Only Way for Stocks, Commodities to Go Is Up: Charts
With investors buying stocks and commodities and using the dollar as a carry trade, global stocks are just at the beginning of a significant trend higher, Chris Zwermann, global strategist at Zwermann Financial said Wednesday.
When looking at the chart for the DAX, Zwermann told CNBC the index is in a bull market and that it will pare back over the next few days before resuming its upward move. He has a target of 5,800 for the German index.
The FTSE-100 index is also in a bull market and after a minor setback, is looking to head up to 4,950, according to Zwermann.
Emerging markets, like Poland's Polen index, have also broken the bear-market trend and are now just at the beginning of a strong bull run, he said. He sees the index rising to 2,130.
Silver is a "front-runner behind the market," Zwermann told CNBC. The precious metal, like other commodities, is also in an upward trend. He sees silver "taking out" $16.20 and heading toward $19 "very soon."