Sunday, July 05, 2009

World Market

SSECI Weekly Chart

Broke out of uptrend channel. Weekly RSI is overbought, but history shows that it can stay overbought for a long time. The next resistance will be 3500.

HSI Weekly Chart

For 5 weeks cannot close above 19,000. May need to build a base at around 16,000 for another challenge.

S&P 500 Weekly Chart

Showing weakness. Still don't think that it will crash and make a new low. Anyhow, if it goes lower, it should scare the rest of the world markets. If it happens, it could be a good opportunity for those that have missed the Mar 2009 train.

The summary for the world markets:
World Longterm Midterm Shorterm
S&P500 Down Neutral (-) Neutral
DJI Down Neutral (-) Neutral
NasdaqComp Up (+) Up Neutral (-)
Nikkei 225 Up (+) Up Up
Kospi Up Up Up (+)
HSI Up Up Neutral (-)
TWII Up Up Up (+)
STI Up Up Up (+)
SENSEX Up Up Up (+)
AORD Down Up Neutral
NZX50 Down Neutral (-) Neutral
FTSE Down Neutral Down (-)
DAX Down Neutral Down (-)
Bovespa Up Up Neutral

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