Primary trends are always international in scope. On this premise, let's take a look at some of the international indices and averages.
Below, the Global Dow is not at a new high.
Morgan Stanley's World Index (minus the US) failed to make a new high.
Russia's stock index is selling off.
China is also selling off.
Brazil failed to make a new high, despite the golden cross of its two moving averages.
One of the most important pieces of evidence pointing to higher prices is the advance-decline line of the NYSE. Below we see the A-D line at new highs. And as you can see, the angle of ascent has become steeper. Ultimately, it is PRICE that decides whether we win or lose after purchasing stocks. However, when more stocks are advancing than declining, it's almost always a bullish indication, and that's what the advance-decline shows us.
I wonder if GDX is calling the ... Log in or subscribe to continue reading.
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