The powerful uptrend closed on high on all indexes. DOW and SP500 are the only indexes to take a new weekly closing high. However the intraday tops has not been taken yet. The trading all over the world is very thin and slow. But the chart look very strong for continued uptrend. However there are many resistance points to clear. The big trends, Month, Week and Day are all up and so are the hourly trends. I will continue to look for weaknesses in the up trends.
This blog is about how the world stock markets perform and which way they will take next.I have developed my own technical tools during 30 years to give the investor early warnings for coming big changes in the main trends and for the trader to take positions before the markets react. Click all charts.
18/08/2012
DOW, SP500, DAX and FTSE weekly chart 2007 - Aug 17, 2012. In that order from above
The powerful uptrend closed on high on all indexes. DOW and SP500 are the only indexes to take a new weekly closing high. However the intraday tops has not been taken yet. The trading all over the world is very thin and slow. But the chart look very strong for continued uptrend. However there are many resistance points to clear. The big trends, Month, Week and Day are all up and so are the hourly trends. I will continue to look for weaknesses in the up trends.
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