It was significant that technical buy signals were generated simultaneously by key Asian and US indices on Friday - Nikkei, Hang Seng and Nasdaq - which suggests the beginnings of a positive global market momentum / trend change. Index buy signals will still need to be generated in other key markets to confirm a global market turnaround, but Friday's index buy signals are an encouraging sign. The "cluster of index signals" has been effective previously in identifying major global market turning points - e.g. index sell signals were generated in June/July 2015, followed by re-entry buy signals in September 2015. Most recently, commencing in early December 2015, technical sell signals were generated in rapid succession by the Dow Jones, S&P500, Nasdaq, Nikkei and Shanghai Composite.
Angela has 30 years experience in the technical analysis field. Angela joined QMG as a technical analyst in May 2014. Angela was the technical analyst at Bell Potter for 16 years, providing technical analysis coverage to the retail and wholesale...
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