While the vast majority of commentators are hell-bent on analyzing the Dow, S&P and Nasdaq and coming to the conclusion that world equity markets are about to “roll-over” and “re-test” their March lows……just look at what is happening to “risky” emerging markets. Both EEM (large cap emerging market stocks ETF) and DGS (small cap emerging market stocks ETF) made new multi-week highs yesterday. If the equity market were truly bearish then emerging market stocks would not be making new highs………follow the lead of the market!
Into the valley of darkness we go again…….guided only by the light of the market!
