The problems last week started in the currency markets. A surge in the Yen is what set the Dow collapse in motion Thursday:
A surge in the Yen preceded the drop in stocks.
The Canadian dollar took a hit last week but I'm not sure why. It looks like a buy here.
The one true currency rallied nicely.
The surge in gold prices kept the gold stocks in an uptrend but the move was muted.
Unless the world economy is falling back into recession, platinum may have more upside than gold.
The flight to safety helped Treasuries....
...but hammered emerging market bonds which are a lot better buy this week than last.
High Yield bonds also took a big hit, but assuming this doesn't put us back in recession they are probably a buy here.
Some markets were unaffected. The livestock sub indices are in a nice uptrend.
Rather than look at all the markets that suffered fatal technical damage last week which includes most every market in Europe, let’s look at markets that are still above their 200 day MA:
Chile entered the correction sooner than other markets because of the earthquake. It might also exit sooner.
Peru has held up better than Brazil.
Japan is amazingly resilient.
Malaysia is still around its 50 day MA. Pretty impressive.
Singapore's economy is performing very well.
In the US, small cap looks better than large cap even though it took a bigger hit in percentage terms.
NASDAQ still looks good too. Tech should out perform if the recovery stays on track.
Despite political turmoil, Thailand's market is still in an uptrend.
And last, of the BRIC countries, the only one that still looks pretty good technically is India:
The Market Gets Greeced | Alhambra Investments
May 9, 2010 at 10:40 pm[...] Archives « Weekly Chart Review [...]