This is the Monday Morning Markets analysis available to members of the Saturday Economist Club. We monitor ten markets across the world together with an update on commodity prices and bond yields. For exchange rates check out our weekly exchange rate updates. For the outlook on copper and metals check out our weekly metals update. The comments on markets should not be construed as the giving of investment advice. Markets do not always behave according to trend! JKA

1. Monday 19th July 2021
Monday Morning Markets
The Saturday Economist

2. The Saturday Economist : Financial Market Updates
The Saturday Economist Club
The material is based upon information which we consider to be reliable but we do not represent that it is accurate
or complete and is should be relied upon as such. We accept no liability for errors or omission of opinion or fact. In
particular no reliance should be placed on the comments on trends in the
fi
nancial markets. The provision of the
data, charts and the comments within, should not be construed as the giving of investment advice.
Monday Morning Markets
This is the Monday Morning Markets analysis available
to members of the Saturday Economist Club.
We monitor ten markets across the world together with
an update on commodity prices and bond yields.
For exchange rates check out our weekly exchange
rate updates. For the outlook on copper and metals
check out our weekly metals update.
The comments on markets should not be construed
as the giving of investment advice.
Markets do not always behave according to trend!
JKA

3. Last
Week
This
Week
Change
%
Dow 34870 34688 -0.52%
S&P 4370 4327 -0.98%
Nasdaq 14702 14427 -1.87%
FTSE 7122 7008 -1.60%
CAC 6529 6460 -1.06%
Dax 15688 15540 -0.94%
Hang Seng 27345 28005 2.41%
Nikkei 27940 28003 0.23%
Shanghai 3524 3539 0.43%
BSE 52386 53140 1.44%
Average - - -0.25%
Monday Morning Markets
The Saturday Economist
19th July 2021
US and European markets were softer this
week. Nasdaq and FTSE noticeable losers.
Asian markets fared well. The rally in Hong
Kong noticeable as con
fi
dence returned to
tech over sold stocks.
Lots of downside in the charts …
check out the detailed analysis …

4. DOW JONES
16,000
18,000
20,000
22,000
24,000
26,000
28,000
30,000
32,000
34,000
36,000
J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J
Market Close
This Week 34687.85
Last Week 34870.16
Change -182.31
Change -0.52%
The Dow closed down 182 points this
week as markets moved on from fears
about rates to worry about over extension
.
The move returns the index towards our
comfort zone
.
The index should
fi
nd support at th
e
32,000 level. 31,000 would offer the ful
l
correction. A 10% correction
.

5. S & P 500
2,000
2,250
2,500
2,750
3,000
3,250
3,500
3,750
4,000
4,250
4,500
4,750
5,000
J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J
Market Close
This Week 4327.16
Last Week 4369.55
Change -42.39
Change -0.97%
The S&P closed down 42 points,
technically the index should
fi
nd support
at the 4000 level.
The most impressive chart pattern of the
US big three. The longer term chart
suggest 3500 would cover the downsid
e
but 4000 could be considered as a buy.
4000 would ful
fi
l a broad 10% correctio
n

6. NASDAQ
6,000
6,500
7,000
7,500
8,000
8,500
9,000
9,500
10,000
10,500
11,000
11,500
12,000
12,500
13,000
13,500
14,000
14,500
15,000
J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J
Market Close
This Week 14427.24
Last Week 14701.92
Change -274.68
Change -1.87%
Triple top at 14,000 and a move out of
range, NASDAQ down 275 points this
wee
k
It would take a full correction of over
20% to bring the index back into stride
.
Lots of support at 12,000 that would be a
full adjustment
.

7. FTSE
4,000
4,500
5,000
5,500
6,000
6,500
7,000
7,500
8,000
J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J
Market Close
This Week 7008.10
Last Week 7121.90
Change -113.80
Change -1.60%
The FTSE closed down 114 points, still
closing above the critical 7000 level
.
Lots of support around the 7000 level. A
full test of the 7,500 high may have to wait
for now
…

8. CAC
2,000
2,500
3,000
3,500
4,000
4,500
5,000
5,500
6,000
6,500
7,000
J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J
Market Close
This Week 6460.08
Last Week 6529.42
Change -69.34
Change -1.06%
The CAC moved down 69 points in the
week
.
Consolidation evident at current levels,
the index looks ready to move higher
.
The strong bull rally since April last yea
r
looks to continue after some consolidation
around 6500?

9. DAX
7,000
8,000
9,000
10,000
11,000
12,000
13,000
14,000
15,000
16,000
17,000
J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J
Market Close
This Week 15540.31
Last Week 15687.93
Change -147.62
Change -0.94%
The DAX closed down 147 points.
Consolidation continues at current
levels evident before a move to highe
r
ground
.
The German index may have exhausted
the bull rally since April last year for now
.

10. HANG SENG
20,000
21,000
22,000
23,000
24,000
25,000
26,000
27,000
28,000
29,000
30,000
31,000
32,000
J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J
Market Close
This Week 28004.68
Last Week 27344.54
Change 660.14
Change 2.41%
The Hong Kong roller coaster not one fo
r
the faint hearted. The index moved u
p
in the week by 660 points
.
Next move tough to call … but 28,50
0
has some allure … to the downside
26,000 beckons
…

11. NIKKEI
16,000
18,000
20,000
22,000
24,000
26,000
28,000
30,000
32,000
J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J
Market Close
This Week 28003.08
Last Week 27940.42
Change 62.66
Change 0.22%
The Nikkei closed down 62 points. The
strong move since the end of last year
was exhausted by February
.
The overhead patten will require some
completion now. That’s the price of a 30%
rally
…

12. SHANGHAI
2,400
2,500
2,600
2,700
2,800
2,900
3,000
3,100
3,200
3,300
3,400
3,500
3,600
3,700
3,800
J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J
Market Close
This Week 3539.30
Last Week 3524.09
Change 15.21
Change 0.43%
The Shanghai index closed up 15
points.The process of consolidation
continues
.
The push to 3,600 completed. We would
expect some support on trend lines. 3400
remains a promising downside
…

13. BSE SENSEX
20,000
24,000
28,000
32,000
36,000
40,000
44,000
48,000
52,000
56,000
60,000
J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J
Market Close
This Week 53140.06
Last Week 52386.19
Change 753.87
Change 1.44%
The Bombay Stock Exchange Sense
x
closed up 750 points this week.
The index moved from 26,000 in April last
year to over 50,000 in February
.
Consolidation inevitable, the
fl
ag waved to
the downside in June. The index appears
to be overextended
.

14. MSCI WORLD INDEX
0
100
200
300
400
500
600
700
800
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
427.63
186.87
280.15
357.24
-15.88%
371.66
541.67
455.66
431.55
-13.88%
-21.58%
-56.3%
Trend Rate 8.5%
Always a favourite. The MSCI world wid
e
index demonstrates how markets hav
e
moved out of the comfort zone
.
A near 25% correction required to retur
n
the index within the long term tradin
g
band
s

15. MSCI WORLD INDEX
0
100
200
300
400
500
600
700
800
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
427.63
Trend Rate 8.5%
186.87
Technical chart for analysis only.

16. GOLD
1,200
1,300
1,400
1,500
1,600
1,700
1,800
1,900
2,000
2,100
2,200
J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J
Market Close
This Week 1814.50
Last Week 1810.00
Change 4.50
Change 0.25%
Gold the “Old Relic” and classic in
fl
ation
hedge moved up $4 dollars.
Lots of overhead resistance would need
a big break out to make any meaningfu
l
move. We said last week, expect a
pullback in the near term.
Lots of support at $1700 dollars, which
may be tested soon
…

17. OIL
0
10
20
30
40
50
60
70
80
J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J
Market Close
This Week 73.59
Last Week 75.55
Change -1.96
Change -2.59%
Oil is trading lower having pushed through
the $70 dollar level and tested the $76
dollar level
.
$74 dollars the close. Oil WTI opened
below $70 this morning 19th.
$65 - $70 dollars is the band for brothers,
we are deaf to the calls of $100 dollar oil.
Check out our “What next for oil prices”
.
for the full analysis. Published in May we
expect the US oil rigs to come back on
stream soon
.

18. TEST
35,000
35,500
36,000
36,500
37,000
37,500
38,000
38,500
39,000
39,500
40,000
40,500
41,000
J F M A M J J A S
Market Close
This Week 37384.99
Last Week 36981.77
Change 403.22
Change 1.09%
This is a working slide for developmen
t
and production use only
…

19. The Saturday Economist : Financial Market Updates
The Saturday Economist Club

20. Monday 19th July 2021
Monday Morning Markets
The Saturday Economist