In his seminal work, Secrets to Profiting in Bull & Bear Markets, Stan Weinstein talks about the importance of watching the global stock markets:
My studies have convinced me that the most profitable market moves in the United States occur when the overwhelming majority of the world markets are in agreement.
So I decided to put the recent US market advance to the test to see if other stock markets around the world have moved in agreement. I looked at many markets (including but not limited to):
… and a few others
Only a small handful were not making new highs: Spain (due to the real estate issues), Nikkei (can we blame the Yen?), Hong Kong, Russia, Argentina and Phillipines. Most looked like this chart, the Dow Jones World Stock Index:
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