WAVES.GLOBAL – SUB ZERO ROC

DOW CYCLES continue to non confirm and are near key neckline.
After making a large open gap, Indian SENSEX seems to be completing a five legged ending diagonal structure. This is a larger reversal pattern and suggests a crash like situation ahead. NIKKEI momentum continue to witness divergence suggesting exhaustion.
IRTS has a SELL ON ROC as the indicator moves sub zero. ROC is a non banded momentum indicator, which oscillates around the zero line. Conventionally above zero levels on ROC is a BUY signal and sub zero are SELL signals. We have illustrated a historical case on ROC for IRTS. The indicator captured most of the large trends.
CAC and FTSE cycles also continue to point lower. Overall the global indices continue to remain weak. It’s too early for us to look for a sustained upside. We remain negative on global equity indices.
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ORPHEUS GLOBAL RESEARCH
WAVES.GLOBAL is a perspective product published on Monday. The report highlights top GLOBAL indices and emerging market indices viz. Dow Jones Industrial (.DJI), S&P 500 (.GSPC), German DAX (.GDAXI), Russian IRTS (.IRTS), Shanghai Composite (.SSEC), Nikkei 225 (.N225), Brazil BOVESPA (.BVSP), Indian Sensex (.BSESN). The product highlights Primary (Multi Month) and Intermediate (Multi Week) price trends. The report illustrates key price levels, price targets, price projections and time turn windows. The product uses Elliott waves, traditional technical analysis tools, sentiment indicators and other alternative research tools like INTERMARKET to spot outperformers and market trends.
REUTERS RICS: .BVSP, .IRTS, .FCHI, .GDAXI, .GSPC, .DJI, .N225, .SSEC, .BSESN
ORPHEUS RESEARCH AT REUTERS – UNITED KINGDOM
ORPHEUS RESEARCH AT REUTERS – USA