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Is Europe The Next Asia?

  • Written by Syndicated Publisher No Comments Comments
    March 12, 2014

    They are only short-term charts, but some of Europe’s major markets are looking short-term toppy. 

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    Could it be more than short-term?

    James Dondero of Highland Global Allocation Fund, which seems to know what it’s doing in global markets, with a 30% return last year, said this about Europe, “We think Europe continues to slow down. I think European equities have played out over the last six months and have a few more months to run, at most”. 

    Meanwhile, Asian markets have become mixed.

    After being stuck in a sideways trading band since last October, India, about which little has been said of a positive nature on Wall Street, broke out in a huge spike up last week.

    It was one of the more volatile markets last year, and looks like it might be again this year. Last week it was encouraging inflation forecasts leading to hope that India’s inflation level will ease to within the comfort zone of its central bank.

    But last night, the Sensex fell 0.5% on the report that exports fell in February for the first time in eight months, raining on the hopes that exports would rescue the country’s economy this year.

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    In the other direction, China’s market continues to be a basket case. It cannot get any good news on its economy, the latest being a surprise drop in its exports.

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    These disappointments in exports are continuing signs of a potential global economic slowdown.

    To read my weekend newspaper column click here: Safe Havens Are Trouncing Stocks So Far This Year

    Subscribers to Street Smart Report:

    In addition to the charts and signals in the ‘premium content’ area of this blog, the new issue of the newsletter will be in your secure area of the Street Smart Report website tomorrow.

    Images: Flickr (licence attribution)

    About The Author – Sy Harding, Street Smart Report

    Sy Harding publishes the financial website Street Smart Report Online and a free daily Internet blog at Sy’s Free Blog. In 1999 he authored Riding The Bear – How To Prosper In the Coming Bear Market. His latest book is Beat the Market the Easy Way! – Proven Seasonal Strategies Double Market’s Performance!

    It includes our research and analysis on the economy and markets, and provides charts and buy and sell signals on the major market indexes, sectors, bonds, gold, individual stocks and etf’s, including short-sales and ‘inverse’ etf’s.

    It provides two model portfolios as guides. One is based on ourSeasonal Timing Strategy, one on our Market-Timing Strategy.

    In depth updates are provided every Wednesday, with interim ‘hotline’ updates every time we make a trade. An 8-page traditional newsletter Street Smart Report is provided on the website every 3 weeks, in pdf format for viewing or printing out.

    There is the Street Smart School of online technical analysis ‘seminars’,commentaries to keep you ‘street smart’ about Wall Street, and much more. 

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