Archive | August, 2010
August 31st 2010
Weekly Trend: Neutral Daily Trend: Down Daily Momentum: ___ Neutral 80 days. That’s how long this market has been stuck in a 300-point range, about 6.75% maximum rotation from top to bottom and back again. We need to go back to mid 2006 to get a comparative example and prior to that late 2002. We [...]
Continue reading...August 30th 2010
30. August 2010
Weekly Trend: Neutral Daily Trend: Neutral Daily Momentum: ___ Neutral One day doesn’t make a new trend but we suspected that some bullish follow through was going to be seen after Fridays activity. We posted several new long trades for aggressive traders late yesterday and all of these were filled. AAX and KZL were the [...]
Continue reading...August 27th 2010
27. August 2010
Weekly Trend: Down Daily Trend: Down Daily Momentum: ___ Down I eyeballed some 500 charts this evening and one stand out pattern is bullish A-B-C’s. The daily and weekly trend is down so these don’t fit our criteria, however if the US markets have a significant bullish night I will post some setups over the [...]
Continue reading...Thursday 26th August
26. August 2010
Weekly Trend: Down Daily Trend: Down Daily Momentum: ___ Down 4494 is an important level in the ASX-200. Below that we technically retain our bearish view, but any move above takes us back to a neutral stance. If we probe a little higher after todays move, yet fail to move above 4494 the bearish pattern [...]
Continue reading...August 23rd 2010
23. August 2010
Weekly Trend: Neutral Daily Trend: Down Daily Momentum: ___ Down We’ve been flirting with the index trend being up or down over the past week. Todays very small down day was just enough to tip the scales from Fridays neutral to bearish. From a discretionary perspective the trend is neither here nor there, and by [...]
Continue reading...August 20th 2010
20. August 2010
Weekly Trend: Neutral Daily Trend: Neutral Daily Momentum: ___ Down Another stiff down day for the broader market but much of the mid-cap resource and energy sector held up reasonably okay. Technically though we retain a view that ongoing weakness is unfolding and will continue to do so until late October. Daily and weekly trends [...]
Continue reading...August 18th 2010
18. August 2010
Weekly Trend: Neutral Daily Trend: Up Daily Momentum: ___ Down The US markets struggled to hold gains into the close and because they are retesting recent highs I retain a very cautious outlook for the coming months. Our advanced technical view remains, that is we anticipate weakness through to end of October before a late [...]
Continue reading...August 17th 2010
17. August 2010
Weekly Trend: Neutral Daily Trend: Up Daily Momentum: ___ Down Interesting times indeed. The market seems intent on retesting the August 9th and June 21st highs circa 4600. A break up and through, especially one that doesn’t meander between here and there, would be quite a significant bullish signal with a possibility that a drive [...]
Continue reading...August 13 2010
13. August 2010
Weekly Trend: Neutral Daily Trend: Up Daily Momentum: ___ Down A mixed for sure at present. The market made a very convincing recovery today – basically a strong trend day where is opens on its lows then rallies all day. It rallied hard enough to reverse much of yesterdays damage. Indeed many of the small [...]
Continue reading...August 12th 2010
12. August 2010
Weekly Trend: Down Daily Trend: Down Daily Momentum: ___ Down Yet again, like so many times in the last 9-months, the market has failed to stay on a sustainable move higher. All trends reversed after todays stiff downside follow through. The market is stretched in the very short term but any low volume bounce from [...]
Continue reading...
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- The Hidden Strengths of Volume Analysis (part 1) September 19, 2010The power of correct volume analysis cannot be overlooked. Unfortunately the ability to read volume correctly is not readily discussed or freely available. Off-the-cuff remarks such as, “increased volume on advances is bullish and increased volume on declines is bearish” are bantered around but that’s as far as it goes. The correct use and application [...]T […]
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31. August 2010
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