23 February 2009

Technical Analysis - February 23 2009

S&P500 (770, last week 827 or -6.9% w.o.w)
.
This will be the second week of hefty losses. The Daily MACD and MACD Histogram had a negative crossover 5 sessions ago and has thus joined the Daily Parabolic SAR, Guppy MMAs and DMIs (+ve and –ve) turning bearish. For the weekly readings, the MACD and MACD Histogram are still positive but the Parabolic SAR has just turned negative. The weekly ADX trend, DMIs (+ve and –ve) and Guppy MMAs are still weak. Support is around 700 and resistance at 820.
.

KLSE CI (890, last week 910 or -2.2% w.ow)
.
Despite the daily indicators MACD, Parabolic SAR, ADX trend and DMI (+ve and –ve) have all turned positive during last week, indicators such as MACD and DMI (+ve and –ve) are now slowly flashing negative although no crossover downwards yet.. The weekly charts MACD and Parabolic SAR continues to be positive but the weekly ADX trend, DMIs (+ve and –ve) and Guppy MMAs are still otherwise. The index is expected to trade between 860 and 910.
.
HangSeng (12,699, last week 13,555 or -6.3% w.o.w )
.
With a hugh drop during the week, the daily indicators like Parabolic SAR, MACD and MACD Histogram dips under water again. As of weeks ago, the DMI (+ve and -ve) and Guppy MMAs continue to be negative. The weekly charts are still positive, especially the MACD, MACD Histogram and Parabolic SAR but the weekly ADX trend, DMIs (+ve and –ve) and Guppy MMAs are still bearish . Support is seen at 12,000 and resistance at 13,200.
.
Nikkei 225 (7,416, last week 7,779 or -4.7% w.ow)

All the daily indicators like the Parabolic SAR, MACD, MACD Histogram, Guppy MMAs and DMIs (+ve and –ve) are bearish now. The weekly charts are still positive, especially the MACD, MACD Histogram. However, the Parabolic SAR, Guppy MMAs, ADX trend and DMI (+ve and –ve) are still weak. Support is seen at 7,000 and resistance at 8,000.

* Bloomberg: South Korea is prepared to support won, banks as market tumbles.

* Bloomberg: Asia agrees on USD120B pool of currency reserves as crisis worsens.

* BT: Macquarie:- Investors positive on Malaysia stocks. It picks Genting, AMMB, KNM, TMI and Tenaga.

* InvestorsBizDaily: Clinton urges China to keep buying US Treasurys.


4 comments:

Anonymous said...

Online Poker - promotions with free cash for start play options, for new shark and beginner - all possible $50 bankrolls.

Pokermaniac - Good Day

Kendra Bing said...

~~ $$$ dropping by ~~

Business Plan Writers said...

Nice work, thanks for such information, which will help beginners in future.

David Smith said...

Thank you for your post. This is excellent information. It is amazing and wonderful to visit your site.You have some quality information here that any reader would enjoy. I got useful information from this article.Thanks for this Information share market tips stock market tips