Portugal...The Eurozone Poor Relative
Below are several charts and graphs (available at www.Stockcharts.com) comparing the German DAX, French CAC, Portuguese PSI, and Greek GRDOW Indices over three different time periods.
The first two are taken over the past three months. We can see on these that although the DAX and CAC began to rally in November, Greece continued to drop until last week, and Portugal has basically moved sideways from November. Here's the Graph.
The next four depict the recent surge in the Greek index compared with the other three indices as talks are underway over Greek debt...the first two begin on January 2nd, 2012, and the last two begin on January 16th. Here's the Graph.
The last Daily chart below of the Portuguese Index shows diverging, declining momentum (on the last rally from mid-December) and is now in negative territory, and no positive divergence yet on Stochastics...one to watch for either continued weakness and a break below the shorter-term uptrend, or a breakout above and reversal of the senior downtrend. Here's the Chart.