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Monday, 23 June 2014

Dow Jones Portugal Stock Index: 23 June 2014, Monday, 1.20am Singapore Time

Chart 1
Dow Jones Portugal Stock Index: 23 June 2014, Monday, 1.20am Singapore Time
Chart courtesy of StockCharts.com

Dow Jones Portugal Stock Index tracks closely to the PSI-20 (Portuguese Stock Index traded in Euronext Lisbon)

Secular Term Time-frame Technical Analysis of Dow Jones Portugal Stock Index is as per illustrated in Weekly Chart 1 above. The major top has formed.

Donovan Norfolk Technical Rating:
Bearish
Bear Market Transition
(Sell on Rebounds)

Dow Jones Portugal Stock Index: 23 June 2014, Monday, 1.20am Singapore Time
Chart courtesy of StockCharts.com

Shorter Term Time-frame Technical Analysis of Dow Jones Portugal Stock Index is as per illustrated in Weekly Chart 2 above:
+ Escape Wave created by the ECB has ended at the Price Satisfaction Zone (PSZ) of 183 points.
+ A major top has formed.
+ Portuguese Stocks and Equities Markets are in transition to bear markets as per warned by the funds flow analyses.


Donovan Norfolk Technical Rating:
Bearish
Bear Market Transition
(Sell on Rebounds)




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