I’ve added a few extra annotations to some of the global stock indices in which links to the live charts were posted yesterday. I’ve also posted some those charts in an easy to view gallery format below. Simply click on the first chart to expand, then click anywhere on the right of the chart to advance to the next one (or click on the left of a chart to view the previous chart). Live links to each of these chart are available under the Live Charts page.
Since today’s earlier post mentioning the recent bearish price action in the European equity markets, I have updated the live charts with additional commentary and downside targets/support levels. Click to expand the first chart below & then click anywhere on the right side of each chart to advance to the next chart. Once opened, each chart can be zoomed further by using a mouse scroll wheel, touchpad, or by dragging the lower right-hand corner of each chart. These updated charts are also accessible via the Live Chart Links page.
This video covers the major global equity indices on various time frames. As this comprehensive video spans just over 30 minutes, the indices are covered the following order for those wishing to skip ahead to a particular index: $SPX (US), $TSX (Toronto), $FTSE (London), $CAC (Paris), $DAX (Frankfurt), $AORD (Sydney), $SENSEX (Bombay), $SSEC (Shanghai), $HKHS (Hong Kong), $NIKI (Tokyo).
Well, not exactly a comprehensive overview of the global markets as I’m about to leave town and pressed for time today but here are a few key indices with some notes and annotations. As I’ll be traveling over the weekend, I’ll try to follow up with some additional charts either Sunday evening or early next week.
Although it took over two hours of analysis and annotations to create these charts, with a few clicks of the mouse you should be able to travel around the world to view nearly all of the major global equity indexes from a technical perspective in under a minute. All of the indexes below are shown with the daily time frame chart first followed by the weekly time frame, except for the $HKHS, in which the weekly chart was substituted with the more significant monthly chart. Click on the first image to open, then click on the right-hand side of each chart to advance to the next one or left click to go back to previous chart(s). The following indices are shown in this order: $SPX (S&P 500), $TSX (Toronto), $BSE (Bombay), $SSEC (Shanghai), $HKHS (Hong Kong), $NIKI (Tokyo), ($DAX (Frankfurt), $CAC (Paris), and the $FTSE (London).
So far, the European Markets are playing out exactly as expected. These are the updated daily charts of the $FTSE & $DAX along with the previous two chart for reference (prices reflected as of Friday’s close). These patterns are about as clean as they come as these updated charts show, the $FTSE & $DAX have a clear pattern of stair-stepping higher in these wedge patterns. While both major indices are getting close to my first bounce targets, I do believe that those level will ultimately give way and open the door to additional downside, especially if/when the US markets begin to follow suit.
These are the updated daily time frame charts of the London FTSE 100 Index ($FTSE) and Frankfurt Dax Index ($DAX). Note: These screen shots were taken last night and both indexes have moved slightly lower since.