As investors finally seem to be realizing the reality, let’s review the bull argument. The Trader has been arguing that the perceived bull is larger than the actual bull. By that we mean, majority of indices have not performed as well as one might read in the main stream media. In Europe the DAX has performed relatively well this year, but there are many other indices actually trading in negative territory. But not the broader indices, or?
No the Eurostoxx 50 is still up on the year, but diminishing. The point is, if you didn’t catch the first couple of weeks in January, you are down on many indices, especially the Spanish Ibex, but also the Eurostoxx 50 and the Italian MIB. Once again, the real bull is not as strong as one might believe.
Chart since the beginning of this year. Ibex clearly the dog (dark blue), but Eurostoxx, MIB and OMX (light blue, orange, red) are all coming off towards the flat line. The only index still up nicely is the DAX. Time for the DAX (black) to come down to reality as well?
For Gold and Silver charts click here [3].
