Sunday, March 4, 2012

Does this look bullish?

Maybe it is because I am under the weather and feeling very grumpy, but I can not pick up major bullishness from the picture below.

Look at the stock market charts of four largest economies in the world.
Dow Jones Industrial Avg is trying to get back to its all-time high. But the other three are so far below their "bubble" highs, that in order to return to them, Shanghai Comp and Euro Stoxx 50 have to more than double, and Nikkei 225 has to almost quadruple. Their long-term downtrends are still intact, and they will continue to be in a secular bear market.

I know, "this time is different", "U.S. will decouple"...

click on charts to enlarge

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