Friday, January 31, 2014
Happy Chinese New Year 2014!
To my Chinese readers, I wish you a very Happy New Year of the Horse, good health, and much prosperity for 2014!
Monday, January 27, 2014
Emerging Markets About to Implode?
Each candle on this chart of EEM represents 3 days...the current candle closed today. You can see the very high volumes that have occurred over these 3 days.
My 2 cents' worth tells me that a break and hold below 37.50 could send EEM into a new short-term downtrend, in alignment with its longer-term downtrend, and a break and hold below 33.00 may see an accelerated rate of selling...perhaps even panic.
My 2 cents' worth tells me that a break and hold below 37.50 could send EEM into a new short-term downtrend, in alignment with its longer-term downtrend, and a break and hold below 33.00 may see an accelerated rate of selling...perhaps even panic.
Triple Fear
The following 3 Weekly ratio charts show that the SPX, RUT and NDX have weakened in comparison with their respective Fear indices. Price has now reached a major confluence level on all 3 at the bottom of a rising channel (from the 2011 lows) and a 38.2% Fibonacci level (taken from the 2009 lows).
A failure of the SPX, RUT & NDX to hold and rally once more at these near-term major support levels could send them into a much larger correction...ones to watch over the coming days/weeks to see if the ratio of fear begins to accelerate.
A failure of the SPX, RUT & NDX to hold and rally once more at these near-term major support levels could send them into a much larger correction...ones to watch over the coming days/weeks to see if the ratio of fear begins to accelerate.
China's Shanghai Index and AUD/CAD
I last wrote about China's Shanghai Index on July 11, 2013. In that post, I mentioned the importance of price holding above 2000 and reaching and holding above 2200 and 2300, respectively.
As can be seen on the 3-Year Weekly chart below, price almost reached the 2300 level, but failed to hold and breached the 2000 level last week. We may see price fluctuate in between 2000 and 2300 until a solid break and hold is made one way or the other for awhile. Furthermore, we'll need to see the RSI break and hold above 50 and the MACD cross over and hold above the zero level to support a break to the upside. Until that occurs, this index is, basically, trendless and traders/investors are non-committal.
Additionally, as I mentioned in that post, one gauge of China's strength going forward lies in the AUD/CAD forex pair.
As can be shown on the following 3-Year Daily chart, price did breach the 93.00 level, but bounced and is now caught up in between the 50 and 200 smas. Should we see a clear break and hold above the 200 sma and the 0.9900 level (but a more-convincing 1.00 level), and if the RSI can regain and hold above the 50 level, we may see the Shanghai Index follow suit...one to watch if you're trading the Shanghai Index.
.png)
As can be seen on the 3-Year Weekly chart below, price almost reached the 2300 level, but failed to hold and breached the 2000 level last week. We may see price fluctuate in between 2000 and 2300 until a solid break and hold is made one way or the other for awhile. Furthermore, we'll need to see the RSI break and hold above 50 and the MACD cross over and hold above the zero level to support a break to the upside. Until that occurs, this index is, basically, trendless and traders/investors are non-committal.
Additionally, as I mentioned in that post, one gauge of China's strength going forward lies in the AUD/CAD forex pair.
As can be shown on the following 3-Year Daily chart, price did breach the 93.00 level, but bounced and is now caught up in between the 50 and 200 smas. Should we see a clear break and hold above the 200 sma and the 0.9900 level (but a more-convincing 1.00 level), and if the RSI can regain and hold above the 50 level, we may see the Shanghai Index follow suit...one to watch if you're trading the Shanghai Index.
.png)
Thursday, January 02, 2014
2013 World Market Wrap-Up
Happy New Year 2014!
My Market Wrap-Up for 2012 can be found here.
Although I stopped trading in July of 2013, I was curious to see how the year ended and thought I'd share the results of my review.
The following graphs and charts show the gains and losses made in a number of world markets for 2013. They will be shown without individual comment, as you can see at a glance where the outliers are (which ones made the most losses or gains) and where support and resistance are.
My Market Wrap-Up for 2012 can be found here.
Although I stopped trading in July of 2013, I was curious to see how the year ended and thought I'd share the results of my review.
The following graphs and charts show the gains and losses made in a number of world markets for 2013. They will be shown without individual comment, as you can see at a glance where the outliers are (which ones made the most losses or gains) and where support and resistance are.
Wednesday, January 01, 2014
Happy New Year 2014!
To those who still visit my site, I wish you all a very prosperous and Happy New Year...stay safe...be healthy...be happy. :-)
