US markets and oil have fallen to good support
- but no persuasive bottoms yet

1st February: US: The New York Composite index has reached top target. But I would like to see a bottom form on support before considering that the sell-off has concluded. S&P and Dow both have big top scenarios. But these are just scenarios while supports hold.
Europe and Japan: supported
Euro and Australian dollar: possible bottoming
Oil: WTI reached good support at 27. XOI, the Amex Oil Index, reached support on the 25-year monthly chart and rebounded. There is no sign of a bottom yet for oil. But there is good support, which is the occasion for a bottom.
China: support broken. 2,400 is the next support on the Shanghai Composite.
Hang Seng: support broken. Next good support at around 17,000. But the market is very cheap. Not sure what to think about Hong Kong.
India: BSE well supported.
Singapore: no strong support at the current level
Thailand: Good support at the current level, but valuation is high and the Communications Sector still looks like it has further to fall.

Charts current to 29th January.

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