October 3, 2014

Global markets

The UK index FTSE was trading at 6 month high early SEP and now has lost all gains  and is trading at 6 month low. Index is oversold on RSI charts so a pullback rally is in order.

The US market key index S&P500 recently broke its support at  1980 and is now trending down. Friday's bounce is from oversold conditions.

Shanghai index is trending up and trend will reverse on close below 2280.

NIKKEI is showing signs of reversal with a strong gap down opening on Friday. Note support at 15500.

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