Europe takes over.
Investors Chronicle - magazine and web content, May, 2007
European markets have taken over leadership from the US, which now looks set for an extended pause, according to The Trader. And one of London's leading miners looks a prime candidate for a pairs trade Marc Rivalland
For a change it was the European markets which have provided the leadership. For several weeks European markets have been responding only grudgingly to relentless American strength. But on Friday 18 May, it was the FTSE 100 and then the Europeans which led the US higher. I like this development.
Once again there are signs of over-extension in the US markets. The Dow Jones Industrial Average is butting up against the top of its Bollinger bands. Its weekly relative strength index is at 87.4 per cent , the highest level since 16th January...
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