The Iraq war of 2003 doesn’t have many parallels to Russia’s invasion of Ukraine, other than perhaps global unpopularity. But there seems to be at least one parallel — how stocks have behaved, as this chart shows. In Europe and the U.K., most stocks are still below their 200-day moving averages in Europe and U.S., it is about half — 51% of S&P 500 companies are below average. Analyst: If stocks were to continue the Iraq path, there would be sideways moves over the next 10 trading days but some 5% to 10% upside over next two months. With stocks in the spotlight, it might be worth taking a long-term perspective, commodities are worth taking the spotlight . . .
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