Sunday, November 01, 2009

World Weekly Summary

SSECI Daily Chart

Looking at Shanghai SSECI daily chart, it looks like it is still not a firm ground for a rally. Look for downside support at 2850 +/- 10.

S&P 500 Weekly Chart

S&P 500 sell off just under the downtrend line. This is expected as no securities can break a downtrend line in is 1st challenge. No daily sell signal yet. So, best to wait for more clearer signal.

For the rest of the world, the summary is given below:
World Monthly Weekly Daily Note
S&P500 Up Up Neutral R=1.12k, S=1.01k
DJI Up Up Neutral (-) R=10.1k.
NasdaqComp Up Up Neutral (-) R=2.18k
Nikkei 225 Up Neutral (-) Down (-) Next R=11k
Kospi Up Neutral (-) Down (-) R=1.9k.
SSECI Up Up Neutral (-) R=3.5k. S=2.6k. Finding base.
HSI Up Up Neutral (-) R=23.5k, S=20k.
TWII Up Up Neutral R=7.9k. S=7k
STI Up Up Neutral (-) R=2.7k. S-2.52k
JKSE Up Neutral (-) Neutral (-) R=2.5k. S=2.3k
SENSEX Up Neutral (-) Neutral R=17.6k
AORD Up Up Neutral (-) R=4.9k
NZX50 Up Up Up R=3.2k
FTSE Up Up Neutral (-) R=5.4k
DAX Up Neutral (-) Neutral R=6.15k
RTSI Up Up Neutral (-) R=1.5k
Bovespa Up Up Neutral R=66k

We can see that the majority of the markets have weakened some more. Hopefully the correction is not severe.

My strategy is to cut off positions that was entered at the wrong time and keep the winners.

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