US markets send another bearish signal


3rd March 2008: A turn on neckline and channel resistance for the S&P500 is another bearish indication for the US markets. The Hang Seng has a similar phenomenon. However, in the case of Hongkong, there is a bullish long term target outstanding, suggesting that a bear market in Hongkong might not be as severe as in the US. This is just a guess at this stage. I am mainly concerned with long term trends. These take time and patience to confirm.
Other parts of Asia still remain bullish: Thailand in particular looks strong. Malaysia and Indonesia are also still in a major bull trend.
Korea and Singapore, which are in the 'probably bearish but still undecided' camp, have not given any further bearish evidence. Perhaps this week.
gb
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