I am, therefore, bullish on German stocks, since they too have broken out to new all time highs:
The chart above is a long term monthly chart of the German DAX. Notice, as well, that German stocks are barely trading higher than they were in the year 2000.
I've been reading a lot lately that stocks are super over-extended and in a bubble. Based on the fact that most stocks, even US stocks, have made almost no progress in the past 13 years, I do not share this opinion.
If you think making no progress in 13 years is bad, then consider Japanese stocks, which are trading at the same level they were in 1986:
Zooming in, here is a weekly chart of the Japanese iShares, EWJ:
The weekly chart above shows what, to me, is a bullish flag on the verge of breaking out.
Finally, even Canadian stocks are making new highs:
Bottom line: globally, stocks are currently rising and making new all time highs, or at least 52 week highs. Why fight that trend?
