Global Stock Market Breakout Starts
Stock-Markets / Stock Markets 2015 Feb 24, 2015 - 07:40 AM GMTBy: Donald_W_Dony
After over six months of concern that the 6-year old world bull market was coming to an end, a collective upside breakout has developed.
Lead, first by the U.S. markets, and then one-by-one, global equity markets started to follow and advance.
Japan's Nikkei, one of the key world indexes, broke to a new high in Q4 and then advanced to a new 10-year high in February.
The collective STOXX Europe 600 surged to a new post 2009 level in Q1 and is set to retest the old 2007 high of 400.31 in the weeks to come.
Even commodity-laden indexes like the Australia's All Ordinaries (ASX) and Canada's TSX, are breaking out and advancing to new levels.
Numerous other key world indexes such as India's BSE, Hong Kong's Hang Seng and China's Shanghai are also following in the upward trend.
Bottom line: We see this positive outlook continuing into Q2 and believe many world indexes will achieve new highs in 2015.
Investment approach: We suggest investors remain long in 2015 and weight portfolios toward non-commodity industry groups and indexes. The lower chart highlights our rationale. The S&P 500 has outperformed the Commodity Research Bureau Index since 2012.
By Donald W. Dony, FCSI, MFTA
www.technicalspeculator.com
COPYRIGHT © 2015 Donald W. Dony
Donald W. Dony, FCSI, MFTA has been in the investment profession for over 20 years, first as a stock broker in the mid 1980's and then as the principal of D. W. Dony and Associates Inc., a financial consulting firm to present. He is the editor and publisher of the Technical Speculator, a monthly international investment newsletter, which specializes in major world equity markets, currencies, bonds and interest rates as well as the precious metals markets.
Donald is also an instructor for the Canadian Securities Institute (CSI). He is often called upon to design technical analysis training programs and to provide teaching to industry professionals on technical analysis at many of Canada's leading brokerage firms. He is a respected specialist in the area of intermarket and cycle analysis and a frequent speaker at investment conferences.
Mr. Dony is a member of the Canadian Society of Technical Analysts (CSTA) and the International Federation of Technical Analysts (IFTA).
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