29th June: A time of ambiguity again
as markets dithered on resistance or rallied on weak volume. It's tempting
to think that the current rally has gone far enough for the time being.
But there is still a lot of strength in global markets. Hongkong is a good
case in point: the recent falls in that market merely represent pullbacks
to necklines of good bottoms. If the market breaks out from recent highs,
we can expect the bull trend to continue. The same can be said for US markets
where the S&P500 is struggling on strong resistance. But if it breaks
the resistance, we can expect the bull to continue unabated. A time to
wait and see.
All numbers are approximate; arithmetic
targets for falls are less likely than log targets; short and medium term
targets are not included in this table; refer to country pages for further
details
