Eyeing the Ugliest Europe Chart
While the general flow of economic reports in the U.S. remains upbeat, the picture in Europe is much more mixed. Dollops of good news have interspersed with the bad, although much of it is November data. Retail sales in Germany, industrial output in the European Union and industrial production in France have all surprised to the upside. Given the outright bearish sentiment on the European economy, and subsequently the European equity markets, it's worth a closer look at current market technicals.
The Stoxx Europe 600 price index, a broad cap-weighted average of Europe-based companies, has been basing for several weeks now. It's now threatening to break out to the upside. Sporting a trailing price-to-earnings ratio of less than 12x, and a dividend yield just below 4%, this index recently completed a 61.8% retracement of the entire upward move from the March 2009 lows....668 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
There’s no substitute for a trading floor to get great ideas, so Jim Cramer created a better one at Real Money and blogs there exclusively. We then added legendary hedge fund manager, Doug Kass, with his exclusive Daily Diary and best investing ideas. Staffed with more than 4 dozen investing pros, money managers, journalists and analysts, Real Money Pro gives you a flood of opinions, analysis and actionable trading advice found nowhere else, and allows you to interact directly with each expert.
Already a Subscriber? Please login.