Waves.global – The last leg

It will be metaphorical if we don’t specify, which last leg we are mentioning here. Global equity bottomed in Mar 09 and continued to rise throughout the year. There has been no multi month retracement across global equities till now. Unfortunately or fortunately, the more the market try to avoid a retracement, the weaker it gets. This holds true for the strongest or the weakest equity region. The way we see things as they head into 2010 is that global equity markets are heading into the last few weeks of upside after which they will fall for at least a few months. We will not be surprised if 38% retracement across the board targets are reached in 2010. This means 1,100 for IRTS, 55,000 levels for Brazil BVSP, 14,000 levels for Indian Sensex, 2,791 for SSEC China, 9,600 for DOW, 5,104 for DAX, 4,792 for FTSE, UK from current levels. We have enclosed potential upside targets and resistances.
Other observations enclosed in the latest WAVES.GLOBAL are the momentum non confirmations, 200 period retests and resistances, penultimate sideways corrective action and key levels. Enjoy the latest WAVES.GLOBAL
Enjoy the latest WAVES.GLOBAL
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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
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