Substantive US analyst John Murphy has evaluated a number of bulllish signs that point to this rally being prolonged in the USA for many key sectors. This may well be beneficial for Australian stocks with a presence there, and add generally to the medium term bullish tone here.
I am not suggesting naturally this will prevent the normal minor cyclic rises and falls in the local market.
Recent strength has emerged in the Transport and Financials sectors states Murphy, which are breaking upward towards ... the US market often does well when this combination is leading when accompanied by the techs, which have finally lifted, with the SOX semi-conductors index after sliding for months.
The long declining Nasdaq shows evidence of outperfoming at last.
