Asian Stocks Set To Swoon?
Posted on 14. Jun, 2010 by Global in Uncategorized
Elliott Wave Global Market Service – Global Forecast Report (Asian Markets April 2010)
Taking a closer look at the the tiger economies and their stock indexes it would appear likely that there are plenty of reasons why most Asian equity markets might be close to completing major topping patterns right now. In our view it is looking increasingly likely the Asian region is set for pretty significant swoon in the price of their stock indexes at any time now.
Using a combination of Elliott Wave Theory and technical analysis most of the evidence is indicating a range of bearish topping chart patterns forming now.
In addition to the elevated levels of global bullish sentiment according to trade-futures~A highly bullish atmosphere prevails nows as is indicated by the trade-futures.com daily sentiment index.com which currently sits at 92% in the leading US markets on their daily sentiment index, there are some very long term bearish daily MACD divergences that have continued to develop over the entire rally off the March lows of 2009 that are still yet to resolve.
There are now forming a confluence of factors that are pointing a significant top forming with a great deal of downside potential if these patterns play out as we expect – in most cases declines look set exceed 60% of current price levels in most markets. Perhaps of most relevence now is the clear elliott wave patterns that are either complete or close to in our view.
Rather than go through the individual detail of each market I have decided to attach to this article a copy the Asian Markets Section of the Global Market Forecast that we produce on a monthly basis at www.elliottwavegms.com – this issue was posted on the 23rd of April.
If you follow the markets and use either Elliott Wave or technical analysis for the basis of your trading and you would like to receive daily video reports covering the short term elliott wave and technical analysis of the major US markets, Gold Trust, Oil Holders and USD Bullish then please visit our service at www.eliottwavegms.com. Of course, we also cover all major global markets, currencies and commodities in our monthly forecast report in addition to our portfolio stock service by way of weekly video update.
In this Global Monthly Forecast video report for the Asian markets we cover Japan, Singapore, Australia, China, Korea, Hong Kong and Indian indexes.
For more detailed analysis and for more market coverage please visit www.elliottwavegms.com.Our service provides daily weekly and monthly market perspectives on most major global markets along with a portfolio stock service all for $29 per month.
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