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Politics : Idea Of The Day
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To: IQBAL LATIF who wrote (18350)7/1/1998 12:36:00 AM
From: IQBAL LATIF  Read Replies (2) of 50167
 
Global indexes alert-
We are approaching simultaneously key levels on global indexes- I have seen that ability of global indexes to pass these hurdles have a major impact on direction of OECD markets.
HSI- The first resistance of 8550 has been breached the next level is 9638, we are right now at 8543, we should keep a close eye on what happens to HSI 8550 if this level is breached we need to be careful with our positions in ASEA.
Straits- We are at 1076 the resistance is at 1190.
Australia- Since I talked about Aus, we have moved up quite a bit we are right now at 2672 above the first resistance of 2612 the objective is 2702, in my opinion when so many of these languishing markets are taking out first level of resistances simultaneously. Whenever this happens I find global indexes overall have tendency to go higher.

Nikkie- The first two resistances have been taken out now after 15870 we will like 16400 with a objective of 17000, ofcourse 16200 remains a strong interim resistance.

France Germany and Italy are all heading towards new resistances alongwith DOWS 9100 level- I would like to keep an eye on CaCs 4248 Dax 5916 and Italys 22974, we are right now at 4248 5916 22827, if Europe fails to take out these resistances we will not see 9100 on DOW also.

This relationship with global indexes acquires greater importance as new possibilities of corporate profits will only come at the back of new global expanding opportunities.
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