The World’s Barometer
The Standard and Poor’s 500 index has long thought to have been the worlds’ leading indicator of where the markets may be headed, because it comprises the 500 leading world stocks and is representative in composition to the world’s market as a whole. When it does an OKR close to its upwards trend line, and what’s worse, Paris and Frankfurt do the same in the same day (Friday, 19 March), this is a bad sign for world financial markets as a whole. This is not even mentioning the Switzerland, Madrid, Belgium and the Eurostoxx 50 indices are all down sharply, some crossing their trend line. This is in addition the Hong-Kong, Japan, India and other Far-East Markets that somehow can’t get out of their sideways ruts. It may be a while before the uptrend is back on track, and I do mean that the true direction is upwards and, to my belief, we are only in a temporary phase of correction that will surely end soon. Please see the Monthly and Daily Charts below.
This is how the Charts look:
And check out the Monthly Chart:
