The Nasdaq Composite Index has entered a bull market and stocks may continue to rally through the end of March, according to Louise Yamada, who said in December that equity charts were signaling further losses.
Gold may resume a slump following the July rally of 7.3 percent, the most in 18 months, said Louise Yamada, the managing director of Technical Research Advisors LLC, citing momentum and moving-average signals.
Hedge funds raised their bullish gold bets to a six-week high, splitting with analysts at Technical Research Advisors LLC and Goldman Sachs Group Inc. who are predicting more declines after last year’s rout.
U.S. stocks fell, pulling the Standard & Poor’s 500 Index down from the highest level since 2008, while the euro weakened and Treasuries gained as Spain raised its budget-deficit estimate for 2012 and German retail sales unexpectedly declined. Bond risk rose and oil declined.