The Chartist

September 7th 2010

Weekly Trend: Up Daily Trend: Up Daily Momentum: ___ Up On the surface a quiet day, but on closer inspection the market got a little wobbly late in the day after the Labor announcement was made. What we’ve not really had a good handle on to date is how much a Labor victory had been [...]

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September 7th 2010

September 6th 2010

Weekly Trend: Up Daily Trend: Up Daily Momentum: ___ Up A very strong day out in the mid cap resource and energy sectors which is the area of my main focus and one that has been mentioned in these pages before. If I can say anything bad about this recent strength it’s that it may [...]

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September 6th 2010

September 2nd 2010

Weekly Trend: Up Daily Trend: Up Daily Momentum: ___ Up An up day to be sure, but an overly convincing one, although we did most of our upside yesterday. Many stocks gapped open on the US lead but dropped back intra day, which is quite usual. The bulls are chomping at the bit. Those stocks [...]

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September 2nd 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 [...]

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August 31st 2010

August 30th 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 [...]

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August 30th 2010

August 27th 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 [...]

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August 27th 2010

Thursday 26th August

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 [...]

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Thursday 26th August

August 23rd 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 [...]

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August 23rd 2010

August 20th 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 [...]

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August 20th 2010

August 18th 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 [...]

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August 18th 2010