Seattle Technical Advisors
Foreign Equities

12.23.09

Foreign Equities

EEM consolidating its Dec 17 drop.  Despite various buy signals, no sign of upward reversal.

The Nikkei has broken up the horizontal support resistance line previously mentioned.  Buy on dips.

12.22.09

Foreign Equities

Emerging Markets failed to participate with US markets yesterday.  EEM lost a nickel. 

Nikkei unable to break through resistance cited in yesterday's Market Update.  We're waiting and watching for an opportunity to short the index.

12.18.09

Foreign Equities

EEM fell along with US stocks yesterday.  BWI still in buy mode but it wouldn't have to move much to make a new low sending it into its sell mode.  Treat as if it were US equity for now.  Expect some support at 39.50.  Nikkei dropping as I type Thursday evening.

12.17.09

Foreign Equities

Nikkei: The Nikkei has moved back up to old support/resistance.  Negative divergences in de-trended oscillator as well as RSI (not shown)

12.16.09

Foreign Equities

EEM printed a shooting star candlestick yesterday which is normally a bearish sign.  BWI did flip into buy-mode yesterday, however without a trigger from RSI to buy, the mode switch means nothing. A buy signal could be triggered today with a move by 14-day RSI through 54.19.  Nikkei still digesting the big "meal" it had last week.

12.15.09

Foreign Equities

No comparable buy signal for EEM

Nikkei consolidating recent gains  No signal to alter long positions

12.11.09

Foreign Equities

EEM bounced today along with domestic markets.  Solidly on a sell CCM sell signal but still waiting for 3-day RSI to dip below 20.  The Nikkei has slid the last couple of days but CCM still on a buy signal. 

12.09.09

Foreign Equities

The Nikkei continued its 'growth spurt' last night but is down 105pts as I type this Tuesday evening.  EEM is definitely a short situation.  If long, get out.  50-day moving average at 40.29 (where it bounced last time) and better support at 37.50. 


12.08.09

Marginally more excitement in EEM yesterday than US indices (marginally).  3-day RSI still unable to show any real strength via a move above 80.  CCM still on a sell signal.  Time-wise, today a good place for a turn in direction.

12-4-09

Emerging Markets

EEM created a bearish engulfing candlestick yesterday, a negative, short-term sign.  EEM is still on a definite sell signal.  3-day RSI has been unable to break over 80 since Nov.11 which helps to confirm the lastest pop up was a rally in a bigger downtrend.

12-3-09

Nikkei

The Japanese market has been on fire with the dropping Yen acting as fuel.  BWI is in the sell mode but you wouldn't know it from these last few days.  As I type these words Wednesday night, the index is up another 300 points over what the chart below is showing.  I'm watching this one for a shorting opportunity.

11-30-09

Nikkei

The Japanese market dropped hard on Friday stopping at minor support near 9,100.  The Nikkei has now wiped out its entire post-November advance.  This, despite continued good economic news.  I see good support at 8,600 and near 7,400. 

MSCI Emerging Markets

The index tested its 50-day moving average on Friday and closed above it.  Not much support between Friday's low and 37-37.50.  BWI moved to buy mode but could easily flip back to sell mode prior to a buy being triggered by RSI. 3-day RSI still not confirming sell signal given on Nov 18.