{"id":3670,"date":"2014-09-21T12:46:56","date_gmt":"2014-09-21T10:46:56","guid":{"rendered":"https:\/\/blog.malik-management.com\/?p=3670"},"modified":"2014-09-21T12:46:56","modified_gmt":"2014-09-21T10:46:56","slug":"neue-alltime-highs-an-den-us-boersen-was-bedeutet-das","status":"publish","type":"post","link":"https:\/\/www.malik-management.com\/de\/neue-alltime-highs-an-den-us-boersen-was-bedeutet-das\/","title":{"rendered":"Neue all-time Highs an den US-B\u00f6rsen. Was bedeutet das?"},"content":{"rendered":"<p>Ende vergangener Woche (der Nasdaq schon vor 2 Wochen) haben die wichtigsten US-Indices neue H\u00f6chstkurse erreicht. Ist das ein Anzeichen daf\u00fcr, dass nun alles zum Besten steht &#8211; oder kann es gerade das Gegenteil bedeuten? Es k\u00f6nnte beides sein. Es kommt darauf an. Worauf? Auf die Bedingungen, unter denen diese Bewegung stattfindet. Diesmal sind die Bedingungen so schlecht wie selten zuvor. Warum?<br \/>\nIch greife nur die mir am wichtigsten erscheinenden drei Faktoren heraus:<br \/>\nZum ersten: Die <em>Sentiment Indikatoren<\/em> f\u00fcr die Stimmungsmessung\u00a0der Investoren stehen nahe der H\u00f6chstst\u00e4nde, was f\u00fcr stabile weitere Aufw\u00e4rtsbewegungen ein schlechtes Zeichen ist.<br \/>\nZum zweiten zeigen die Charts ein sogenanntes <em>&#8222;Ending Pattern&#8220;.<\/em><br \/>\nUnd drittens, vielleicht am wichtigsten &#8211; die <em>High-Low-Messung<\/em>: In einem frischen, soliden Bull-Market steigen fast alle Aktien. In einem zu Ende gehenden, erm\u00fcdeten\u00a0Bullmarket steigen immer weniger Aktien, und immer mehr beginnen bereits zu fallen.\u00a0Dieses j\u00fcngste Alltime High kam zustande obwohl immer weniger Aktien mitgingen. Subtrahiert man von der Zahl der gestiegenen Aktien die Zahl der gesunkenen Aktien, dann\u00a0 kommt man mit M\u00fche gerade noch auf Null.<br \/>\nZu all dem kann man durchaus auch verschiedene Meinungen haben. Ich selbst jedoch denke, dass sich diese Anzeichen summieren zu einer akuten Sturmwarnung auf h\u00f6chster Gefahrenstufe &#8211; zu einer Perfect-Storm-Warnung &#8230; Falls das so ist, dann w\u00fcrde der gr\u00f6sste geschichtliche R\u00fcckgang der B\u00f6rsenwerte kurz bevorstehen. Das Muster passt zu den Regelm\u00e4ssigkeiten der Kondratieff-Zyklen und w\u00fcrde im Zuge der Grossen Transformation21 das bisherige Finanzsystem durch ein neues abl\u00f6sen. Wie das vonstatten geht, h\u00e4ngt von den Methoden ab, die man f\u00fcr den \u00dcbergang einsetzt.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ende vergangener Woche (der Nasdaq schon vor 2 Wochen) haben die wichtigsten US-Indices neue H\u00f6chstkurse erreicht. Ist das ein Anzeichen daf\u00fcr, dass nun alles zum Besten steht &#8211; oder kann es gerade das Gegenteil bedeuten? Es k\u00f6nnte beides sein. Es kommt darauf an. Worauf? Auf die Bedingungen, unter denen diese Bewegung stattfindet. Diesmal sind die Bedingungen so schlecht wie selten  [&#8230;]<\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_bbp_topic_count":0,"_bbp_reply_count":0,"_bbp_total_topic_count":0,"_bbp_total_reply_count":0,"_bbp_voice_count":0,"_bbp_anonymous_reply_count":0,"_bbp_topic_count_hidden":0,"_bbp_reply_count_hidden":0,"_bbp_forum_subforum_count":0,"footnotes":""},"categories":[141,144,148,153,161,162],"tags":[182,199,288,322],"class_list":["post-3670","post","type-post","status-publish","format-standard","hentry","category-kategorie-allgemein","category-deflation","category-finanzmarkte","category-krise","category-neue-welt","category-neues-funktionieren","tag-bear-market","tag-deflation","tag-schulden","tag-wirtschaftskrise"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Neue all-time Highs an den US-B\u00f6rsen. Was bedeutet das? - Malik Management<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.malik-management.com\/de\/neue-alltime-highs-an-den-us-boersen-was-bedeutet-das\/\" \/>\n<meta property=\"og:locale\" content=\"de_DE\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Neue all-time Highs an den US-B\u00f6rsen. Was bedeutet das? - Malik Management\" \/>\n<meta property=\"og:description\" content=\"Ende vergangener Woche (der Nasdaq schon vor 2 Wochen) haben die wichtigsten US-Indices neue H\u00f6chstkurse erreicht. Ist das ein Anzeichen daf\u00fcr, dass nun alles zum Besten steht &#8211; oder kann es gerade das Gegenteil bedeuten? Es k\u00f6nnte beides sein. Es kommt darauf an. Worauf? Auf die Bedingungen, unter denen diese Bewegung stattfindet. Diesmal sind die Bedingungen so schlecht wie selten [...]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.malik-management.com\/de\/neue-alltime-highs-an-den-us-boersen-was-bedeutet-das\/\" \/>\n<meta property=\"og:site_name\" content=\"Malik Management\" \/>\n<meta property=\"article:published_time\" content=\"2014-09-21T10:46:56+00:00\" \/>\n<meta name=\"author\" content=\"Fredmund Malik\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Verfasst von\" \/>\n\t<meta name=\"twitter:data1\" content=\"Fredmund Malik\" \/>\n\t<meta name=\"twitter:label2\" content=\"Gesch\u00e4tzte Lesezeit\" \/>\n\t<meta name=\"twitter:data2\" content=\"1\u00a0Minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.malik-management.com\/de\/neue-alltime-highs-an-den-us-boersen-was-bedeutet-das\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.malik-management.com\/de\/neue-alltime-highs-an-den-us-boersen-was-bedeutet-das\/\"},\"author\":{\"name\":\"Fredmund Malik\",\"@id\":\"https:\/\/www.malik-management.com\/de\/#\/schema\/person\/91fa82099f35691c4bab52d1f1a81a75\"},\"headline\":\"Neue all-time Highs an den US-B\u00f6rsen. Was bedeutet das?\",\"datePublished\":\"2014-09-21T10:46:56+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.malik-management.com\/de\/neue-alltime-highs-an-den-us-boersen-was-bedeutet-das\/\"},\"wordCount\":284,\"commentCount\":19,\"publisher\":{\"@id\":\"https:\/\/www.malik-management.com\/de\/#organization\"},\"keywords\":[\"Bear Market\",\"Deflation\",\"Schulden\",\"Wirtschaftskrise\"],\"articleSection\":{\"1\":\"Deflation\",\"2\":\"Finanzm\u00e4rkte\",\"3\":\"Krise\",\"4\":\"Neue Welt\",\"5\":\"Neues Funktionieren\"},\"inLanguage\":\"de\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.malik-management.com\/de\/neue-alltime-highs-an-den-us-boersen-was-bedeutet-das\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.malik-management.com\/de\/neue-alltime-highs-an-den-us-boersen-was-bedeutet-das\/\",\"url\":\"https:\/\/www.malik-management.com\/de\/neue-alltime-highs-an-den-us-boersen-was-bedeutet-das\/\",\"name\":\"Neue all-time Highs an den US-B\u00f6rsen. Was bedeutet das? - Malik Management\",\"isPartOf\":{\"@id\":\"https:\/\/www.malik-management.com\/de\/#website\"},\"datePublished\":\"2014-09-21T10:46:56+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/www.malik-management.com\/de\/neue-alltime-highs-an-den-us-boersen-was-bedeutet-das\/#breadcrumb\"},\"inLanguage\":\"de\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.malik-management.com\/de\/neue-alltime-highs-an-den-us-boersen-was-bedeutet-das\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.malik-management.com\/de\/neue-alltime-highs-an-den-us-boersen-was-bedeutet-das\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.malik-management.com\/de\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Neue all-time Highs an den US-B\u00f6rsen. Was bedeutet das?\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.malik-management.com\/de\/#website\",\"url\":\"https:\/\/www.malik-management.com\/de\/\",\"name\":\"Malik Management\",\"description\":\"Beyond conventional management\",\"publisher\":{\"@id\":\"https:\/\/www.malik-management.com\/de\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.malik-management.com\/de\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"de\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/www.malik-management.com\/de\/#organization\",\"name\":\"malik international AG\",\"url\":\"https:\/\/www.malik-management.com\/de\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"de\",\"@id\":\"https:\/\/www.malik-management.com\/de\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/www.malik-management.com\/wp-content\/uploads\/2018\/09\/Logo_malik_weiss-klein3.png\",\"contentUrl\":\"https:\/\/www.malik-management.com\/wp-content\/uploads\/2018\/09\/Logo_malik_weiss-klein3.png\",\"width\":140,\"height\":41,\"caption\":\"malik international AG\"},\"image\":{\"@id\":\"https:\/\/www.malik-management.com\/de\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.linkedin.com\/company\/30160\",\"https:\/\/www.youtube.com\/user\/malikmanagement\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.malik-management.com\/de\/#\/schema\/person\/91fa82099f35691c4bab52d1f1a81a75\",\"name\":\"Fredmund Malik\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"de\",\"@id\":\"https:\/\/www.malik-management.com\/de\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/c3e7cc7ddd118be0e1666fe325eb6f40d06d9cd5b895ff464617c49bf8c7f26f?s=96&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/c3e7cc7ddd118be0e1666fe325eb6f40d06d9cd5b895ff464617c49bf8c7f26f?s=96&r=g\",\"caption\":\"Fredmund Malik\"},\"description\":\"\\\"Malik is one of the most influential business thinkers...\\\" (Business Week) \\\"Malik has become the leading expert on Management in Europe... He is a commanding figure - in theory as well as in the practice of Management.\\\" (Peter Drucker, Doyen of Management)\",\"sameAs\":[\"https:\/\/www.malik-management.com\/de\/fredmund-malik\/zur-person\/\"],\"url\":\"https:\/\/www.malik-management.com\/de\/author\/fmalik\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Neue all-time Highs an den US-B\u00f6rsen. Was bedeutet das? - Malik Management","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.malik-management.com\/de\/neue-alltime-highs-an-den-us-boersen-was-bedeutet-das\/","og_locale":"de_DE","og_type":"article","og_title":"Neue all-time Highs an den US-B\u00f6rsen. Was bedeutet das? - Malik Management","og_description":"Ende vergangener Woche (der Nasdaq schon vor 2 Wochen) haben die wichtigsten US-Indices neue H\u00f6chstkurse erreicht. Ist das ein Anzeichen daf\u00fcr, dass nun alles zum Besten steht &#8211; oder kann es gerade das Gegenteil bedeuten? Es k\u00f6nnte beides sein. Es kommt darauf an. Worauf? Auf die Bedingungen, unter denen diese Bewegung stattfindet. Diesmal sind die Bedingungen so schlecht wie selten [...]","og_url":"https:\/\/www.malik-management.com\/de\/neue-alltime-highs-an-den-us-boersen-was-bedeutet-das\/","og_site_name":"Malik Management","article_published_time":"2014-09-21T10:46:56+00:00","author":"Fredmund Malik","twitter_card":"summary_large_image","twitter_misc":{"Verfasst von":"Fredmund Malik","Gesch\u00e4tzte Lesezeit":"1\u00a0Minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.malik-management.com\/de\/neue-alltime-highs-an-den-us-boersen-was-bedeutet-das\/#article","isPartOf":{"@id":"https:\/\/www.malik-management.com\/de\/neue-alltime-highs-an-den-us-boersen-was-bedeutet-das\/"},"author":{"name":"Fredmund Malik","@id":"https:\/\/www.malik-management.com\/de\/#\/schema\/person\/91fa82099f35691c4bab52d1f1a81a75"},"headline":"Neue all-time Highs an den US-B\u00f6rsen. Was bedeutet das?","datePublished":"2014-09-21T10:46:56+00:00","mainEntityOfPage":{"@id":"https:\/\/www.malik-management.com\/de\/neue-alltime-highs-an-den-us-boersen-was-bedeutet-das\/"},"wordCount":284,"commentCount":19,"publisher":{"@id":"https:\/\/www.malik-management.com\/de\/#organization"},"keywords":["Bear Market","Deflation","Schulden","Wirtschaftskrise"],"articleSection":{"1":"Deflation","2":"Finanzm\u00e4rkte","3":"Krise","4":"Neue Welt","5":"Neues Funktionieren"},"inLanguage":"de","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.malik-management.com\/de\/neue-alltime-highs-an-den-us-boersen-was-bedeutet-das\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.malik-management.com\/de\/neue-alltime-highs-an-den-us-boersen-was-bedeutet-das\/","url":"https:\/\/www.malik-management.com\/de\/neue-alltime-highs-an-den-us-boersen-was-bedeutet-das\/","name":"Neue all-time Highs an den US-B\u00f6rsen. Was bedeutet das? - Malik Management","isPartOf":{"@id":"https:\/\/www.malik-management.com\/de\/#website"},"datePublished":"2014-09-21T10:46:56+00:00","breadcrumb":{"@id":"https:\/\/www.malik-management.com\/de\/neue-alltime-highs-an-den-us-boersen-was-bedeutet-das\/#breadcrumb"},"inLanguage":"de","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.malik-management.com\/de\/neue-alltime-highs-an-den-us-boersen-was-bedeutet-das\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.malik-management.com\/de\/neue-alltime-highs-an-den-us-boersen-was-bedeutet-das\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.malik-management.com\/de\/"},{"@type":"ListItem","position":2,"name":"Neue all-time Highs an den US-B\u00f6rsen. Was bedeutet das?"}]},{"@type":"WebSite","@id":"https:\/\/www.malik-management.com\/de\/#website","url":"https:\/\/www.malik-management.com\/de\/","name":"Malik Management","description":"Beyond conventional management","publisher":{"@id":"https:\/\/www.malik-management.com\/de\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.malik-management.com\/de\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"de"},{"@type":"Organization","@id":"https:\/\/www.malik-management.com\/de\/#organization","name":"malik international AG","url":"https:\/\/www.malik-management.com\/de\/","logo":{"@type":"ImageObject","inLanguage":"de","@id":"https:\/\/www.malik-management.com\/de\/#\/schema\/logo\/image\/","url":"https:\/\/www.malik-management.com\/wp-content\/uploads\/2018\/09\/Logo_malik_weiss-klein3.png","contentUrl":"https:\/\/www.malik-management.com\/wp-content\/uploads\/2018\/09\/Logo_malik_weiss-klein3.png","width":140,"height":41,"caption":"malik international AG"},"image":{"@id":"https:\/\/www.malik-management.com\/de\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.linkedin.com\/company\/30160","https:\/\/www.youtube.com\/user\/malikmanagement"]},{"@type":"Person","@id":"https:\/\/www.malik-management.com\/de\/#\/schema\/person\/91fa82099f35691c4bab52d1f1a81a75","name":"Fredmund Malik","image":{"@type":"ImageObject","inLanguage":"de","@id":"https:\/\/www.malik-management.com\/de\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/c3e7cc7ddd118be0e1666fe325eb6f40d06d9cd5b895ff464617c49bf8c7f26f?s=96&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/c3e7cc7ddd118be0e1666fe325eb6f40d06d9cd5b895ff464617c49bf8c7f26f?s=96&r=g","caption":"Fredmund Malik"},"description":"\"Malik is one of the most influential business thinkers...\" (Business Week) \"Malik has become the leading expert on Management in Europe... He is a commanding figure - in theory as well as in the practice of Management.\" (Peter Drucker, Doyen of Management)","sameAs":["https:\/\/www.malik-management.com\/de\/fredmund-malik\/zur-person\/"],"url":"https:\/\/www.malik-management.com\/de\/author\/fmalik\/"}]}},"_links":{"self":[{"href":"https:\/\/www.malik-management.com\/de\/wp-json\/wp\/v2\/posts\/3670","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.malik-management.com\/de\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.malik-management.com\/de\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.malik-management.com\/de\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/www.malik-management.com\/de\/wp-json\/wp\/v2\/comments?post=3670"}],"version-history":[{"count":0,"href":"https:\/\/www.malik-management.com\/de\/wp-json\/wp\/v2\/posts\/3670\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.malik-management.com\/de\/wp-json\/wp\/v2\/media?parent=3670"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.malik-management.com\/de\/wp-json\/wp\/v2\/categories?post=3670"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.malik-management.com\/de\/wp-json\/wp\/v2\/tags?post=3670"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}