Chart courtesy of StockCharts.com
On 11 January 2013, I warned that Korea KOSPI and the world markets will have a bullish year in general for 2013:
KOSPI-200, as well as world markets, has attempted to move bullishly in 2013. However, KOSPI hit a maximum of just slightly above 271 points since. There appears to be an increasing probability that the KOSPI (Korean Market) break up in year 2013 may fail and, as per warned, 1H 2014 will be a critical year year for world markets. World markets are shifting to bearish gear.
Attached above is the KOSPI chart (not the KOSPI-200 chart, but both are similar).
All illustrations of the KOSPI are per explained within the chart itself.
As per warned in November and December of 2013 that big hands worldwide had switched to shorting (at the peak), KOSPI has executed the critical moves as per above chart illustrated.
KOSPI is currently back-testing the 200MA bearishly.
Mid-term target is to attempt to test 1840 points. There is possibility of rebounding lightly from 1938 points before slamming down below 1900 points.
Stocks and Equities market worldwide will remain bearish until I turn for bullish reversal.
During this sell-off which will take at least 1-3 months, any market that is to remain in bull market will have to absorb as much selling as possible.
Donovan Rating:
Bearish
All past KOSPI/Korean Market Analysis:
http://donovan-ang.blogspot.sg/search/label/KOSPI
Donovan Norfolk Ang
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Ig does not hv korea
ReplyDeleteMalaysia indices to short
Which etf wil be the closest?