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S&P500 has 2,400 hope
December: A rather
quiet month with nothing very exciting
to report. The US is looking bullish.
But the Dow is still encountering
resistance which could persist for a few
months. If it breaks out I would favour
the long term target for the S&P 500
and emerging markets are treading water.
Eurostoxx turned on a double resistance.
That was not surprising. I don't see
anything exciting happening in the next
month for Europe.
stocks are sitting on good support:
Taiwan, Indonesia, Philippines are all
well supported for the time being. India
and Korea are testing important
resistances. If they break we could
expect the start of a new bull market.
is ambiguous. Short term charts indicate
further downside. On the other hand,
long term charts show good support for
the index and sectors. Anything could
happen in this volatile market.