Skip to main content

S&P/TSX Composite Index forecast for coming week.

This is the first time I am talking about Australian S&P/ TSX Composite Index. Long-term chart says that it is forming a big H&S pattern and coming future is going to say whether it is going to trigger or not.
Now I am not sure about the H&S pattern but it is forming medium-term bearish pattern. It looks to me that this week it has already triggered this bearish pattern and it can drop more. If this bearish pattern works out then S&P/ TSX Composite Index can go below 10500.
But for coming week, I have a feeling that we may see a reversal may be around 11500 level and technical indicators are supporting that. But even we get the short-term reversal it is due to drop more on its medium term bearish figure and that is in spite of being in over-sold zone.

NOTEPlease see the disclaimer of this blog.


Post a Comment

Popular posts from this blog

DAX forecast for coming week ended 15th March, 2013.

This week was very good for Dax, though it is getting resistance at 8100 range. Now it has a chance to test downside again. I think even if Dax tests lower levels, it has more chance to bounce back from around 7800 range and therefore it will again test upside.

On the other hand if it shows flat movements around 8000 range in initial days of the coming week then there is a chance that it may take a decisive call in later days. Considering the recent trends it has the chance to test higher levels may be around 8200 but that will be a very aggressive call after taking in to account the movement from last December. I will worry about the downside when Dax will be testing levels below 7600 ranges.
NOTE: Please see the disclaimer of this blog.

Fed’s rate hike Vs Sovereign rating up gradation

Financial market is very much worried about the rate hike in US, probably this is going to come in coming December. But I think that is not going to change much of the things. Even Fed hikes rate in December it will be not so much, because we are forgetting one thing that interest rate in US is around zero so even they hike rate by 0.25-50% basis points (at most) in this year that will not be enough cause for Dollars to change their locations around the world especially markets have already discounted this coming rate hike in US.

A new disaster is coming in EU banking sector, whom to blame, big Audit firms!

First I was thinking what should be the title of this posting? Will it be good if I write that big audit firms set the time for EU bank collapse! If someone is thinking that financial crisis is over then think twice because the coming EU banking crisis is no way less than 2008 financial crisis. The time bomb will explode at some point of time in future, the time has not yet set for it. In that tsunami, forget about the smaller if any major banks collapse then I will not be surprise.