The following Daily charts show price action for 1 year on the SPX and other select major world indices. I've chosen these simply to illustrate comparative market strength of these regions.
If you look at price action from the beginning of 2013, you can see that Japan's Nikkei has gained the most, followed by the SPX, London's FTSE, Germany's DAX, France's CAC, and Australia's AORD. The laggards have been the BRIC countries, although India is slightly in the green for the year. This is more easily seen on the following Year-to-date percentage gained/lost graph.
This news has just been released regarding the ECB's EFSF (I've written about the EFSF and the OMT here relative to the OMT's legitimacy):
Any substantial weakening of the EU countries (particularly below the 50 MA) in response to this news could have a negative affect on the SPX, as well as the already-depressed BRIC countries...ones to watch over the days/weeks to come.
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The charts, graphs and comments in my Trading Blog represent my technical analysis and observations of a variety of world markets...
* Major World Market Indices * Futures Markets * U.S. Sectors and ETFs * Commodities * U.S. Bonds * Forex
DISCLAIMER: All the information contained within my posts are my opinions only and none of it may be construed as financial or trading advice...
please read my full Disclaimer at this link.
UPCOMING (MAJOR) ECONOMIC EVENTS...
* Thurs. Aug. 24, Fri. 25 & Sat. 26 ~ Jackson Hole Economic Policy Symposium -- (Fri. @ 10:00 am ET ~ Janet Yellen speaks)
* Fri. Sept. 1 @ 8:30 am ET ~ Employment Data
* Mon. Sept. 4 ~ Labour Day holiday...U.S. markets closed...Canadian markets closed
* Wed. Sept. 6 @ 2:00 pm ET ~ Beige Book Report
* Tues. Sept. 19 ~ 2-day FOMC Meeting Begins
* Wed. Sept. 20 @ 2:00 pm ET ~ FOMC Announcement + FOMC Forecasts + @ 2:30 pm ET ~ Fed Chair Press Conference
* Wed. Oct. 11 @ 2:00 pm ET ~ FOMC Meeting Minutes
* Tues. Oct. 31 ~ 2-day FOMC Meeting Begins
* Wed. Nov. 1 @ 2:00 pm ET ~ FOMC Announcement
* Tues. Dec. 12 ~ 2-day FOMC Meeting Begins
* Wed. Dec. 13 @ 2:00 pm ET ~ FOMC Announcement + FOMC Forecasts + @ 2:30 pm ET ~ Fed Chair Press Conference