The retirement age in France was raised from 62 to 65 and of course they rioted. Maybe they can move to Turkey and get on the gov't dole at 45. Look what the specter of a European migration to higher retirement ages did to the Turkish stock market (via an ETF):
Australia is at 67. Their currency is hot. And they avoided a good chunk of the financial crisis.
The more I read about Oz, the more I want to check them out in person. Vegemite, anyone?
4 comments:
Michael, speaking of currency, I see the U.S. Dollar has risen in the last few sessions. Zooming out on the Dollar Index chart, I see the index values on the following dates line up to a perfect uptrend:
10/13/2010
11/23/2009
7/10/2008
4/16/2008
would you agree this is a valid trend line? This will become significant if we see the U.S. dollar rise further and the U.S. stocks rise in conjunction at the cost of some hot emerging markets. Some of them seem to have reached well above their 50-day EMA and appear to have started a pull back. I won't be surprised to see them stall while the U.S. stocks outperform in the short run.
Michael, enjoyed your "Getting Technical" article today. Nice summary of a difficult market.
Looking at the iShares 20+ Treasury ETF (TLT), could that be a bullish falling wedge formation?
Amalan,
See my Marketwatch story coming out Nov 1., Basically, the answer is no. But it is part of a larger pattern.
Paul,
It could be a wedge but I don't think so. It has already exceeded a Fibo 38.2% retrace in both price and time.
Post a Comment