Analyst Reports 6 – Trying to Bottom?

By Paul on November 24th, 2008

In my last blogpost on Analyst Reports 5, I was contemplating whether the steep climb in the stock markets around the world was a bear rally.

In this post, I’d still haven’t reached that conclusion but reading from the charts, my thoughts were confirmed that the supports will be confirmed soon for some markets. For DJI, support was breached and downtrend is still underway. The following few days or a couple of weeks will see the asian markets test their supports in their triangle formations. As attached below, we can see that Hang Seng and STI are in that formation. Only China seemed to have ‘bottomed’ and the intermediate downward trend is broken.

Not that you should follow me (disclaimer!), i would be putting more of my eggs in the china market and at the same time, looking at entry points for the rest of the asian markets. I seriously doubt support will be breached. But in the event it does, there might really be another huge wave of selldown again. And i will go …. GOSH.

Here are some analyst reports for your enjoyment!

Straits Times Index

Shanghai Index

Hang Seng Index

Dow Jones Index

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