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Global Markets No Longer Dragging On US Market?

  • Written by Syndicated Publisher No Comments Comments
    November 4, 2014

    One of the big concerns during the summer and fall months was that tumbling global markets were likely to drag the U.S. market down with them.

    That worry received considerable relief in the big back-to-back market gains of the last two weeks. The big weeks were across the board globally.

    Not many global markets broke out to new highs like the Dow and S&P 500, but they did rally significantly off their lows.

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    Gold.

    Gold plunged to new bear market lows this week. Gold bullion closed at a 4-year low yesterday.

    But the gold mining stocks, already at new bear market lows, plunged another 14% this week, and are at a 12-year low, having given back almost all of their gains made in gold’s huge bull market that began in 2000.

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    Needless to say we remain on the sell signal for gold.

    To read my weekend newspaper column click here:    Don’t Let Greed Lure You Into Scams!

    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 from Wednesday is in your secure area of the Street Smart Report website.

    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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