TECHNICALS - GLOBAL MARKETS – SIX MAJOR INDICES HAVE REACHED BUY SIGNAL TARGET LEVELS

Over the last few weeks select global stockmarket indices have progressively reached (previous) technical buy signal minimum upside target levels. Eight index buy signals had been previously generated, six of which have now reached target levels – S&P500, Dow Jones, Nasdaq, DAX, CAC and Shanghai Composite. The Nikkei and FTSE remain rated as technical buys. The Hang Seng has the potential to generate a buy signal. The (VIEW LINK) shows the previous Wire that highlighted that the global trend had turned positive, and illustrates how the cluster of index technical signals has been accurate in identifying major global turning points. This year both the mid-year sell off and the subsequent /current rally were flagged by the cluster of index technical signals generated. It is important to note that the major global index technicals remain positive given there is no sign of technical top formations emerging.