Donovan Norfolk's Market Analysis: Stock Exchange of Thailand SET Index: 26 January 2014, Sunday, 10.37pm Singapore Time

Stock Exchange of Thailand SET Index: 26 January 2014, Sunday, 10.37pm Singapore Time

Chart courtesy of Chartnexus.com

Attached above is the Stock Exchange of Thailand SET Index,
reflecting the stocks market of Thailand.

+Thailand is a very good indicator of Emerging Economy

+ Distribution took place as highlighted above.
+ As indicated above, the Big Hands, Smart Monies and Market-movers made use of 2013 to unload stealthily Emerging Markets.
+ There was a very huge capital flight out of Thailand Stocks Market in 2013 as indicated above, even before the political turmoil in Thailand took place (Smart Money really SMART indeed).

+ Unlike Indonesia, there was no blocking volume; however, there was strong blocking price action at critical Resistance Zone 1 of 1455.87-1517.16 points band.

+ Very bearish

+ A Lower Resistance Zone 2 (1338-1395 points) is now used to suppress Thai Stocks.
+ There is no fear yet in Thailand Stocks Market, suggesting the current mark-down stage is healthy.
+ Compared to its Emerging Market Peers in ASEAN, Thailand is a leader in the sell-off phase.
+ The SET triangulates the Emerging Markets' Price Structures of Indonesia and Philippines:
Bearish

+ At best, Thailand will use 2014 to merely consolidate; at worst, it will have a major selling in 2014 to hit the bottom of the down-channel as highlighted in the chart below. This would represent major bearishness.

+ Emerging Markets are expected to sell off with force as per warned to get out in Nov-Dec of 2013

+ Also warned beforehand in 2013 that 2014 will be welcomed with huge sell-downs

+ The entire bearish structure will be negated only if the critical Resistance Zone 1 (1455.87-1517.16 points band) is taken out upwards to resume a bull, something of a near impossible probability. Until that happens, Thailand and Emerging Markets should continue to be regarded as bearish-looking/bearish-bias for sell/short on rebounds. If the Smart Monies already exited longs/buys of Emerging Markets in 2013, it only follows that stocks are to be trampled down furiously in prices. Smart Monies have nothing to lose in 2014 in trampling prices now.

+ ASEAN and Emerging Economies were potrayed in 2013 by mainstream media, public analysts, economists, everyone professional etc to be high growth for 2013 and 2014; all of them would be proven wrong as per how history always repeats and never fails to repeat. The fact is 95% loses.
+ While everyone bought on rosy outlook, they were sold all these pretty roses at pretty rosy prices. There is no better time for Smart Money to unload while everyone buys the rosy outlook. No better time than that to exit in 2013 out of everyone's expectation.

+ Many public are holding trapped stocks and unwanted babies based on the above chart, and majority of public worldwide are still very bullish, believing outlook is bright.
+ 2014 will not be a good year for stocks as per warned during end of 2013.

+ There is a very high chance many financial markets worldwide already had a huge capital flight out in 2013 while you were busy buying away on rosy outlook. Also warned based on my pointing out of all dark clouds forming during end of 2013.

Stock Exchange of Thailand SET Index: 26 January 2014, Sunday, 10.37pm Singapore Time
Chart courtesy of Chartnexus.com

+ Chart 2 is self-explanatory. So I would not delve into it.
+ Immediate Target is shown by RED CIRCLE above.

Emerging Markets:
Bearish

Donovan Norfolk Ang

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Donovan Norfolk's Market Analysis

Sunday, 26 January 2014

Stock Exchange of Thailand SET Index: 26 January 2014, Sunday, 10.37pm Singapore Time

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