The year to date chart below makes it clear that the US Shares Markets SPY, DJI, QQQ, and the RUT outperformed Gold and Bitcoin since January 1, 2018.
The Cryptocurrency market remains strongly bearish as does Gold. Both are going to bottom and turn so we will keep our members posted as to when the turn occurs.
In the Dow, we still see next week as a turning point. We need a closing above 25635 to imply new highs, but a closing above 25432 to stabilize. A closing beneath 25052 will signal a resumption of the decline.
Everything is relative so when we look at the Dow through the eyes of world currencies, it is breaking out to the upside. Keep in mind that it is IMPOSSIBLE to get a major collapse in the US markets when there is a crisis in the world economy that results in a flight to the dollar. All the “Financial Gurus” that have been coming out forecasting the collapse of the US Stock Market are looking only at domestic political issues and rising interest rates. They do not track the global economic picture like socialisms collapse in South America and Europe. This makes all the difference because capital flows are coming to the USA at this time.
InterAnalyst has been serving investors globally since 1990. Authoring hundreds financial articles and publications, thousands of trading charts to investors worldwide.