The prices of almost everything are down significantly year over year on these world indices. The health care sector is relatively the strongest – yet it is down over 15%. Energy and basic materials are down over 40% in the past 52 weeks.
The European specific corresponding indices are about equal to the world indices.
The sector and industry index charts in the United States are similar to the global and European graphics. Health care is the most relatively strong across all charts.
Charts courtesy of Stockcharts.com
The ten year bond moved back near 3.6% yield today and continues to show no inflation on the horizon.
i see some interesting things on NDX monthly chart .. the wall that stopped the rally last swing high is a line extending from the bottoms of 1992, and 2002 respectively.
Here are my other observations:
A. I see a major turning point in September 2010
B. I can only count 4 waves since 2007 peak which makes favor the view that wave 5 is yet to come.
September to December sounds about right. I expect a long term decline once price completes the current move up.
Hey Ray and Andy, sorry Ray for not getting back to you, work is just too piled up, sometimes its not worth going on vacations….anywho…I was just talking about these scenerios with a friend, lets start w/ my Reverse symetrical triangle that started in 1999, that was A down, B up ended 2000, C ended 02/03, D ended 07, and we are in wave E and we are in another triangle that started in Nov. 08…. OK next, we topped in 07 Grand supercycle wave 3, and we are in 4, and still in wave
A down, did we bottom and end A in March or was that the bottom of 3 again, and we are in a 4 and in that we are in E going up ?? S/P 980-1050 area, then we fall into wave 5 and that ends at 650 ish…or lower…need to calculate length of wave 1…for that one….OK, if that is the case we would still have wave B and Wave C of Grand Supe/cyc 4 or more to finish…do we go sideways, or do we megaphone, its the psychological side that intrigues me more…the Herd, they really are like cattle, feed them, water them, they’ll follow you anywhere…LOL! We just have to remember to not be like them, its hard at times, we get into these patterns of life that is basically the same and we are influenced by so many factors and people, that we stray and end up back with the herd ugh not good. I know I am chewing my cud with Citigroup right now…but I still like it, I also love China right now along with India, and one of my favorites is Hershey kiss’s HSY looks great too, and Oil, look at Sunoco…and VLO has taken a good hit lately and is ripe on the vine… I do not think that this move finishes long term till 2011, wether we bounce around sideways or we have yet to do B, and C waves in this 4th wave. Have to go but will try to get better # this wkend…later.
Libby – Work and kids killing me here too. I think we have another leg up. I hope all had a great 4th.