Thursday, February 17, 2011

Where KOSPI, STI, HSI, Sensex, Taiex Heading?

Daryl Guppy wrote an article dated February 16 2011 titled “KOSPI shows Trend Failure”.

Below a summary of key points to note:

  1. Regional markets follow the KOSPI lead;

  2. KOSPI moved above 2007 high but unable to hold onto gains. This suggest other markets – Taiwan, Singapore, Hong Kong – may also have difficulty moving above 2007 high;

  3. This is a potential end of trend signal;

  4. KOSPI, Taiex, HSI, STI all show break of significant uptrend lines – this calls for greater level of caution;

  5. KOSPI minor support at 1900. Failure points to downside target near 1720;

  6. Expect KOSPI to lead the way and show how markets will recover from this sharp selloff.

I have also attached Straits Times Index Chart by Daryl from a prior article dated February 9 2011 – see where are the potential support lines (2980, 2700, 2600).

Dun try to catch the falling knives! When time is up, the market will find the "right" bottom!

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