by Sy Harding, Silver Phoenix 500:
After an unusual blow-out 2013, the U.S. stock market has gone nowhere so far this year.
Down for January, back up for February, and sideways for March, the Dow is 1% below its record high reached at the end of the year, and thus down 1% for 2014 so far, while the S&P 500 is up just one percent.
Yet, just holding on near its record high is a significant accomplishment for the U.S. market, given that it faces the same global economic and political concerns that have its important global trading partners in retreat, some even in substantial bear markets.
Even Europe, which was steadfast in tracking with the U.S. market throughout the five-year bull market, including reaching new highs at the end of 2013, is showing signs of abandoning its bullish stance, its February rally failing at lower highs.
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