There have been triangle breakouts on the stock index charts since I last posted over the weekend. This is a summary of the points movement thus far with the weekend charts followed by today’s updated chart.
Here are some quick thoughts on the four major US Indices: S&P500, DJIA, NASDAQ and Russell-2000. All are currently forming up with bearish monthly candles but rounding, or topping, action is more developed on the S&P500, DJIA and Russell 2000 than on the NASDAQ. The NASDAQ may follow suite here of course but, given its […]
I was asked my view on Aussie Gold stocks so thought I’d post charts of some that I’m keeping an eye on as the precious metals both flirt with 6-year bear trend lines.
Gold and Silver have been preforming strongly this year with Silver breaking up through a 6-year bear trend line and Gold up testing its 6-year bear trend line. The US$ has faced a bit of weakness lately and, if this continues, it could prove to be just the right ingredient to help these two to […]
Yesterday I posted 4hr charts of some of the major stock indices showing them trading within various technical patterns. Whilst stocks traded lower on Wednesday amid geo-political concern, for now, they remain within these consolidation patterns. The drill remains the same: watch for any momentum based trend line breakout.