CAN THE BULL SURVIVE?? IS THE MONTH OF OCTOBER A MONTH OF MARKET CORRECTION??
*October a Negative month?? Some experts told us to remain in the markets. Some experts told us that the month of October will not have a market correction. Stock markets have been rallying since early March 2009, are we at a market cycle of being at the peak now?? Or we can say that stock markets are now being overbought?? If the month of October were to rally, how far can the markets rally again?? Not pretty much I'm sure.
*I'm expecting for a market correction in the month of October in order for the stock markets to have a healthy rally next time.
*As we all know that ShangHai stock market have been into a market correction for two months. ShangHai is actually indicating to us that world markets will follow into a market correction too.
*As both the market leaders U.S and ShangHai stock markets are telling us a bearish story, world markets will not be able to rally till this two market leaders are moving.
TECHNICALLY IN WEEKLY CHART IS TELLING US A BEARISH STORY(MARKET CORRECTION)
*I'm looking at the worst case scenario for all the world stock indices by using Weekly Chart. By studying weekly chart we are able to tell how the markets will perform in the medium term. Therefore for an example ShangHai is now at its worst case scenario standing on its important support at EMA50days. Weekly EMA50days is also equivalent to Daily Chart EMA200days. Prices above Weekly EMA50days = Uptrend.....also prices above Daily EMA200days = Uptrend!
DJIA Weekly Chart(EMA50days)
*DJIA Weekly Chart showing bearish signs. Will DJIA enter into a market correction??
*If DJIA were to have a market correction, by looking at worst case scenario DJIA will drop till EMA50days support.
*DJIA Weekly MACD is having a rounding top with possibility of Deathly Cross.
*DJIA Weekly Stochastic is showing a Overbought signal.
ShangHai Weekly Chart(EMA50days)
*ShangHai have been having market correction since early August 2009 is now supporting at its Weekly EMA50days.
*ShangHai Weekly MACD is still having market correction. But can ShangHai form a round bottom and starts to rebound??
*ShangHai Weekly Stochastic is currently Oversold.
HangSeng Weekly Chart(EMA50days)
*HangSeng is currently at its Uptrend Line support. Once this uptrend line is violated, HangSeng may drop till its EMA50days Support.
*HAngSeng Weekly MACD is bearish as its forming rounding top with possibility of Deathly Cross.
*HangSeng Weekly Stochastic is currently Overbought.
StraitsTimes Weekly Chart(EMA50days)
*Straits Times this week breaks its Uptrend Line support. Will Straits Times drop till its EMA50days support??
*Straits Times Weekly MACD is having a rounding top with possible MACD Deathly Cross.
*Straits Times Weekly Stochastic is currently Overbought.
FBMKLCI Weekly Chart(EMA 50days)
*FBMKLCI is currently at its Uptrend Line Support. Once FBMKLCI violated its uptrend line at 1200points, FBMKLCI may drop further to its EMA50days support.
*FBMKLCI Weekly MACD is having a rounding top with possibility of MACD Deathly Cross.
*FBMKLCI Weekly Stochastic is currently Overbought.
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