Interesting charts December 28th 2016
Indonesia – bounced from the psychological 5000 area and the region of the trend mean. A sustained move below that level would be required to question potential for additional higher to lateral ranging.
Singapore – posted an upside key day reversal yesterday and followed through on the upside today to confirm at least near-term support in the region of the trend mean.
Malaysia has been ranging with a mild downward bias for three years but bounded again today from above the 16000 area.
Philippines rallied impressively over the last three sessions to challenge the six-month progression of lower rally highs. A sustained move above 7000 will be required to signal a return to demand dominance beyond the short term.
Topix 2nd Section Index further extends its uptrend to hit new all-time highs and a break in the short-term progression of higher reaction lows will be required to check demand dominance.
