Longer-term charts of key equity markets continue to point to strengthening uptrends. These markets will continue to be fuelled by abundant liquidity and a strengthening global economic recovery. In this respect, my colleagues and I continue to promote the view that developed equity markets are a great way to play the macroeconomic environment. Given often… [Read more]
Until the surge in equities this week, the lack of a bear market rally thus far in 2009 had been disquieting – markets do not go down in a straight line forever. Indeed, the Dow is at its most oversold levels on the monthly Relative Strength Index (RSI) ever (at least, going back to 1920),… [Read more]
This week’s market action should eliminate any remaining doubt that we are in a bear market of historic proportions. How historic? There have been some pretty famous bear markets over the last century, and I’ve plotted a few of them on the chart below. Using the peak of the market as the base (at a… [Read more]