO) 21% 2,40% 3,10% -12,44% -5,02% -7,24% Natural Gas 26% -36% 3,79% * 2,87% -18,25% * -13,34% * -29,39% * Agricoltura 19% 70% 0,55% 4,29% * 0,00% 8,31% * 0,27% BGOV ITALIA BTP 0,17% 0,39% 3,65% 3,25% 13,06% BGOV GERM BUND 0,43% 0,20% 1,59% -1,71% * 4,03% * BGOV UK GILT 0,71% 0,00% * 2,97% 0,00% 7,72% BGOV USA Treasury 0,72% * 0,38% 2,90% 0,91% 7,34% BGOV Emerg Mrkt Loc -0,98% * 1,64% -0,93% * 2,34% 4,46% BOND Corp Europa 0,17% 0,32% 0,57% -0,27% 4,54% BOND Corp Usa 40% 44% 0,66% 3,11% 6,21% * 4,98% 18,73% * BOND Corp Emerg 40% 56% 0,42% 3,32% * 5,31% 5,40% * 11,93% BOND High Yeld GL 20% -0,29% 2,19% 2,49% 2,46% 5,77% © mAT Research (RIPRODUZIONE RISERVATA) MarkeTiming Selection  17/2/2020 Il presente Report è uno studio esemplificativo e non costituisce servizio di consulenza di investimento. MARKET SELECTION PERFORMANCE% Trend Stability Risk Return Timing Power% W1 M1 M3 M6 Y1 FTSE MIB (ITALIA) 27% 54% 1,89% 4,12% 6,70% 24,56% 25,33% CAC 40 (FRANCIA) 9% 1,12% 0,84% 2,71% 15,92% 19,84% DAX (GERMANIA) 16% 46% 1,96% 1,61% 3,57% 19,80% 23,92% FTSE 100 (INGHILTERRA) -36% -0,50% -1,38% 2,50% 4,10% 3,07% Dow Jones Ind Av (USA) 10% 0,78% 1,53% 4,48% 14,74% 15,71% Nasdaq 100 (USA) 33% 2,20% * 5,29% * 13,52% * 28,11% * 37,50% * Nikkei 225 (GIAPPONE) -6% -0,66% * -0,65% -0,72% 14,68% 11,85% Hang Seng (HONG KONG) 1,73% -0,28% 1,06% 9,91% -2,05% * Shanghai Comp (CINA) 2,14% -1,89% -1,24% * 3,27% * 7,09% BSE Sensex (INDIA) 0,27% -0,22% 1,10% 11,30% 15,04% RTSI (RUSSIA) 1,46% -4,32% 2,09% 21,69% 32,66% Ibovespa (BRASILE) 1,18% -4,94% * -0,56% 8,40% 9,55% EUR/USD (CAMBIO) -18% -52% -1,04% -1,74% -2,56% -2,77% -2,66% Gold (ORO) 14% 0,77% 1,30% * 7,49% * 4,72% 20,75% * Crude Oil WTI (PETROLIO) -15% 2,48% * -4,73% * -13,41% -4,91% -3,37% Natural Gas -44% -2,55% * -4,11% -20,28% * -15,40% * -30,04% * Agricoltura 9% 48% 1,97% -0,55% 1,40% 6,45% * -1,09% BGOV ITALIA BTP 17% 22% 0,33% 2,53% 2,80% 4,69% 12,60% BGOV GERM BUND 55% 0,08% 0,67% 1,09% -2,28% * 3,46% * BGOV UK GILT -0,42% * -0,42% * 3,29% -0,35% 6,24% BGOV USA Treasury 0,08% 0,65% 1,77% 0,04% 6,40% BGOV Emerg Mrkt Loc 13% 27% 1,43% 0,66% 0,97% 3,84% 6,30% BOND Corp Europa 0,13% 0,43% 0,43% * -0,38% 4,46% BOND Corp Usa 27% 16% 1,41% 3,00% * 6,40% * 6,07% * 17,15% * BOND Corp Emerg 24% 18% 1,44% * 2,58% 6,05% 5,94% 11,34% BOND High Yeld GL 20% 17% 1,26% 2,00% 3,51% 4,22% 6,31% © mAT Research (RIPRODUZIONE RISERVATA) MarkeTiming Selection  10/2/2020 Il presente Report è uno studio esemplificativo e non costituisce servizio di consulenza di investimento. MARKET SELECTION PERFORMANCE% Trend Stability Risk Return Timing Power% W1 M1 M3 M6 Y1 FTSE MIB (ITALIA) 18% 19% 5,02% * 1,50% 6,24% 18,32% 25,12% CAC 40 (FRANCIA) 7% 16% 3,46% -1,09% 3,25% 13,08% 20,35% DAX (GERMANIA) 10% 18% 3,78% -0,25% 3,13% 15,23% 22,16% FTSE 100 (INGHILTERRA) 45% 2,28% -2,22% 4,25% 3,47% 4,90% Dow Jones Ind Av (USA) 7% 3,15% -0,80% 4,37% 11,59% 16,23% Nasdaq 100 (USA) 21% 12% 4,63% 2,83% * 12,09% * 23,76% * 36,80% * Nikkei 225 (GIAPPONE) 5% 2,68% -1,06% 1,80% 16,11% 14,97% Hang Seng (HONG KONG) 45% 3,53% -5,51% 3,48% 4,71% -2,24% * Shanghai Comp (CINA) -32% -35% -64% -3,94% * -7,45% * -1,93% * 2,03% * 9,58% BSE Sensex (INDIA) 0,99% -1,86% 1,82% 12,05% 11,31% RTSI (RUSSIA) -0,71% -6,73% 5,22% 15,98% 25,83% Ibovespa (BRASILE) -45% 0,21% -4,19% 0,55% 3,53% 8,74% EUR/USD (CAMBIO) -8% -53% -0,68% -1,30% -0,89% -2,14% -1,71% Gold (ORO) 2% -0,38% 0,94% * 6,88% * 4,15% * 19,71% * Crude Oil WTI (PETROLIO) -65% -47% -1,75% * -14,04% * -13,19% -3,58% -3,30% Natural Gas -25% 1,71% -7,71% -20,87% * -11,73% * -27,70% * Agricoltura 45% 1,71% * -1,93% 0,85% 3,49% -4,30% BGOV ITALIA BTP 18% 27% -0,11% 2,91% 2,77% 3,64% 13,30% BGOV GERM BUND 5% -0,31% 1,16% 0,53% -1,67% * 3,53% BGOV UK GILT 5% -0,28% 1,00% 2,83% 0,71% 7,34% BGOV USA Treasury 7% -0,41% * 1,46% 1,58% 1,15% 6,41% BGOV Emerg Mrkt Loc 1,19% 0,09% * 0,28% * 2,24% 3,15% * BOND Corp Europa 4% 0,02% 0,66% 0,54% -0,15% 4,45% BOND Corp Usa 27% 24% 1,01% 3,23% * 3,21% * 6,14% * 16,20% * BOND Corp Emerg 22% 27% 1,43% * 1,98% 1,75% 4,68% 10,37% BOND High Yeld GL 13% 21% 1,21% 0,89% 2,39% 3,11% 5,51% MarkeTiming Selection  3/2/2020 Il presente Report è uno studio esemplificativo e non costituisce servizio di consulenza di investimento. MARKET SELECTION PERFORMANCE% Trend Stability Risk Return Timing Power% W1 M1 M3 M6 Y1 FTSE MIB (ITALIA) -2,69% -3,16% 0,00% 9,14% 18,76% CAC 40 (FRANCIA) -3,62% -3,80% -1,47% * 5,38% 17,02% DAX (GERMANIA) -3,98% -3,78% -1,45% 6,88% 17,40% FTSE 100 (INGHILTERRA) -35% -51% -55% -3,10% -4,09% -0,97% -3,97% 4,81% Dow Jones Ind Av (USA) -36% -2,34% -2,15% 0,45% 5,43% 13,39% Nasdaq 100 (USA) -1,54% 0,11% * 6,66% * 15,26% * 31,06% * Nikkei 225 (GIAPPONE) 36% -2,60% -2,61% -0,57% 7,75% 11,88% Hang Seng (HONG KONG) -65% -49% -45% -5,33% -7,75% * -0,05% -5,08% * -5,32% * Shanghai Comp (CINA) 0,00% * -4,09% 3,39% 0,99% 14,92% BSE Sensex (INDIA) -1,46% -1,87% 0,02% 9,54% 13,80% RTSI (RUSSIA) -5,01% -4,83% 6,24% 12,15% 25,29% Ibovespa (BRASILE) -6,25% * -5,77% 3,93% -0,20% 3,89% EUR/USD (CAMBIO) -0,03% -0,62% 0,32% -0,50% -1,13% Gold (ORO) 0,91% * 1,50% * 7,60% * 11,25% * 19,35% * Crude Oil WTI (PETROLIO) -41% -26% -5,38% * -13,39% -7,34% -11,81% -4,92% Natural Gas -40% -17% -3,26% -15,25% * -20,28% * -14,81% * -35,33% * Agricoltura -19% -58% -45% -4,11% -4,63% 0,29% -1,13% -4,63% BGOV ITALIA BTP 20% 36% 2,31% * 2,66% 2,10% * 4,20% 10,87% BGOV GERM BUND 19% 64% 0,90% 1,62% 0,40% -0,16% 3,96% BGOV UK GILT 13% 0,28% 2,82% * 1,93% 2,97% 7,72% BGOV USA Treasury 13% 0,99% 1,88% 1,53% 3,23% 6,63% BGOV Emerg Mrkt Loc -23% -45% -1,93% * -4,04% * -0,76% * -1,10% * 3,13% * BOND Corp Europa 0,28% 0,37% 0,41% -0,09% 4,97% BOND Corp Usa 11% 45% 0,56% 2,15% 1,38% 5,89% * 16,85% * BOND Corp Emerg -0,30% 0,84% -0,47% 2,84% 10,32% BOND High Yeld GL -0,48% -0,30% 0,87% 0,90% 5,46% © mAT Research (RIPRODUZIONE RISERVATA) MarkeTiming Selection  27/1/2020 Il presente Report è uno studio esemplificativo e non costituisce servizio di consulenza di investimento. MARKET SELECTION PERFORMANCE% Trend Stability Risk Return Timing Power% W1 M1 M3 M6 Y1 FTSE MIB (ITALIA) 5% 36% -0,68% 1,41% 2,55% 9,58% 23,08% CAC 40 (FRANCIA) -0,82% 0,37% 2,23% * 8,04% 24,51% DAX (GERMANIA) 19% 0,10% 2,97% 2,97% 9,34% 22,46% FTSE 100 (INGHILTERRA) -12% -1,34% -0,57% 3,72% 0,28% 10,37% Dow Jones Ind Av (USA) -1,52% 1,20% 3,85% 6,34% 18,10% Nasdaq 100 (USA) 24% -0,19% 3,96% * 10,60% * 13,96% 36,73% * Nikkei 225 (GIAPPONE) -4% -1,07% 0,43% 3,16% 10,04% 16,07% Hang Seng (HONG KONG) -3,60% -2,30% 4,86% -1,99% * 3,29% * Shanghai Comp (CINA) -3,65% * -3,88% * 2,83% 1,06% 15,01% BSE Sensex (INDIA) -10% -1,37% -0,18% 2,48% 9,51% 14,67% RTSI (RUSSIA) 11% -1,10% 2,79% 10,04% 18,97% * 35,38% Ibovespa (BRASILE) 16% 1,99% * 0,51% 10,46% 5,32% 14,27% EUR/USD (CAMBIO) -4% -47% -0,60% -0,94% 0,05% -0,83% -0,97% Gold (ORO) 5% 0,41% 1,66% * 5,80% * 10,06% * 21,97% * Crude Oil WTI (PETROLIO) -49% -53% -45% -7,53% * -11,85% * -6,31% -3,27% 3,40% Natural Gas -42% -6,21% -10,12% -30,89% * -13,53% * -37,32% * Agricoltura -36% 0,55% * -0,27% 3,99% 2,24% -1,62% BGOV ITALIA BTP 0,70% 0,48% -0,66% * 1,92% 9,73% BGOV GERM BUND 0,57% 0,55% -0,27% -0,78% * 3,29% * BGOV UK GILT 23% 22% 36% 1,00% 1,72% 3,05% * 2,60% 8,24% BGOV USA Treasury 14% 28% 0,88% 0,81% 0,50% 2,30% 6,06% BGOV Emerg Mrkt Loc 0,87% -1,26% * 0,75% 0,38% 5,93% BOND Corp Europa 0,35% -0,23% 0,50% -0,46% 5,24% BOND Corp Usa 31% 23% 45% 1,64% * 2,02% 2,01% 5,18% * 16,02% * BOND Corp Emerg 25% 27% 0,85% 2,13% * 0,47% 3,02% 10,39% BOND High Yeld GL 6% 0,16% * 0,59% 2,47% 1,07% 6,25% © mAT Research (RIPRODUZIONE RISERVATA) MarkeTiming Selection 20/1/2020 Il presente Report è uno studio esemplificativo e non costituisce servizio di consulenza di investimento. MARKET SELECTION PERFORMANCE% Trend Stability Risk Return Timing Power% W1 M1 M3 M6 Y1 FTSE MIB (ITALIA) 45% 0,19% 1,17% 2,34% * 9,51% 24,32% CAC 40 (FRANCIA) 0,63% 0,64% 2,68% 9,63% 27,11% DAX (GERMANIA) 45% 0,10% 1,40% 2,46% 10,88% 24,72% FTSE 100 (INGHILTERRA) 0,33% -0,17% 5,06% 1,70% 11,92% Dow Jones Ind Av (USA) 16% 1,74% 2,38% 5,19% 8,21% 21,59% Nasdaq 100 (USA) 23% 1,87% * 4,22% 10,08% 16,50% 37,39% Nikkei 225 (GIAPPONE) 1,06% 0,74% 3,86% 14,39% 18,05% Hang Seng (HONG KONG) 15% 1,08% 2,90% 9,56% 1,54% * 7,90% * Shanghai Comp (CINA) -0,46% 2,12% 6,09% 5,72% 19,92% BSE Sensex (INDIA) 9% 0,97% 1,42% 3,83% 7,69% 15,70% RTSI (RUSSIA) 25% 1,31% 5,29% * 12,49% * 19,72% * 40,64% * Ibovespa (BRASILE) -13% -1,45% * -1,88% * 9,36% 1,90% 14,57% EUR/USD (CAMBIO) -36% 0,00% -0,09% 0,64% -1,07% -0,46% Gold (ORO) 14% 0,17% * 2,47% * 5,91% * 9,43% * 20,27% * Crude Oil WTI (PETROLIO) -1,00% -4,85% 3,24% 6,43% 14,30% Natural Gas -74% -100% -6,59% * -7,84% * -23,40% * -11,87% * -37,61% * Agricoltura -13% -1,09% -1,36% 2,83% 2,54% -0,55% BGOV ITALIA BTP -0,35% 1,14% -0,70% 0,99% 8,80% BGOV GERM BUND 0,14% -0,15% -0,99% * -0,97% * 2,87% * BGOV UK GILT 100% 57% 36% 1,52% * 1,59% * 1,15% 2,03% 7,58% BGOV USA Treasury 0,00% 0,23% 0,00% 1,32% 5,30% BGOV Emerg Mrkt Loc -2,98% * -1,52% * -0,39% 0,43% 5,50% BOND Corp Europa -0,26% -0,34% -0,11% -0,04% 5,21% BOND Corp Usa -0,05% 0,58% 0,37% 4,91% * 15,47% * BOND Corp Emerg 43% 0,29% 1,43% -0,47% 3,33% 10,47% BOND High Yeld GL 0,02% 0,91% 1,99% * 2,10% 6,35% © mAT Research (RIPRODUZIONE RISERVATA) MarkeTiming Selection 13/1/2020 Il presente Report è uno studio esemplificativo e non costituisce servizio di consulenza di investimento. MARKET SELECTION PERFORMANCE% Trend Stability Risk Return Timing Power% W1 M1 M3 M6 Y1 FTSE MIB (ITALIA) 1,91% 0,54% 2,62% 8,32% 32,03% CAC 40 (FRANCIA) 0,56% 1,03% 2,84% 8,64% 30,83% DAX (GERMANIA) 20% 100% 2,76% * 2,13% 2,18% 9,56% 29,65% FTSE 100 (INGHILTERRA) 0,45% 0,27% 3,21% 1,11% 13,46% * Dow Jones Ind Av (USA) 1,01% 1,21% 4,39% 6,96% 27,17% Nasdaq 100 (USA) 24% 2,25% 3,41% 9,35% 13,70% 45,81% Nikkei 225 (GIAPPONE) 0,44% 0,06% 1,92% * 10,35% 19,40% Hang Seng (HONG KONG) 13% 0,27% 2,75% 3,34% 0,55% * 14,49% Shanghai Comp (CINA) 12% 0,22% 2,64% 4,00% 5,97% 25,47% BSE Sensex (INDIA) 36% 0,24% -0,45% * 2,94% 7,29% 16,83% RTSI (RUSSIA) 31% 2,59% 4,94% * 9,37% * 14,55% * 49,87% * Ibovespa (BRASILE) -0,01% * 0,71% 7,65% 2,89% 21,62% EUR/USD (CAMBIO) 36% -0,35% 0,18% 0,63% -1,41% -0,48% Gold (ORO) 61% 100% 1,07% 4,54% * 6,15% * 10,05% * 20,25% Crude Oil WTI (PETROLIO) -3,70% * -1,95% 5,54% -2,13% 29,70% * Natural Gas -39% 2,59% * -6,23% * -22,40% * -10,66% * -28,52% * Agricoltura 0,27% 0,55% 3,38% 1,94% 1,94% BGOV ITALIA BTP 0,13% 0,57% -0,58% * 2,26% 10,04% BGOV GERM BUND -0,16% -0,23% * -0,42% -0,45% * 2,55% * BGOV UK GILT 36% -0,79% * 0,14% -0,14% 1,39% 5,41% BGOV USA Treasury 36% -0,08% 0,62% 0,62% 1,72% 4,75% BGOV Emerg Mrkt Loc 33% 0,90% 1,58% * 1,82% 4,36% 8,32% BOND Corp Europa -0,32% -0,13% 0,19% 0,57% 5,07% BOND Corp Usa 67% 55% 0,44% 0,84% 1,14% 5,36% * 16,26% * BOND Corp Emerg 0,98% * 1,07% -0,45% 3,30% 11,87% BOND High Yeld GL 0,40% 0,60% 1,84% * 1,92% 9,85% © mAT Research (RIPRODUZIONE RISERVATA) MarkeTiming Selection 6/1/2020 Il presente Report è uno studio esemplificativo e non costituisce servizio di consulenza di investimento. MARKET SELECTION PERFORMANCE% Trend Stability Risk Return Timing Power% W1 M1 M3 M6 Y1 FTSE MIB (ITALIA) -0,91% 1,05% 3,50% 7,23% 29,55% CAC 40 (FRANCIA) 45% -0,55% 1,48% 4,44% 6,80% 30,10% DAX (GERMANIA) -8% -1,43% * -1,02% * 1,74% * 4,00% 26,16% FTSE 100 (INGHILTERRA) 12% 39% 45% -0,94% 4,53% 4,18% -0,66% 12,95% * Dow Jones Ind Av (USA) -0,38% 1,68% 5,00% 6,22% 25,89% Nasdaq 100 (USA) 12% 45% 0,06% 3,71% 7,93% 12,08% * 42,61% Nikkei 225 (GIAPPONE) -0,76% -0,50% 4,19% 9,16% 18,88% Hang Seng (HONG KONG) 17% 1,53% 3,73% 6,07% -1,21% * 14,18% Shanghai Comp (CINA) 23% 61% 2,36% * 4,72% * 5,39% 2,76% 25,19% BSE Sensex (INDIA) 0,20% 1,50% 3,33% 3,74% 16,56% RTSI (RUSSIA) 17% 1,30% 3,80% 9,43% * 11,05% 46,08% * Ibovespa (BRASILE) 12% -0,44% 4,08% 5,75% 7,05% 21,63% EUR/USD (CAMBIO) 45% 0,26% 0,11% -0,04% -1,41% -0,13% Gold (ORO) 28% 58% 1,21% * 4,38% * 1,65% 7,93% * 18,98% Crude Oil WTI (PETROLIO) 15% -0,20% 3,10% 13,02% * 7,74% 34,68% * Natural Gas -57% -42% -3,83% * -7,50% * -19,10% * -8,23% * -27,99% * Agricoltura -0,54% 2,23% 4,27% 1,10% 1,67% BGOV ITALIA BTP 1,36% * -0,22% * -2,56% * 1,92% 9,89% BGOV GERM BUND -0,13% * -0,13% -1,26% -1,29% * 2,72% * BGOV UK GILT 36% 0,87% 1,97% * -1,20% 0,65% 6,25% BGOV USA Treasury 0,31% 0,31% -0,42% 0,89% 4,83% BGOV Emerg Mrkt Loc 45% 0,60% 1,59% 1,41% 0,42% 7,35% BOND Corp Europa 73% 0,24% 0,23% 0,10% -0,05% 5,40% BOND Corp Usa 0,20% 1,25% 0,64% 3,85% * 15,76% * BOND Corp Emerg 0,16% 1,23% -0,75% 2,33% 10,79% BOND High Yeld GL 55% 0,48% 0,89% 2,32% * 1,35% 9,42% © mAT Research (RIPRODUZIONE RISERVATA) DISCLAIMER & ALL RIGHTS RESERVED  - Tutte le informazioni pubblicate sul sito MarkeTiming e nelle relazioni settimanali rappresentano uno studio analitico ed esemplare dei mercati e degli strumenti finanziari. 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