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5th April: US indexes still
stuck on resistance. Nothing exciting in Europe or emerging markets. Possible
bottom in Hong Kong needs more volume. Thailand making some bullish noises.
Last full update
S&P500 has 2,400 hope
31st March: It's
been a few months since I've updated this site (other than weekly updates)
so let's go through changes market by market:
US: S&P 500 has clearly broken
major long term resistances but is now facing its 60-year mean on the log
chart which could pose a significant resistance. The Nasdaq is facing a
resistance on the long term log chart. So this is a possible topping point.
No sign of topping yet. But something to watch out for.
Europe: EFA is looking decidedly
bullish. Eurostoxx is less so, but still encouraging. EFA contains a bit
of Japan, so that might explain the lead on Eurostoxx.
Japan: Bullish consolidation
on good volume with good long term scenario if we see a rally above 18,000.
Emerging markets: the ETF, EEM
is still drifting rather aimlessly. A few Asian markets are more interesting.
Hong Kong: nothing exciting,
well supported, some weakness in the banking sector.
China: Still in a long term bear
trend but well supported.
Philippines: in danger of topping,
but still bullish. Currency is bearish.
India: Nice, bullish, breakout
with the prospect of a new bull trend.
Taiwan: Bullish consolidation
Malaysia: Nice, gentle, long
term bullish trend.
Singapore: Dithering in a range.
Indonesia: Consolidating. Mildly
Thailand: Still ambiguous in
the medium term but with clear bearish signals in the form of the communications
sector and currency.
Commodities: nothing exciting;
gold, silver, oil all moving in boring ranges. No sign of bottoming yet