During July, all 11 covered indices made substantial gains.

Given the performance in the previous months, all covered Asian indices got a "buy" indication after the July closing. However, the Hong Kong Hang Seng Index, the Chinese Shanghai Composite and the Indian Bombay Stock Exchange Index all got as well a "sell" warning since these indices have gained so much during the recent months and a sizeable correction in these indices is therefore a risk. Investors in these indices shall be aware of that.

Half of the US indices (Nasdaq and S&P 500) got a continued "buy" indication while the Dow Jones Index and NSYE will get one next month as well in case they show gains during August. All together, the BuyOrSellFunds methodology leads to a vision at this moment that the US indices will continue to rise on average the coming months.

The European markets made very good gains during July but will only get next month a new "buy" indication from the methodology if they can show another month with gains during August. Overall, the trend in all indices together gives an outlook that the West European markets will follow the Asian and American markets and continue to rise. But it is not as clear as for the American and Asian indices and investors shall be cautious therefore.