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Wednesday, April 30, 2014

How's the rest of the world's stock market doing?


So since the US is quite obviously rolling over into another horrible crash as predicted by geniuses like Peter Schiff and Raoul Pal, the rest of the world must be crashing too, right?

Right?

Here's CIE, the Canadian ETF for developed world ex-US:


Still looks great on the weekly, no? Quite a sexy chart, in fact, except for the whole having gone up 50% in 2 years bit. Also neat how the last time the long-term trend slope weakened was the same time last year - after which it went on a 30% tear.

What about the daily? Let's zoom in:


If anything, that's a chart threatening to break out even higher. A pop over $17.80 or so is way buyable.

The funny thing is, this is the top-10 country mix for that ETF:

Country % of Fund Country % of Fund
Japan
18.84%
Australia
6.52%
United Kingdom
15.20%
Switzerland
5.23%
France
10.48%
Netherlands
5.08%
Germany
8.56%
Spain
4.75%
Canada
6.91%
Italy
4.15% 

Japan quit moving, Australia sucks, Canada sucks, France is full of communists, and yet this chart still goes up.

But do go on and tell me how the S&P is about to roll over and the US economy is falling to pieces, mister Republican Echo Chamber Lemming.


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