Wednesday, August 21, 2013

ASEAN Equity Market Meltdown in Pictures

Here are the updated ugly graphs conveying the damage wrought by the global bond vigilantes on ASEAN equity markets.

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The breakdown of Indonesian bellwether (IDDOW) appears to have ushered in a full blown bear market 

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Thailand’s SET’s head and shoulder breakdown reinforces the downside ‘toppish’ action

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Malaysia’s (MYDOW) trend break accentuates the actions of the former two.

The Philippine Phisix has been out of picture given two days of suspended trading due to floods and today’s public holiday

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Nonetheless here is the Phisix US (New York) traded ETF proxy, the EPHE, also on a short term head and shoulder breakdown. The bigger head and shoulders I didn’t include.

The bear market signals in ASEAN equity markets appear to be converging and strengthening.

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And I may add this conspicuous rounded top by Singapore’s STI

Read my earlier explanations on the ASEAN meltdown here, here, (and my warnings) here and here

Caveat emptor

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