World Market

The current theme is USD, reflation and emerging markets. I think that as long as there is no panic in the Western markets, the domestic consumption of the emerging markets will fuel the next phase of world growth.

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	Up (+)
SSECI	Up	Up	Neutral (-)
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	Up (+)
Bovespa	Neutral	Up	Up (+)

Currently, the US markets are trying to built a base. As long as DJI is not under 8000, S&P 500 not under 850 and Nasdaq Composite not under 1600, the rest of the world market should continue to hold on or rally.

US is still the no. 1 consumer of the world and there are still deleveraging. Until the emerging markets consumer can replace them, we will have a lot up down movement.