Sunday, August 09, 2009

World Market

S&P 500 Weekly Chart

Looking at the S&P 500 weekly chart, the next major resistance is at 1100 to 1150. Will it continue to blast up or take a move with nerve wracking zigzag path?

Shanghai, HSI, TWII and Sensex may have hit a top. If they plan to go up, then most probably after a consolidation phase. Currently, it seems that it is the Western market's time to play catch up.

World Monthly Weekly Daily Note
S&P500 Up Up Up R=1.15k
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 R=21k, S=19k
TWII Up Up Up Toppish
STI Up Up Up R=2.65k. Correction.
JKSE Up Up Up At R=2.35k, overbought
SENSEX Up Up Up Next R=17.5k
AORD Up Up Up Downtrend broken. R=4.6k
NZX50 Up Up Up R=3.2k
FTSE Up Up Up R=5.1k
DAX Up Up Up R=5.5k
Bovespa Up Up Up R=55.8k

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