2014: Continuation of the liquidity driven rally.

Happy New year 2014!
Nikkei - my favorite long - was the top market of 2013, and still is.
S&P, long signal confirmed in April and broke first target 1750 and now heading to 1850/2000
Eurostoxx broke 2012/2011 highs and is heading slowly towards 3300
Both were cautious long , and the expected correction in H2 never came, with no sell signal  triggered

Gold, long in the summer went up to be back where it was. Stop not triggered, still a - contrarian buy.


Nikkei Monthly chart: Keep the long

Broke downtrend line, the momentum is still up heading towards 18500, then 21000
Overbought, but still upward momentum

Keep the long










S&P500 Monthly: first target reached 1750

S&P500, overbought, is heading towards 1850-2000 area.

Keep the long














Eurostoxx 50 Monthly: Broke 2012 highs

Heading towards 3300- 3500 area.
Momentum still up though market is overbought.

Keep long













Conclusions: Not many changes vs my previous recommendations, ie, keep long on Japan , still my favorite long, then US, and Europe ( in that order) has some further espace. Gold is now a contrarian BUY.
USD chart has no clear signals


Happy investing

Jean