Overlook for FTSE, DAX, STI, Hang Seng, Nikkei, Dow Jones

FTSE – LONDON Financial Times 

FTSE is currently trading side-way between the range of 6650 and 6800. What I can see here from the candlestick is ACCUMULATION. It is testing resistance at 6800. It needs to gain strength before it can commence further on the uptrend. Scalper can sell at 6800 and buy at 6650 for day trading. There should not be any major correction coming instead you can expect a less than 5% retracement from the current price. We should see it breakout from 6800 soon.

DAX – GermanDAX Composite

DAX is a better market to trade than FTSE now. It is simply more bullish the doji shows that there is a fight between the bull and bear. The outcome is that the bull has the last win as it closed on the higher end of the wick. This shows that the low it closed the day before ( red candle) has been absorbed with the doji. Seems to be there are some secret buying behind. Buy if DAX break above 9980 range. Once broken that high we should see the uptrend resume.

STI – Straits Time Index

Well.. This Chart is showing consolidation side-way between 3280 and 3360. This is a bigger range than FTSE. It is simply more volatile than FTSE. Swing-trader has to be very caution on STI. If in any chance it reached 3280. It will be a good time to load some equities and hold it breakout from 3360. Accumulation in the progress. 

HSCEI – Hang Seng Index

HSI is the leader for Asia market. Although each individual market has its own movements but it still follows a little on the movement of the HSI. We can see that currently trading at the 200SMA. It is moving side-way range from 22,750 to 24,250. Swing traders can place the stop below 22,700. Accumulation in progress.

NKY – Tokyo Nikkei Average

In terms of Asia Market, I will say that Nikk is more bullish. I can see that there are more upside to this market. The recent morning star candlestick is probably due to SATO making speech. Thus Traders decided to secure the profit. Looking at the Marketwatch at 11.34am, 04Dec2014, I can confirm that the mark down of the market is for Smart Money to buy in more stocks at the current level. We should see it break out the 17,880 high. There should be good news coming from the speech.

INDU – Dow Jones Industrial Average

Dow Jones is the now very Bullish if to make any comparison with any other market in US. I attached the 2nd diagram for your viewing. You can see that the only market that move from IMPROVING to LEADING is only Dow Jones. Currently the market is trading side way from 17,600 to 17,920. This movement is basically accumulation. There is the down side pressure is very limited. There is not much down bar. Most of the bars ends with white bar and Doji. The volume is healthy and not extremely high. Thus there is no indication of any Smart Money offloading their holding. The upside should be coming in no time as “SANTA CLAUS is coming to town”. He has gifts for children who take part in this rally. Do not miss this rally.