Asian-Pacific Stocks: Don't Get Too Comfortable

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Asian-Pacific Stocks: Don't Get Too Comfortable
Egypt, Israel and Turkey: This month's Asian-Pacific Financial Forecast also includes forecasts for those markets

By Vadim Pokhlebkin
Fri, 29 Jun 2012 17:30:00 ET

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It's always darkest before the dawn, goes the saying. Yet if that's true, then wouldn't the opposite be just as true?

"Asian Stocks Head for Biggest Gain This Year on Europe Progress‎," reported the June 29 San Francisco Chronicle.

How much longer will we see "sunny" headlines like this one?

The latest, July issue of our Asian-Pacific Financial Forecast shows you what no one else does: time-tested technical analysis evidence that backs up our analysis:

Chart Spotlight: JAPAN. One look at the Elliott-wave labeled chart of Japan's broad-market TOPIX index, and you'll understand why caution is the best advice. We explain it all in the text, too.

AUSTRALIA:The ASX All Ordinaries and the ASX 200 Materials indexes spot the same Elliott wave pattern -- and it ain't pretty.

CHINA:The Elliott wave patterns of the Shanghai Composite, the price behavior of the smaller-cap indexes, the depressed sentiment, and the position of the price/earnings ratio for Shanghai A-shares -- all make us believe that China might be one of the few bright(er) spot in the region. Get the details inside the new issue.

INDIA:The Elliott wave position of S&P CNX Nifty and the BSE Auto Index are also encouraging.

HONG KONG & SINGAPORE: The Hang Seng and Straits indexes don't share the same Elliott wave pattern -- but they do likely share the same future trend, nonetheless.

KOREA: Here, the country's KRX Bank tells the story for the broad-market KOSPI. Also: In June 2008, thousands of Korean truckers went on strike to protest rising fuel prices...right before a huge top in the KOSPI. Today, 200,000 Korean taxi drivers are striking...get our take on what that might mean for stocks.

ISRAEL: Much like the bank index/broader market in Korea, Israel's Tel Aviv Banking Index sets the pace for the Tel Aviv 100 Index. Also: Get our socionomic take on the latest wave of "left-wing events" across Tel Aviv.

EGYPT: In Elliott wave terms, the Hermes Index has much in common with Jordan’s stock index (the region's oldest continually traded market). Our socionomic analysis of the latest events in Egypt supports that view -- as well as an optimistic outlook. See the charts to understand more.

TURKEY: The ISE 100 stock index has been in a huge rally since the late 1980s. But now the position of the Non-Metal Mineral Index has us concerned. We show you the evidence via 2 charts, side-by-side.

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Trusted since 1979, Bob Prechter’s straight-talking Elliott Wave Theorist is the bedrock of EWI analysis. Delightfully contrary, refreshingly logical and downright accessible, the Theorist is a must-read for every independent investor. You get thought-provoking analysis and forecasts on the intermediate- and long-term direction of the financial markets, critical trends in investor psychology plus timely in-depth research and insights you’re guaranteed not to get from any other source.

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Tags: ASX All Ordinaries, Bank of Japan, BRIC, buy and hold, Chinese markets, diversification, Elliott wave, Indian markets, investment strategy, SENSEX, Shanghai Composite Index, Taiwan index

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