Looking at the major stock indices is a bit like a Tale of Two Cities with the US indices seeking gains this week whilst the others have mostly consolidated. Here’s how I’ve seen this play out on the 4hr charts:

The ‘Big Four’ Aussie banks have reacted negatively to the new Government Bank levy and this is reflected in recent price action. Here’s what I’m seeing on their charts and the levels I’d look at for any potential support should the sell-off continue.

Here are how the 4hr charts of some of the stock indices are shaping up in light of the recent US White House news. The drill is the same as always: watch the trend lines for any momentum-based breakout.

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 […]