By request of a couple of members on the other side of the pond, here's my take on the London FTSE 100, Sydney All Ordinaries & the S&P ASX 200 Composite Indices. Following the recent breakout above significant resistance to new highs, the $FTSE is now back-testing that level, now key support, from above. While this pullback to support could provide an objective long entry with a resumption of the uptrend to following, the charts appear to indicate that the recent breakout is likely to fail with more downside in the coming weeks or months. $FTSE daily Jan 30th [...]
Let's take a quick look at some of the major global stock markets from a longer-term perspective (10-year weekly charts). Starting with the S&P 500, with prices recently rolling off the top of the large broadening wedge pattern as well as the recent bearish cross on the weekly PPO, along with many other factors, it looks like the SPX is headed to at least the 1820 support level in the coming weeks to months. S&P 500 10-year weekly Sept 18th By nearly all accounts, it appears that the 29% bear market in the Tokyo Nikkei Index since the mid-2015 [...]
A look at the major non-U.S global stock indices in the following order: $AORD (Australia), $TSX (Canada), $BSENX (India), $NIKI (Japan), $SSEC (China), $FTSE (England), $HKHS (Hong Kong), $DAX (Germany), & $CAC (France). A separate video covering the outlook for the US equity markets is uploading to YouTube now & will be posted later today (or you can visit the RSOTC YouTube channel to view it shortly).
As a follow-up to Sunday's Global Equity Markets Overview video, two of the three of the countries that I had highlighted as setting up bullishly have since made clear breakouts of the patterns and/or resistance levels that were highlighted. $TSX (Toronto Stock Exchange) has broken out of the bull flag pattern that was highlighted in Sunday's video. One way for those of us 'yankees' to gain direct & diversified exposure to Canada is through EWC is the iShares MSCI Candadian Index Fund ETF. I also plan to scan for any attractive $TSX listed stocks this week, with any standouts to be [...]
An overview of global equity indices concluding with a brief overview of precious metals & commodities, as it appears the most constructive charts are from countries with a large exposure to commodities.
I am a big believer that charts speak louder than words (especially those spoken by the majority of the pundits in the financial media). With that being said, here's a quick view of most of the major financial equity markets around the world. Live, annotated versions of each of these charts, along with other global financial markets can be found on under the Live Charts section of the site. Click on the first chart to expand, then click anywhere on the right-hand margin of each chart to advance to the next expanded chart. On an admin note, I will [...]
There are a few thoughts that I wanted to add to last night's post in which the case was made that Australian stocks are likely to experience a bear market in the coming months. The most important point that I want to impress is that just because the $AORD looks "poised" for a bear market does not mean that a bear market in 2015 is certain. To use an example that most here in the U.S. are likely familiar with, just because the undefeated Kentucky Wildcats are "poised" to win the NCAA men's college basketball championship does not guarantee that they [...]