6 Charts That Scream Global Risk On
- Posted by Greg Harmon
- on October 18th, 2013
Thursday in Shangri La (otherwise known as Coronado) I presented these 6 charts at Stocktoberfest in a Presentation titled Macro Views to illustrate why Global Risk is On!
The Carry Trade, is often expressed through the Australian Dollar/Japanese yen pair. The chart above shows that after completing the Deep Crab harmonic, it is back on…….
..this will act as a tailwind to the Japanese stock market as the Yen weakens, as one example. the chart shows a projected move higher in the Japan iShares, $EWJ, to near 14….
… but that is not the only good looking global market. The German DAX above is making new highs and looks ready to continue. The Deep Crab and Ascending triangle break both target a move to over 11,000………
…..The flows out of Treasuries look poised to continue lower on a longer term scale…..
…..and the US Dollar Index is breaking a long range lower. Should it continue, the tailwind behind the S&P 500, $SPX will keep blowing. The last chart is one view of how far the S&P 500 could run. 1923 is not out of the question at the end of 2014.
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Gregory W. Harmon CMT, CFA, has traded since 1986 and held senior positions including Head of Global Trading, Head of Product Development, Head of Strategy and Director of Equity. (More)
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