[Premium] Three Charts For The Week Ahead

Last week we focused on Bank Nifty, Nifty Auto and Nifty Pharma.

Let's move into this week's topics.

1.  The first chart on our radar is Kospi 200. Last month we were tracking Kospi 200 as a leading indicator of breakouts in the Asian markets. Today we want to see if the failed breakout and the move back below the resistance can give us any indication of a leading signal again.

Kospi 200 failed to hold its ground above 428 following an almost vertical move from 325 to 428. We did witness a slight pause in trend this past week and would like to track this space for any developing signs of market sentiment.

Click on chart to enlarge view.

2. The second chart we're looking at is Hang Seng. The index is currently only inches below its 2-year resistance, and we're interested in observing the move going forward.

A breakout above 30,100 could take the index towards 31,600. A turnaound from these levels however could set the tone for other Asian markets as well.

3. The third chart we're looking at is the S&P Global 100 ETF. Although the index has been moving higher over the past several weeks, we are seeing a minor bearish divergence in the recent move.

While there can be bearish divergences in a long-term bull market owing to minor shifts in momentum, we'd like to keep an eye on this one to see if a discernible signal develops going forward.

In our view, these charts will help set the tone for this week and provide us information on how we should approach the market in the coming weeks.

Also, make sure to check out our other weekly post, "Trade Of The Week."

Thanks for reading and please let us know if you have any questions.

Allstarcharts Team