Weekend Charting and Chat - 26th May 2017, page-6

Just checking price history for the YTD for the XJO and the SP500 and the disconnect is very marked.
The change in XJO from the beginning of January to the close on the 26th May is 0.0%.
The change in the SP500 over the same time frame is 6.4% up. And the US market although breaking ATHs is not having an extraordinary boom, although it is doing a bit better than a typical year.
The XJO is currently 4.6% below its recent high in March 2015 and a huge 19% below its all time high reached in November 2007.
In the 9.5 year time frame while our index has lost 19%, the US index has increased by 54%.
Statistical analysis might indicate something like no correlation or even a degree of negative correlation between the two indices. I haven't done the calculation but could do so fairly quickly.
My conclusion to all this will be that I will still follow the progress of the 3 main US Indices, but only out of interest, and definitely not as a guide as to how our local market might behave in the short term.
All up it is a bit sad for the majority of LT buy and hold investors locally.