Market Status.

From this time onwards, I will not be publishing Market Next Week. Instead, the weekly report will be named as Market Status.

 

Last week, I had expected that market is close to a reversal. It turned out the other way. Pretty strong moves pushed the index to much higher levels… The whole analysis went wrong. This is one of the reasons; I am abandoning the analysis part of it. Why should I too do it, when there are several avenues for you to get such analysis on “expectations”.

 

Instead, I will concentrate on what my signals indicate. This will be more accurate and useful to readers. There will be no “ May Be” , but the current status only. That is Bullish or Bearish. It is as simple as that.

 

So… on the Weekly scale and daily scale, market is Bullish at present.

 

For Gulf readers, All the Gulf Markets which were bearish (as per TTI) from Apr 2010 has now turned Medium Term Bullish. The strongest being the Dubai Financial Markets, which broke out on 5^th Sept. Kuwait Stock Exchange confirmed the breakout on 8^th Sept. Abu Dhabi on 7^th Sept.

 

Dubai Financial Market had dropped over 17% from the TTI confirmation point, Kuwait over 15% and Abu Dhabi over 10%.

 

All the other markets have too much analysis coming out, but not for Gulf markets. So why not add that in my weekly report…