Tips & Ideas 

Surging higher

There were no official buys given by our Coppock indicators for major markets this month - not surprising given the continued surge in stock markets around the world. Fourteen of the 24 markets covered by our data hit new highs late in October, buoyed by the resolution of the US debt debacle, the prospect of continued QE and further signs that China's growth engine is not, as had been feared, running out of steam. Despite that, Hong Kong's Hang Seng - a proxy for China - did give a sell signal, a rapid reversal from last month's unofficial buy on worries that central bankers in the People’s Republic were looking to rein in credit. ‘Seesaw’ has been a much used word to describe the index’s performance over the last month.

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