March 12th, 2011
Econintersect: Analyst Erik McCurdy says that global stock markets could be "aligned for a synchronized decline." Both the S&P 500 index in the U.S. and the European Top 100 index have broken below long-term uptrend support levels. He says that China is already in a long-term market decline, now approaching two years in duration. Follow up:
Follow up:McCurdy says that technical indicators for the S&P 500 are now neutral to slightly bullish overall on the weekly chart, idicating the near-term direction is in question. However he points out that he sees a cautionary warning with the development in the last week of a "bearish engulfing" pattern.
Source: GEI Investing Blog