Dow and some major Asian Bourses

Dow dropped 115 point on Friday to close at 11934, resting on its lower support level. Once the lower trend line is broken, Dow is likely to move lower at a steeper gradient.


After reaching its low of 1146 in 2008, Indonesian market has gained more than 200% in the last 30 months as the best performed market.


Whereas Japanese Nikkei index is the worst performed major stock index in Asia.


Singapore STI index has been moving within a wedge. I expect the index to breakout on the downside and is likely to move lower at a higher speed.



Hong Kong Hang Seng index has moved lower and reached its longer term lower support line last Friday. I personally do not think that this support level can hold.

Australian currency might have performed very well due to its commodity based economy, however, its stock market performance is rather poor amongst the Asian Pacific bourses. It is possible that its is heading for a double tops formation.

Once Dow breaks its lower support level, I expect all the other world bourses are expected to break their respective lower support level and dive together with their big brother, the Dow.

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