Chart 1: DJIA's daily chart as at Apr 27, 2010 (Source: Stockcharts.com)
Chart 2: S&P500's daily chart as at Apr 27, 2010 (Source: Stockcharts.com)
Chart 3: Nasdaq's daily chart as at Apr 27, 2010 (Source: Stockcharts.com)
We shall note that the SSEC index has failed to recover from the bearish downside breakout of its triangle. A correction in the US markets (if it panned out), coupled with the ongoing turmoil in Europe and the bearish outlook in China, could deal a severe blow to the global equity markets, which look ripe for some correction after a long rally.
Chart 4: SSEC's daily chart as at Apr 27, 2010 (Source: Stockcharts.com)
4 comments:
So should we sell in May and get away?
Hi Voyager8,
It may well be a case of "Sell Before May & Go Away". Who knows? Investors & traders are only human. They will try their best to get ahead by being just a little bit earlier than the next guy. Soon or later, this market adage will lose its effect.
sell before worldcup coming too. .
Hi Ivan,
We may lose some punters to that 'market'. Without their presence, the market liquidity may drop a few notches.
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