SSECI Daily ChartCorrection in Shanghai could be over and currently in a base building phase. I think that it will go up and down around the 3000 region for a while until the next move. There is a gap at 3030 that is waiting to be close.
HSI Weekly ChartHSI continues to move higher. The next resistance is around 23000.
S&P 500 Weekly ChartS&P 500 continues to move higher too. It could be at the top of end of a rising wedge formation. Will it be able to close its small gap at around 1100? If it can move higher, then 1100 (downtrend line) will be the point to watch.
All markets moved higher last week. Most of them broke their resistance area:
| World | Monthly | Weekly | Daily | Note |
| S&P500 | Up | Up | Up (+) | R=1.13k |
| DJI | Up | Up | Up (+) | R=9.8k. Daily bearish divergence |
| NasdaqComp | Up | Up | Up | R=2.18k |
| Nikkei 225 | Up | Up | Up (+) | Next R=11k |
| Kospi | Up | Up | Up | R=1.9k |
| SSECI | Up | Neutral | Neutral | R=3.5k. S=2.6k. Finding base. |
| HSI | Up | Up | Up (+) | R=23.5k, S=20k. |
| TWII | Up | Up | Up | R=7.4k. S=6.6k |
| STI | Up | Up | Up | R=2.7k. |
| JKSE | Up | Up | Up (+) | R=2.4k. S=2.1k |
| SENSEX | Up | Up | Up | R=17.6k |
| AORD | Up | Up | Up (+) | R=4.6k |
| NZX50 | Up | Up | Up | R=3.2k |
| FTSE | Up | Up | Up (+) | R=5.1k |
| DAX | Up | Up | Up (+) | R=6.15k |
| Bovespa | Up | Up | Up (+) | R=58k |
I still detect a significant number of bears. I think that this market will continue to move higher until all of the bears surrender.
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