As you can see from the chart above that only three Indices have been trading above their WEEKLY 200 periods MA; the Sensex, the HangSeng and the Shanghai Composite!!! Infact the Shanghai Composite has retraced exactly from 38.2% fib of the all time highs and incidentally it has now also retraced to the 38.2%, drawn from the lows to Aug highs!!!
And from the chart below we see that it’s only NASDAQ that’s tryin2cling to its Weekly 200 periods MA!
Btw most of the indices are making new 2009 Highs!!!
No comments:
Post a Comment