Tag Archive | "ASX"
25 November 2009 – Quiet ahead Thanksgiving
A very quiet day again with the market popping higher. Chart patterns on the XJO are quite interesting and point to some near term strength, maybe even a retest of the recent major highs. We’ll look into that in more depth tonight in the ASX Chart Research area. Bigger picture we still feel some broader [...]
Continue reading...24 November 2009 – Losing momentum
Tuesday, November 24, 2009
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The market was dragged lower by the banking sector after news that one of the largest rights issues ever will be placed in the UK. The banking sector was already vulnerable because of the ‘sell banks, buy resources’ switch that we’ve mentioned over the last few weeks. From the early highs the market dropped 78-points [...]
Continue reading...18 November 2009 – Second weak close
Wednesday, November 18, 2009
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Yet again the market firmed on open but slid through the balance of the day. This is the second straight session where early gains have been unable to hold. Many of the broader US indices are trying to punch up into new high ground, so it could be that traders are feeling more consolidation is [...]
Continue reading...16 November 2009 – Transports closing the gap
Tuesday, November 17, 2009
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The US Dollar continue to slip and the further it drops the more supportive for stocks. Another positive last night was the continued closing of the divergence gap between the Dow Jones Industrials and Transports. The DJIA added +1.33% to the Transports +2.03%. We really want to see the Transports to make new highs though [...]
Continue reading...12 November 2009 – Weak close
Thursday, November 12, 2009
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A poor close today with the market just showing a little tiredness after its recent run. We must remember that the ASX, like the Dow Jones Transports, has put in a lower low. A swing below last weeks lows from here is a very negative signal and certainly one that portends a larger decline. It [...]
Continue reading...November 10 2009 – A day of pause
Wednesday, November 11, 2009
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After a few strong days we’ve had some quiet consolidation. The sessions range was low as was volume. Prices rotated back and forth without conviction. We stay with the view that the Dow Jones Transports index is still not confirming the bigger index strength. Also the broader indices, such as the Russell and Wiltshire, are [...]
Continue reading...10 November 2009 – Trend flips UP
Tuesday, November 10, 2009
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As you can see both the Daily and Weekly trends have flipped to UP and as a result the Systematic Powersetups have come back online. Personally I retain some doubts, specifically with the broader indices in the US making secondary lows, but until they confirm a lower high pattern we could still zip higher. I [...]
Continue reading...9 November 2009 – Good follow through…
Monday, November 9, 2009
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The market has posted 2 large up days in a row, both of which closed at the sessions highs. Interestingly enough we’ve not yet regained 50% of the ground lost over the last 3-weeks. Also to note the decline through June was -368 pts and the one we’ve just been through, or going through, was [...]
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Wednesday, November 25, 2009
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