Big top scenario is still a danger.
Similar top scenario for the S&P. But note
that volume has been increasing over the last year. We
would usually expect volume to fall as a top falls. But
if we get a close at 1,800 you can forget about volume.
Close to the six-decade mean.
Nasdaq presents the same top scenario as that
of the S&P and the Dow.
Bearish divergence since mid-2012: the
index rose while the average (pink line) fell. This
is a danger sign, but nothing we can
measure in isolation.
Top scenario activated if the support at 2,880
were to break.
Good support at the current level of 55.5.
Still bullish. But this is a long term chart.
It could be a couple of years before target is
Bottoming hope in green. Needs a
breakout from 1.15.
Also a bottoming hope, but needs to
breakout 0.74 and escape the orange channel.
Good support at the current level
and as low as 23. After such a long fall, I would
expect a good bottom to confirm reversal of the
bear trend. That hasn't happened yet.
XOI reached monthly support
of around 880 before rebounding. This is one
indication that oil has reached a bottom. But it's
not conclusive alone.
Possible support. But nothing
Support in pink, but nothing to
suggest a bottom. Worse case scenario would be
support at 17,000. The market is very cheap now, see
the PE chart below. But it could still get
Failure of support on the monthly
chart and failure of support on the PE histogram.
low PE by historical standards suggests that the
market is ripe to rebound. But no sign of
Next support at around 2,400.
No strong support at the current
level. 2,100 is the best next support.
Good support at the current level.
Well-supported at the current level. But a
failure of support with a close at 1,200 would most
likely trigger a mighty fall to the 900 level.
The SET is still highly valued but not in the
danger zone. A fall to 900, as considered above, would
still give a valuation of around 15, provided earnings
don't rise significantly in the meantime.
The top is a bit disproportionate to the
trend. Support at 360 might well interrupt the suggested
fall to 250.
to target and nothing much to suggest that the index
won't reach it.
Nice bottoming scenario on good support gives
some hope for the market.
Also good support in orange.
New high and breakout from consolidation
pattern is the most bullish thing in the Thai market.
Bottom scenario in green would require a close
at around 35 or 34.9.
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