S&P500 Chart (1,390)
The daily charts are looking good and trending upwards. For weekly charts, MACD has a positive cross over now at -35 and MACD Hist has just turned positive. The DMI (+ & -) needs to cross over first to see a more concrete uptrend and this is possible as the ADX has developed a stonger trend. Expect the index to have some profit taking latter this week if the index goes up further as the stochastic oscillators have reached 82.8 (normally it drops back when it touches 90-100) The index is expected to trade between 1,360 and 1,430.
KLSE CI (1,268)
The daily charts are generally positive although considered weak. The daily MACD is doing well while the daily RSI is low at 45 indicating it is still in an oversold position. The daily DMI (+ & -) has a positive cross over but the ADX is getting weaker. Weekly indicators are still weak. The Index needs to break above 1,277 and would be ideal to stay above 1,290 if uptrend is to be more meaningful.
HangSeng (24,197)
The daily charts are generally positive but the DMI (+ & -) and ADX seems to be getting weaker. No positive uptrend confirmation yet in the weekly charts. The Index needs to clear 24,700 and stay above 25,000 to move away from the downtrend channel created since Oct 2007. Immediate support is 22,700.
Nikkei 225 (13,476)
The daily charts are looking good and trending upwards. For weekly charts, MACD has just turned positive but DMI (+ & -) are far away from each other but the ADX is still strong indicating the strong trend is still intact. Needs to see them have a positive cross over to confirm uptrend. Resistance is seen as 14,100 while immediate support is 12,900.
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