World Markets

A sudden drop at the beginning of the week and slow craw to the upside, week on week, the daily indicators are neutral. The weekly and monthly indicators still point up:

World	Monthly	Weekly	Daily	Note
S&P500	Up	Up	Neutral (-)	R=1.13k
DJI	Up	Up	Neutral (-)	R=9.8k. Daily bearish divergence
NasdaqComp	Up	Up	Up	R=2.18k
Nikkei 225	Up	Up	Neutral (-)	Next R=11k
Kospi	Up	Up	Up	Bearish divergence.
SSECI	Up	Neutral	Neutral (+)	R=3.5k. S=2.6k. Correction.
HSI	Up	Up	Neutral	R=21k, S=19.5k. Correction
TWII	Up	Up	Neutral	R=7.4k. S=6.6k
STI	Up	Up	Up	R=2.7k.
JKSE	Up	Up	Neutral (-)	R=2.4k. S=2.1k
SENSEX	Up	Up	Up	R=16k
AORD	Up	Up	Neutral (-)	R=4.6k
NZX50	Up	Up	Up	R=3.2k
FTSE	Up	Up	Neutral (-)	R=5.1k
DAX	Up	Up	Neutral (-)	R=5.5k
Bovespa	Up	Up	Neutral (-)	R=58k

Gold and silver had a fantastic run last week. Can gold breaks above USD1000? Since the daily chart is already overbought, I expect a pullback first and then another assault within this week. This time, good chance of it succeeding and race to USD1050.

Oil and crude palm oil looks weak and most probably consolidate further. By the way, look out at the price of rough rice. It may rally up again. After sugar problem, we may have rice problem.

Commodity	Monthly	Weekly	Daily
Gold	Up	Up	Up
Crude Oil	Up	Up	Down (-)
Crude Palm Oil	Up	Neutral (-)	Down (-)
Rough Rice	Up (+)	Up	Up (+)