26 April 2009

Chart of the day

Interesting chart from Chart of the Day, showing that the S&P500 is testing the resistance of its newly established trend channel in October 2008 following the September meltdown and is currently testing resistance.

Don't forget that, whilst the US market leash effect on the rest of the world cannot be severed yet, it is not leading the recovery: emerging markets are, and China in particular, that display double digit growth since the start of the current rally early March vs. single digit for most developed markets.