Here are Bespoke’s unbeatable trading range charts for 22 key equity markets around the world. The light blue shading represents one standard deviation above and below each index’s 50-day moving average. The green shading represents between one and two standard deviations below the 50-day, and vice versa for the red shading. Most countries continue to trade into oversold territory, but some have been getting hit extra hard while others have rallied off of their lows. Some countries that failed to bounce off the July lows include Brazil, China, Hong Kong, Malaysia, Mexico, Russia and South Africa. On the other hand, India, most of Europe, and the US have come off their lows and are testing their 50-day moving averages.
June 24, 2008 - Courtesy of Bespoke Investment Group - The recent selloff in equities has really spared no one. As shown in our trading range charts below of 22 major country indices, the trend has been down across the board in recent weeks. Even Brazil, Mexico and Russia, who had all held up relatively well this year, have sold off quite a bit. Currently, 19 of the 22 countries are trading in oversold territory (Canada, Japan and Russia are neutral). European countries like France, Germany and Italy have really taken it on the chin, while China and India remain the biggest losers in 2008. After forming short-term uptrends off of the March lows, global equity markets have now lost most of their gains and are looking to move back into downtrends.
Donald Coxe: Capitalism Faces its Greatest Challenge
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Heebner and Holmes on Emerging Markets
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Ken Heebner, CGM Funds, and Frank Holmes, US Global Investors, discuss emerging markets in the context of the Fed's 50 bps rate cut last week. Both their
Wise Words
It’s not that I’m so smart, it’s just that I stay with problems longer. — Albert Einstein
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Wall Street Journal's What's News, Nov. 18, 2008by The Wall Street Journal
Yahoo CEO Jerry Yang will step down and Senator Harry Reid has pledged to press ahead with legislation to help automakers
Jeffrey Saut Daily Audio Comment Raymond James
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