Analyst Sees Gut Check Time for Global Stocks

March 12th, 2011
in econ_news

bear_market 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:

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


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