Monday, 20 January 2014

The EU PIIGS are still rising

Despite the huge underlying macro-economic problems, the equity indexes of the EU PIIGS are still broadly rising. This bodes well for the stronger economies/markets of the USA, Germany, and even least into the late spring.

Greece, monthly

Italy, monthly

Spain, monthly


There is little to add from my recent world monthly index update from two weeks ago.

Suffice to say, the broader up trend does continue, and unquestionably, that is a bullish sign for most of the world equity markets, not least the USA, Germany, and Japan.

The late spring targets for Greece, Italy, and Spain, remain 1500, 22500, and 12000 respectively.

If those are hit, it'd probably equate to sp'1950/2050, with Dow 17250/500

a little more later, probably on the VIX