33 TECHNICAL ANALYSIS OF INTERNATIONAL STOCK MARKETS

Equities are bought and sold throughout the world for essentially the same reasons, so the principles of technical analysis can be applied to any stock market. Unfortunately, the degree of sophistication in statistical reporting of many countries does not permit the kind of detailed analysis that is available in the United States, although things are improving rapidly. Even so, it is possible to obtain data on price, breadth, and volume for most countries. Information on industry groups and interest rates is also widely available.

In this chapter we will concentrate on longer-term trends for the purpose of gaining perspective, but the analysis can just as easily be used to identify intermediate-term ...

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