Vaneck Index Fund bearish outlook towards the end of 2018
The Indonesian stock exchange is down and so is Vaneck's Vector Indonesia fund (not just stocks). There are signs of a post-corrective rally in the Jakarta Composite Index 45.
On the face of things however, it seems hard to make the same determination about Vaneck's Indonesia Index as it appears to have just completed wave A down and some of the way through the wave B rally (so it seems to be around half-way through its corrective phase).
In the short-term it seem likely that the current rally will go up ~5% to around $22 and the re-commence the final corrective phase down.
There doesn't seem to be any clear tendencies in wave C extensions: some as low as 0.618 extension of wave A and some as much as 1.618. Mainly based on the signs of recovery within the Jakarta Stock Exchange (which will help the Bank stocks that seem to make up a significant portion of the ETF) I wouldn't expect much more than a 0.618 wave A extension for wave C - which would mean an 18% decline at a minimum before the end of the year.
I am not a professional, this is just for my own education. All care and no responsibility - just like the people that manage your investment portfolio :) If I can spend 5 minutes on the chart and correctly (we will see ay - I could be wrong) pick it going down 18% or more then what are the professionals doing to protect your investment?
I wouldn't mind a like or two - some posts have ~100 views per like. Let's see how it develops. This is 100% technical analysis and comprises 0% fundamental analysis. There are vast benefits to conducting your own research (if you have time).
I chose this ETF randomly and have no investment in it or any other link to it either now or in the past.
On the face of things however, it seems hard to make the same determination about Vaneck's Indonesia Index as it appears to have just completed wave A down and some of the way through the wave B rally (so it seems to be around half-way through its corrective phase).
In the short-term it seem likely that the current rally will go up ~5% to around $22 and the re-commence the final corrective phase down.
There doesn't seem to be any clear tendencies in wave C extensions: some as low as 0.618 extension of wave A and some as much as 1.618. Mainly based on the signs of recovery within the Jakarta Stock Exchange (which will help the Bank stocks that seem to make up a significant portion of the ETF) I wouldn't expect much more than a 0.618 wave A extension for wave C - which would mean an 18% decline at a minimum before the end of the year.
I am not a professional, this is just for my own education. All care and no responsibility - just like the people that manage your investment portfolio :) If I can spend 5 minutes on the chart and correctly (we will see ay - I could be wrong) pick it going down 18% or more then what are the professionals doing to protect your investment?
I wouldn't mind a like or two - some posts have ~100 views per like. Let's see how it develops. This is 100% technical analysis and comprises 0% fundamental analysis. There are vast benefits to conducting your own research (if you have time).
I chose this ETF randomly and have no investment in it or any other link to it either now or in the past.