Good summary GK. Thanks for starting the thread. I had a busy weekend. Good man. I wrote my short cuts on Saturday but to busy to post on Sunday. My take on ASX is similar to GK's post. Mower's shortcuts.
ASX @ 5503 (+15) Had a dip early in the week but had a recovery and is now >EMA10. Market has been range trading for near 2 months. (5400ish to 5500ish) Heavy res at the 5500 to 5550 area. no clear direction. A quick scalp type trade possible.
FTSE @ 6810 (-55) On a gentle slide all week. Fell through EMA10 and still on EMA20. MACD crossed down and RSI on slide. 8 trading days ago reached post GFC high and then came back. Early shortcall. I will wait for more confirmation. Mainly because other markets are looking better. Seldom do MAJOR market move BIG against the others.
DAX @ 9770 ( +129) Had a good week. Back to post GFC high. Yes Flem a strong res. MACD on up, RSI on up (64)EMA lines on up as well. For the last few months it has been 3 steps forward and 2 steps back. If that continues it has another step forward to go. (that is what I mean about the FTSE).
DOW @ 16606 (+113) Chart is similar to DAX. Not quite at record high but close! (2 weeks ago) MACD is flat but RSI andEMA on rise. Again default on DOW is long. You can't keep it down with a brick. That is what I refer to about FTSE.
China50 @ 6700 (flat) don't let the flat trap you!!!!It is back to cut snake stuff!. Big daily fluctuations. 6600to 6800. One for the brave, ask GK.
Japan @ 14562 (+200) I do not always cover this one. A BIG mover for the week. Importantly it broke up out of a down channel!!! Near recent res but looking strong.
