Weekly Equity Technicals – halted corrections
THURSDAY
16 AUGUST 2012
USD INDEX Trend line recheck looks completed
S&P 500 1401/1417, must turn down from here
SWEDEN OMXS30 Last Fibo, 1088, still capping
NORWAY OBX Broke to a new cycle high
INDONESIA JKSE An August downturn still a favored outcome
INDIA SENSEX Still no signs of a peak
SOUTH AFRICA JTOPI Still struggling at high altitude
TURKEY XU100 Top line currently capping
MEXICO IPC Rechecking the neckline break
ICE BRENT CRUDE Buyers are still in the driver’s seat
MSCI GLOBAL Correction running late (part IV)
€STOXX50 Buyers on hold in the target range
UK FTSE 100 Capped by the 5868 resistance
GERMAN DAX Upper flag line continues to cap
NIKKEI 225 Correction almost at target levels
MSCI EM Rise still looks corrective
RATIO MSCI EM/GLOBAL Should turn down ahead of 0.9925/30
SHANGHAI A Back on track for new lows
TAIWAN TWII Ideal target for wave C achieved
HK HSCE Returning sellers
KOREA KS11 Homing in on the 1,982 target
RUSSIA IRTS Increasing headwinds (for bulls)
POLAND WIG Correction stretched to its limits
BRAZIL BVSP A sell signal within the target zone