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Sunday, August 02, 2009

World Market

Major markets keep pushing to the upside. Based on daily chart, it is overbought. However, based on weekly chart, it seems that it can go some more. When everything is so bullish, it is only natural to be on guard on any possible sharp pullback like the one in Shanghai last week.

World Monthly Weekly Daily Note
S&P500 Up (+) Up Up R=1k
DJI Up (+) Up Up R=9.8k
NasdaqComp Up Up Up At R=1.95k-2k
Nikkei 225 Up Up Up Next R=11k
Kospi Up Up Up Next R=1.6k
SSECI Up Up Up Next R=3.8k.
HSI Up Up Up Next R=21k
TWII Up Up Up Toppish
STI Up Up Up At R=2.65k. Overbought
JKSE Up Up Up Next R=2.35k
SENSEX Up Up Up Next R=17.5k
AORD Up (+) Up Up Brokeout downtrend?
NZX50 Up (+) Up Up R=3.05k
FTSE Up (+) Up Up R=5.1k
DAX Up (+) Up Up (+) R=5.5k
Bovespa Up Up Up More upside

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