The US markets had a low volume up day yesterday. Since that was not very exciting I decided to check out the markets around the world. The charts speak for themselves so I’ll only add a few words about each.
The strongest economy seems to be in Brazil with price back above the 50% retrace of the 2002-2008 range.
The Hang Seng China Enterprise Index is also above the 50% price level.
The Toyko Nikkei Average shows very little strength since 1990.
The Australia ASX All Ords Composite has hit the 50% retrace level which could stop this run.
And finally, the London Financial Times Index has hit the 50/50 point of the 2003-2007 range. Since this point was hit from the bottom it leaves the index in a somewhat bearish posture.
Charts courtesy of Stockcharts.com
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Tags: Gann Angle Fan2 Comments
As ever, thanks for your foreign charts!
Rob – I’ll try to post them once a month – if I can remember.