Doug Short: Most weekends I post an update on world market performance with a focus on eight major world indexes denominated in their own currency. This morning my friend and master market technician Chris Kimble called attention to the IMF’s report posted on their website: Global Growth Disappoints, Pace of Recovery Uneven and Country-Specific:
The weaker than expected growth outlook for 2014 reflects setbacks to economic activity in the advanced economies during the first half of 2014, and a less optimistic outlook for several emerging market economies, says the report.
Potential growth rates—that is, the pace at which annual output can expand without pushing up inflation—are also being revised down. “These worse prospects are in turn affecting confidence, demand, and growth today,” says Olivier Blanchard, Economic Counselor and head of the IMF’s Research Department.
Chris Kimble has taken a look at the S&P 500 and five world markets (see his commentary here). Here is his accompanying chart six-pack.
Chris comments: “At this time the S&P 500 remains above support. Will it be able to “buck the global trend?”
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