A key global equity index is testing potentially major resistance.
Unlike in recent years when the U. S. market dominated, stocks around the globe have been on fire this year. Just yesterday, we mentioned the latest great looking breakout underway in the South African stock market. Of course, with all of these individual countries exhibiting strength this year, it stands to reason that the broader indices would also be performing well. One such index is The Global Dow Index (GDOW).
The Global Dow is an equally-weighted index of 150 of the largest stocks in the world and it is one of our favorite barometers of the state of the worldwide equity market. Coming into 2017, we mentioned that the GDOW was facing significant resistance in the form of a 10-year Down trendline stemming from its 2007 all-time high of 2878.
This post was published at Zero Hedge on Aug 10, 2017.
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