Today interesting charts
Comment of the Day

January 24 2014

Commentary by David Fuller

Today interesting charts

Price action shows you most clearly when a market correction or recovery is commencing.

David Fuller's view

I have posted these daily and weekly charts as links rather than showing them in the copy because of the number involved.

The USA’s S&P 500 (weekly & daily) and also NDX 100 Indices (weekly & daily), Canada’s SPTSX (weekly & daily), Europe’s SX5E (weekly & daily), Germany’s DAX (weekly & daily), Spain’s IBEX (weekly & daily), all show significant downward dynamics today. Japan’s TSE2 (weekly & daily) had a lesser decline but that was before Wall Street’s move today and the Yen is stronger (shown inversely against the US Dollar (weekly & daily), so Japan is susceptible to selling pressure on Monday unless the BoJ moves quickly to weaken the Yen once again.  Closes above the recent highs are required to offset this temporarily bearish outlook.

India Mumbai Sensex Index (weekly & daily) is very likely to react from its highs now that the Rupee has weakened to more that R62 versus the US Dollar, shown inversely (weekly & daily).  China’s SHASHR (weekly & daily) is less influenced by Wall Street and could be a global outperformer, for a change, as many other stock markets experience corrections.     

Back to top

You need to be logged in to comment.

New members registration