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Danger signs in the US but Asia looking bullish
15th September: A few danger
signs in the US. Oil also looks weak. However, Asia is looking strong.
Hong Kong, Shanghai and Thailand are all looking bullish. In Thailand,
the banking sector is leading the way.
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