S&P
500 approaching target of long term bottom. Note the
channel in pink, which has held with one aberration.
Note also that volume has not been increasing.
Resistance is somewhere around 2,500 to 2,700, depending
on time. See the next chart for another perspective.
The
S&P is now above the 20-year mean. Resistance is
at 3,000 or thereabouts, depending on time. Note that
there is very little predictive value in this chart.
We have seen the index rally to next resistance and
beyond, in 1996, after breaking the mean and we have
seen the mean act as support for four or five years
before hitting resistance in 2007. We have also seen
the mean fail as a support in 2014. So breakout is not
persuasive of anything.
Dow
rallied to bottom target in the orange channel. Note the
surge of volume since November. Resistance nearby at
21,000.
25-year
chart on a log scale. Note that the average annual
compound growth, at 7%, is around the same as that of
the S&P500. Resistance in green is at around 6,000.
Oil
has bottomed persuasively. The orange channel is quite
well defined and shows resistance at around $57 per
barrel.
The
long term trend is up, at around 9% per year, which is
2% better than the S&P500. But the trend since 2011
is down (pink channel). Fair support at the current
level. But best support would be at around 1,000.
Silver
is facing resistance at around 20 - 21. Support at
around 16.
Rising
trend for seven years. Nice little bottom in green on
orange support. Double resistance at 3,500, or just
under.
Bearish
channel in black is quite well defined, as is the
bearish channel in blue with resistance at around 1.14.
Log target of 0.9 looks a bit dire, and with many
supports on the way down (1.03, 1, 0.97) the target is
of little value.
Nice bottom on orange support is persuasive of
a rally to 30,000 either this year or next.
Rising channel in
pink since 2010 defines the current
long term trend. Rising turnover supports
the bullish scenario. Strong
resistance in green up until the high
of 2012. Breakout would give a target
of 2,000. Volume supports the
scenario. But we need to wait for a
breakout.
SET Finance heading for
target of 3,900. But there is strong, double resistance at
the current level.
Agribusiness has had a nice
pullback and is well supported. A turn at this level would
be bullish.
Baht is well supported. Breakout from pink
resistance is marginal but gives cause for hope.
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