Thursday, July 23, 2009

Stocks Continue To Surge Higher



Stocks moved higher today with the all the major indices advancing between 2 and 3 percent from yesterday's close. The only red on my screen today was the put/call ratio!

In the lower pane you can see a daily chart of the Shanghai index. Notice how this market is accelerating to the upside and gaining momentum since March. As long as the Shanghai index continues to move higher, I think the S&P will also continue to rally.

1 comment:

Anonymous said...

Hi Kevin, great post.

I totally understand your rationale. However, if you run the regression between the two, the correlation actually is not that great.

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