Market glance Note that the whipsaw on XLF has disappeared. All mid-term trend signal is down. SP500 is going up because US dollar is appreciating Here is weekly chart which compares the following four indices: - $SPX:$USD: the US market;
- $MSEAFE: Europe, Australia, and Far East markets;
- $MSWORLD: the world market excluding US;
- $MSEMF: the emerging market.
After
taking account into the appreciation of the US dollar, it is obvious
the market was actually dropping instead of rising during the past few
weeks. Here is the daily chart: Here is the performance comparison during the past year: and during the past 90 days (note that the markets all over the world seem being synchronized). Comparison between US, Hong Kong, Singapore, Japanese markets, and the world average during the past 180 days. Comparison between different sectors in the US market Conclusion: During
the good years, the money will flow to the emerging market. However
the money will flow back to the US market during the bad times because
the volatility of the US market is relatively small. When the bull
market is coming, we should definitely invest in the emerging market.
Wish respect to different sectors, it is difficult to say which one
will survive the best but the energy sectors seems doing well in
general, of course the entry point is critical.
SP500 daily chart and wave counting: Here is the update of the chart in the last weekly analysis. XLF daily chart and wave counting: Update of the last chart. I also have a SKF daily chart as follows: SPX 60-min chart: The
upside target is 1270. After reaching (or overshooting) that point, I
expect a downside movement. Will the rate cut by Fed be a stimulus to
the spike? Let's wait and see. XLF 60-min chart: It was weaker than my expectation. I still look forward more upside movement before diving down. QQQQ 60-min chart: No touching it for now. It was the weakest but might become the earliest sector that bounces back. QID 60-min chart: It is bearish. Wait and pick it up later. Here are three P&F charts. SPX: XLF: SKF: 
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