Macro Monday 48 – The Specialists, South Korea Apologies for the delay in this weeks release South Korea appears to be an economy that is taking the specialization approach with a strong innovative focus on biotechnology, pharmaceuticals, heavy machinery, vehicles, specialized battery components and major EV battery manufacturing. The country is not just...
From failed move come fast moves in the opposite direction.
SOUTH KOREAN KOSPI INDEX - Barely holding above water Once red line breaks, potentially, a completed '2B' reversal pattern.
KOREA is one big factory with the full gamut of output, from ships to semis. The index is a key barometer for global cyclical momentum. Consolidation is complete
Korea is highly cyclical and a decent "canary in the coal mine for" a) the Semi Cycle, given the size of Samsung Electronics in the index and b) the global manufacturing cycle. Watch for a double top. This is not investment advice, I am not a licensed advisor and you should always do your own work or seek professional advice.
At least this monthly chart and trend says that... keep a close eye
Up 1.8%, the breakout here is clear for the EM as I called 3 weeks ago. This was assisted with Asia slowing in 2017/18. Asia looks better at this point because Asia technically slowed down before the West. !THD and !IDX are good longs and I will be taking them. 13:19:40 (UTC) Tue Jul 28, 2020