Looking at this MONTHLY chart of previously used template all the instruments in analysis except oil at the bottom window are still considered to be in their MAJOR UPTRENDS. For XAO as we know we apply 20 % rule. For all the others, the relationship of the price action in relation to the 12 period SMA is used. No doubt there are short as well as medium term concerns but SP500,DAX,SSEC are all above their 12 period SMA’s. Until I see an EOM close, below their 12 period montly SMA’s, my personal, long term bullish stance will continue.
Chart is “Courtesy of StockCharts.com” .
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