World Indexes

Uptrend halted. Is it time to consolidate for the next up move or there will be another panic coming? The answer will be revealed in the next 1-2 weeks time.

World	Longterm	Midterm	Shorterm
S&P500	Down	Up	Neutral (-)
DJI	Down	Neutral	Neutral (-)
NasdaqComp	Down	Up	Neutral (-)
Nikkei 225	Down	Up	Up
Kospi	Up	Up	Neutral (-)
SSECI	Up	Up	Up
HSI	Neutral	Up	Up
TWII	Up	Up	Up
STI	Neutral	Up	Up
SENSEX	Neutral	Up	Up
AORD	Down	Up	Neutral
FTSE	Down	Up	Neutral (-)
DAX	Down	Up	Neutral (-)
Bovespa	Neutral	Up	Neutral (-)

Who will win the tussle?

Bear's arguments: CRE is getting worse. Continue tightening of consumer credit. Jobless number is still bad. Housing price is still dropping. Some major banks are insolvent.

Bull's arguments: Bad economic numbers are less bad. Governments around the world are pumping a massive amount of money.

I think that the key is the USD. The PRC could be buying up world commodities as a way to diversify from USD. We know that PRC is now the 5th largest gold holder in the world. They are also building up their emergency petroleum reserves. With so much money in their pocket, what will they be buying? Anyhow, I wonder what will happen when everyone starts to loose their confidence in the USD?