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20-02-2012, 04:23 PM
(This post was last modified: 20-02-2012, 04:23 PM by Behappyalways.)
Nasdaq breakout could herald long term rally
20th February: In the US, the Dow and the Nasdaq are holding well above support. The Nasdaq has made a new decade-high. A rally to 3,200 on the weekly chart looks likely. A huge double bottom gives a chance of a sustained long term rally to the 4,000 region. The S&P 500 is still trapped under strong resistance.
In the EFA zone Japan is rallying impressively. The Nikkei has made a clear bottom with good volume. Emerging market etf, EEM, is a bit lacklustre. But Asian markets are strong although Thailand is facing very strong resistance at 1,150.
http://www.asiachart.com/malaysiasing.html
20th February: Now testing resistance at 21,500. Lots of stocks bottoming. The market has clearly reversed and is now in a clear bull trend.
http://www.asiachart.com/hkchina.html
http://www.asiachart.com/us.html
20th February: In the US, the Dow and the Nasdaq are holding well above support. The Nasdaq has made a new decade-high. A rally to 3,200 on the weekly chart looks likely. A huge double bottom gives a chance of a sustained long term rally to the 4,000 region. The S&P 500 is still trapped under strong resistance.
In the EFA zone Japan is rallying impressively. The Nikkei has made a clear bottom with good volume. Emerging market etf, EEM, is a bit lacklustre. But Asian markets are strong although Thailand is facing very strong resistance at 1,150.
http://www.asiachart.com/malaysiasing.html
20th February: Now testing resistance at 21,500. Lots of stocks bottoming. The market has clearly reversed and is now in a clear bull trend.
http://www.asiachart.com/hkchina.html
http://www.asiachart.com/us.html
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