Today's interesting charts
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UK FTSE-100 - posts a new recovery high and while it is a little overbought in the short-term, a downward dynamic would be needed to question scope for additional upside. A sustained move below the February low would be required to question the consistency of the medium-term uptrend.
Denmark - continues to extend the breakout from the two-month range and a sustained move below 350 would be required to question scope for further upside.
Sweden - breaks upwards from the four-month range but remains below the psychological 1000 level. Nevertheless, a downward dynamic would be required to hinder potential for further upside.
Finland - continues to extend this week's breakout and, while somewhat overbought as it approaches the psychological 7000, a downward dynamic would be required to question scope for further higher to lateral ranging.
Switzerland - continues to extend the recent breakout and a sustained move below 6600 would be needed to limit scope for further higher to lateral ranging.
Israel - breaks upwards from the two-month range, reasserting the medium-term uptrend and a sustained move back below 1100 would be needed to question scope further upside.
Malaysia - testing the January high near 1300 and a downward dynamic would be required for this area to offer anything other than temporary resistance.
Colombia - moves to a new all-time high and a downward dynamic would be needed to question scope for further higher to lateral ranging.
Portugal - found support above the psychological 7000 in early February and continues to rally from that area. A sustained move below 7500 would now be needed to question potential for further higher to lateral ranging.
Conclusion - An increasing number of stock market indices are breaking upwards to new recovery and all-time highs. Most globally significant markets found support in the region of their 200-day moving averages and are rallying. None are making new reaction lows. Against this background, we can conclude that the generally bullish cyclical environment remain intact.
