Sep
17
No Breakdown Countries vs. Breakdown, from Ken Drees
September 17, 2011 |
Canada, Mexico, S. Korea, USA, UK all have chart patterns that have held the August 11th lows and have zig-zagged sideways to up.
Many more "weaker" countries have broken those lows and are rallying, from lower levels: Italy, Belgium, Switzerland, Malaysia, Netherlands, Austria , Spain, France, Singapore, Taiwan. I am referring to etfs like ewi, ewk, ewl etc.
So it's west vs the rest. So the question is–are the western lows going to hold and do western markets lead up or do they follow them down into another leg of bear? Is the Euro fix baked into the markets or not? QE seems a given, a Greek default is a given, a two tiered Euro is the only real answer, gold going to new higher highs is a given, then do all markets follow up after a shriek down on crocodile tears bad news (Greek out) ???
I mean everyone knows it's bad bad bad bad….
Jordan Low comments:
Could Nikkei vs SPX in 1990 be a guide? Both fell until Sept 1990, and rallied from Sept 1990 - Mar 1991. Thereafter, decoupling occurred.
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