Stock: Where is the bottom for KLCI, HSI, SGX, Y, DOW........

DOW:

The short term new-hi new-lo indicator is still bullish for the short term. But rising wedges are appearing on the S&P and the Dow charts. These wedge patterns are accompanied by low volume. This is a bearish phenomenon. A breakout downside from the supports of these wedges would give a chance of retesting previous lows. If we get such a retesting of previous lows, there would be a chance for a good bottom signal. It would look something like this:
i. a second bottom at 1,200
ii. a rally from the bottom in, say, October
iii. volume accompanying the said rally in excess of 6 billion shares per day.


HSI

Testing support at 21,000, a very important support. If the support fails, the market is likely to enter a new bear phase. But the support is very good, as the long term log chart shows.

KLCI

930 here we come

SGX

Not much change in the last couple of weeks. The daily chart is retesting previous lows. But the weekly chart has made a new low. The ETF chart gives the appearance that the bear market is just beginning. But appearances often deceive in this game.