Odysseus, I agree. I've always felt our market is oversold and should eventually diverge form the US - unless if the US happens to go up strongly, which is possible.
One thing I've always kept an eye on is the Baltic Dry shipping Index (http://investmenttools.com/futures/bdi_baltic_dry_index.htm). It's a very good thermometer of current and future economic growth and production. I was surprised to see it making new highs after a deep correction early this year. I'm just about convinced the world is entering a final phase in the grand bull market.
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