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CGTS Monday 22 June 2009: Buy Signals on Foreign Indexes: Australia, Japan

|Includes:United Parcel Service, Inc. (UPS)

Clark's Gate Timing System ©
Monday 22 June 2009

Buy Signals on Australian and Japanese Indexes

While I’m very suspicious of this rally, I’m still getting buy signals on foreign indexes: the Australian All-Ordinaries Index (AORD) and the Nikkei (N225).

 AORD ChartClick to enlarge

 

N225 ChartClick to enlarge

I am suspicious about the rally because I view it as a Bear Market Rally – and expect a testing of March lows.  One of the bell-weather stocks of a recovering global economy will be United Parcel Service (NYSE:UPS).  UPS is very negative at the moment, showing a continuation of bearish behavior, broken support, failed resistance and a descending wedge technical formation.
 

 

Click to enlarge
 

More information on this system can be found at

home.mindspring.com/~mclark7/CGTS09.htm

MJ Clark's Gate Timing System
22 June 2009
Hanoi, Vietnam

 

Stocks: UPS