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Nasdaq new high, Europe rebounds, Hong Kong still bullish, Thailand undecided


20th July
: Highlights of last week:
  • The Nasdaq has made a new high. S&P still lagging.
  • Gold has made a new recent low and is likely to trend lower to around 1,100, at least.
  • Europe made a nice bullish turn last week after turning on a strong support.  The Euro still has broken a resistance that it needs to break before bottoming.
  • Hong Kong closed on neckline support. The outlook is still bullish despite all of the volatility.
  • Thailand: No change to the SET. Banking and communications are still bullish, as is the commerce sector. But property and finance are dangerous. The MAI index has clearly topped and looks like it will fall around 30%, at least, in the next few months.