The S&P is just above the 20 year mean,
which is now around 6%, taken from ellipse (1996) to
PE is only slightly above the mean.
DJIA new high, but resistance
approaching in pink at around 19,000.
Also on the mean: note the compound annual
average growth over a 20 year period is only 5%.
No new high for the Nasdaq yet.
rates on long term support.
Monthly chart showing the turn on long term
support and resistance at around 1,250.
Oil has turned on resistance in green, topped
and failed the channel in orange. A fall below $40 would
not surprise. However, the long term prospect of a
reversal, as shown in green, still looks good.
Neckline support at 1,300 is important.
Resistance as high as 1,500.
Target of 22.
Good support and bottom potential if we see a
breakout from the pink channel resistance.
Very nice bottoming potential in
Bottomed on good support. This
looks very promising for the next few months. Target is
previous recent high.
Nice bottoming scenario if we
see a breakout
Still a downtrend in blue, then resistance at
Very good support on the green
Resistance at 100 mark.
Resistance in pink is a big
obstacle for emerging markets.
Nice bottom in green and breakout
descending channel. Target is not supported by
volume. Consider the pink channel instead.
Hong Kong is still
cheap and has been so for the past five years.
Bottom potential in
SET has a clear target of 1,600, the
previous recent high. Increasing turnover
supports the target.
Reaching the target in the chart above would
amount to a reversion to the 17-year mean.
Breakout in the banking sector supports the
bullish outlook for the market.
Finance is moving to target with a big
obstacle at 2,800. Turnover is not particularly
Communications has effectively reached its top
target and now, with the bullish trend overtaking the
Thai market, I would expect the sector to bottom.
However, we need a close above 180 and then, resistance
at 200, to be confident of a new bull trend.
Property is looking bullish. Recent turnover
has been impressive. Resistance at 288 needs to break
before the rally can continue.
Baht bottoming on good support in orange but
still trapped by resistance in pink. One of these forces
has to break soon.
Nice bottom in green suggest a new bullish
trend for the index, at least as far as 10,400.
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