General observation. UK, Europe, US markets are at or near record highs and Aust is around post GFC high. Can world markets keep breaking new ground with world affairs such as they are? Only a BIG optimist would think so. Many here think not! BUT my take below is according to the rule "Trade/call what you see not what you think" On IG 75% of open positions on DOW are short!
ASX200 @ 5389 (+16) Most indicators suggest long. Been above EMA10 all week except Friday night futures but finished at EMA10. HEAVY res at ~5400 may be to strong. If is on short watch for me. I would not open (re-open)a long at this stage.
FTSE @ 6664. (+61) EMA lines crossed up during week. MACD and RSI on rise. Heavy res at 6800+ is still a way off. Still a long for me. Just above middle of 6 month range.
Germany DAX @ 9637 (+64) Been on 3 week uptrend. at/near recent res. Both MACD and RSI just starting to drop, but still high.
DOW @ 16444 (+128) Green all week but red on Friday. Closed just below EMA10. Thursday it was at record high! Still technically in 3 week uptrend.
S&P 500 @ 1868. (flat) Similar to DOW, 4 green and 1 big red. Closed on EMA 20. Is the USA correction close?
China A50 @ 6724 (+52) Small trading range this week, again. Been at or above EMA10 all week. Gentle up trend still on. GK, good to see you out.
Japan @ 14868 (+115) Red Friday but been above EMA10 all week. 3 week up trend. It came back off recent res around 15200. As with others technically still in up trend but I would not open now.
On a personal note. As we know most markets sing from the same song sheet. My take and open position on FTSE is the ONLY one that looks a long. Most others may technically be a long call they look shaky. Because of this I will look closely at closing my FTSE on Monday morning. I will trade what I see.
