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Not days, but seconds. This week I am providing a quick overview of world markets. It may take you a little more than 80-seconds to read, but not much!
Last week I discussed the prospect of the Australian market softening. This has not yet come to pass but that is not to say it won’t happen in the weeks ahead. It is the weak oscillator that is holding me back:
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The DOW also has a very weak oscillator and I expect softness in the coming weeks. Forget the ‘fiscal cliff’ and all that – just look at the ‘technicals’.
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The S&P is co-incident:
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The FTSE gives us no clues. It is going nowhere and also has a weak oscillator:
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The DAX is a little more optimistic. A very similar picture to the XAO but it also has a weak oscillator:
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The Nikkei also engenders some optimism and for good reason, as its oscillator is in fair shape:
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As does the Hang Sang:
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And that, my friends, is my snap shot of the global picture. More detailed sector analysis and a walk through the top 300 Australian stocks has shown me nothing to entice me into the markets right now.
I will studiously continue my daily analysis. The opportunities will come!
Enjoy the ride
Tom Scollon |