- Aus200 from Sidney
- IBEX from Spain
- MIB from Italy
- FTSE from UK
- CAC40 from France
- Bovespa from Brasil
Why? Because in the last couple of days when all US indices were on the ground and the selling momentum was extreme, vast majority of investors turned into risk-off mood. Most of those indices above haven’t been reacted on the big sell off at all or just very slightly. They are really good bargain because all of them especially the AUS200 showed real strength yesterday and today when the Nasdaq dropped more than 4,5%.
In the last falling and correction days the AUS200 just dropped few points and tonight and today gained back again very closely to its previous top. The bullish momentum is pretty strong on AUS200 and also shows a great arbitrage deal because last year underperformed the US indices massively. And, it is still lagging behind. Now the price is around 5,500 and in our expectation could be easily within few weeks at the key resistance level at 5,665 and then the way is opened for upper rally up to 6,760 which was the previous top right before the world financial crisis in 2007.
The BFM Assets Team.
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