Neck-breaking Bulls Of "The China 5" And Eurozone

Almost everyone is talking about the strong bull market in equities and broad based economic recovery? Well, the other day I was running through the Eurozone stock screens, and noticed that Eurozone benchmarks like EuroStoxx and EuroStoxx 50 have barely moved in the last 6 months. Click on chart to enlarge.

Well, assuming where the epicenter of current sovereign debt crisis is, one may say it is no wonder. Then, I decided to look at roaring China and "The China 5". China itself, and its neighbouring financial centre of Hong Kong are actually down from late October 2009. The rest of "The China 5" also have not done very much ... Click on chart to enlarge.

However, there are bull markets around. Bull market gurus would suggest that this is bullish consolidation before the next leg up. Like the Fisher Investments suggest:

...Aside from a few minor setbacks, it has continued its surge from the bottom. We expect more stories will surface, and a few of those will cause the bull to buck. Short and sharp, corrections are to be expected, but not dodged. Young bull markets eat such fire and brimstone for breakfast.

Indeed, is it very likely that Goldman's Big Swinging Dicks have already spoiled the exhausting equity party?