Here is our monthly update on global indexes for our international investors.
$SPX – major buy signal is now confirmed, ending the major sell signal of Jan 2008.
$TSX – new major buy signal.
Australia also confirms a new major buy.
Brazil is on major buy also.
India is on buy signal.
France confirms a new major buy.
Germany also confirms a new buy.
London is on major buy signal.
Hong Kong is on a buy signal.
Tokyo is on sell signal.
Prices testing TL resistance.
Config is bearish which is long term negative.
Shanghai is on major buy signal.
This is a very difficult market for most investors.
Prices went parabolic beginning in late 2005 for two full years, then collapsed for one full year, and then spiked up for nine months. There has been no major pullback/correction/consolidation during this entire four year period of roller coaster ride. Therefore, it will be most constructive if this market can somehow go sideways for a few months.
Philippines is on a buy signal.
Taiwan’s TL resistance is relatively flat but MACD has turned positive.
All of the global indexes we watch are now back on major buy signals, except Japan. The Nikkei topped in 1990 and has been in a major bear market since.
Long term signals can last a few months to a few years and are not actionable on a daily basis. Investors still need to wait for set ups on the daily charts to begin accumulating positions, ideally when the cycles have bottomed, and most ideally when volatility has returned to bull market values.
Until then, caution is advised and risk must be managed.
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End of update