Week 43 Global Markets Trending and Performance
Here is the trending heat map this week.
Australia is now trending short-term bullish.
Canada is trending short-term bullish. The price also crossed over the 50-day moving average.
Germany price crossed over its 50-day moving average. It continues to trend short-term bullish as well.
Hong Kong continues to trend perfectly bearish. It cannot catch a break. It looks so bad now that it could actually be good. But I am not prepared to catch a falling knife.
Japan price crossed over its 20-day moving average.
Malaysia has turned short-term bullish.
France price crossed over its 50-day moving average. It continues to trend short-term bullish as well.
Singapore price crossed over its 10-day and 20-day moving averages.
Taiwan no change - price remains over its 10-day moving average.
Germany price crossed over its 50-day moving average. It continues to trend short-term bullish as well.
Mexico had a big week, and the price is now also over its 200-day moving average.
South Korea remains short-term bullish.
Brazil price fell hard. The trending looks bad now.
Eurozone price crossed over its 50-day moving average. It continues to trend short-term bullish as well.
China continues to remain perfectly bearish.
India turned short-term bullish. The price also crossed over its 50-day moving average.
Looking at the week-over-week returns.
And now the returns over different periods.
Now let’s do a deeper analysis on a couple:
Mexico EWW: The price has broken well above the line touching the last several highs. The price has also broken through 2 resistance levels. There are 2 more resistance levels very close. The price rise is steep but that is the nature of this market. I will watch this closely and buy upside calls under either of the 2 conditions: 1) price breaks out above the last resistance level at 51.57 or price tracks back to the support at 48.45.
India INDA: I was tempted to draw lines but realized that it would be futile. Although India is trending well, the price needs to go over a couple of more resistance levels above it for me to get more interested in it. Until then it is a bigger risk than I want to take at this time.
I looked quickly at the Eurozone, Germany and the UK. All are trending well but not good enough for me to put on trades at this time.