S&P500 Chart (1,399)
The daily charts are looking good and trending upwards. For weekly charts, MACD has a positive cross over now at -25 and MACD Hist is positive. The DMI (+ & -) needs to hook up first to see a more concrete uptrend but the ADX seems to weakens a little (ie from 29 to 27). The index is expected to trade between 1,380 and 1,430.
KLSE CI (1,288)
The daily charts are generally positive and has improved further. The daily MACD is doing well while the daily RSI is low at 54 indicating the market is not expensive. The daily DMI (+ & -) has a positive hook up but the ADX is getting weaker(ie 21). Weekly indicators are still weak although improved. The Index needs to stay above 1,290 if uptrend is to be more meaningful. The index is expected to trade between 1,260 and 1,314.
HangSeng (25,517)
The daily charts are generally positive. The weekly DMI (+ & -) has just touched each other for a hook up and the ADX is at 23 (ie ranging trend).Any ADX from 25-40 will denote a strong trend. The MACD has just crossed positively over at -400 and MACD Hist has also just turned positive. However, there may be profit taking as the stochastic oscillators is now at 95. Index has cleared 24,700 and stayed above 25,000 to move away from the downtrend channel created since Oct 2007. Immediate support is 24,300 and resistance at 26,000.
Nikkei 225 (13,864)
The daily charts are looking good and trending upwards. For weekly charts, MACD has just turned positive at -600 and the MACD Hist has also turned positive. The DMI (+ & -) are still far away from each other but is improving while the ADX is still strong (ie 36) indicating the strong trend is still intact. The good news is it managed to crept out of the down trend channel created since Oct 2007. Needs to see them have a positive hook up to confirm a strong uptrend. Resistance is seen as 14,100 while immediate support is 13,450 and 12,900.
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