Leading Indicators
Here are graphs for the two leading indices that I follow: Shanghai Stock Exchange Index and 10-Year Bond Yields (TNX – American Bonds). Both did well this week but remain below their respective 65-Day Moving Averages. On the TNX, every time recently that the chart has hit the 65DSMA, it has retreated. That now looks like the “line in the sand”. Unless both these indices can resume their uptrends this quarter, the outlook for 2010 looks grim.
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