Feb 122013

Hello Everyone. There have been several requests from traders in the Middle East for an update on the Saudi Stock Index. You should take a look even if you have no interest in this market! Let me share with you some charts today just to show how you could have identified key levels by using some of the techniques you read about in my book Five Waves To Financial Freedom” The first chart here shows how you could spotted an important turn level by identifying a 50% retracement of a prior big down move.

Afterwards, from around 7950, the TASI index came off to a key support at the 70.7% level as shown here.

Was there any way you could have gained confidence that this support at the 70.7% level is likely to produce a bounce? Sure. Take a look at the next two charts.

More recently, we have run into some selling just below 7200. Wonder why?

Well, this blog intends to TEACH you how to use Elliott Waves. And it is all FREE. Go ahead and explore the hundreds of examples. Of course, you could also get hold of my book, if you like.

Feb 122012

Saudi Arabia's TASI index

My last Elliott Wave analysis of Saudi Arabia’s TASI index was back in July 2011, and a lot has happened since then. The index has powered ahead from a low of 5795 posted in August 2011 to the current level of 6780, a handsome 17% gain. In the big picture, I feel we could see a move to 7940, but there are some hurdles on the way, mainly around the 7000 level. Immediate supports lie at 6650, and stronger supports further down at 6500.
Jul 182011

Back in November 2008, I had written how the Saudi stock index has left investors shell-shocked, and that the pain was far from over. The index came off by another 25% from the time of those comments. So what does Elliott Wave Analysis of TASI, or the Saudi Stock Index tell us know? See the chart for the latest.