Bespoke's International Snapshot (11/20/8)

Without further ado, below we highlight the absolute atrocities that are global equity market indices.  The one thing to make note of in these charts is whether the country has broken below its prior bear market lows.  Ones that haven't still have a chance to try and form new uptrends, while ones that have face a bottomless pit given the amount of fear that is out there.

Brazil, China, Hong Kong, Germany, India, Italy, Japan, the UK, Mexico, Sweden, Russia, South Korea, and Spain remain above their lows, while Australia, Canada, France, Taiwan, Singapore, South Africa, and Switzerland have broken their lows.

click to enlarge

 

 

 

 

Comments

[RobW25:]

I believe that some of the Asian markets like Singapore will have a hard time breaking out of this current down trend. Over the past 20 trading periods a full 60% of the volume in Singapore stocks were purchased above the current Singapore Straits Times Index (^STI) level of 1732.

Singapore MOB Index 20 Day Ownership Levels
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12.09% Between 1613.95 & 1659.12
13.31% Between 1659.13 & 1704.3
14.33% Between 1704.31 & 1749.47
15.64% Between 1749.48 & 1794.65
19.64% Between 1794.66 & 1839.83
24.99% Between 1839.84 & 1885.01

www.mobindex.com/quote...
----------------------...

These ownership levels may form a resistance point preventing the Straits Times Index from moving above 1800.

2008 Nov 29 11:08 AM