Last week: Welcome to the first review for 2021 and I’ll start by wishing everyone a safe and happy new year. I had thought the last week of the 2020 trading year might be relatively quiet but there ended up being a few trend line breakouts stemming from US$ weakness. There was also the continued melt-up […]
The main item of note since my last update is the signing of a US Covid relief bill. Stocks have drifted higher on this news although the details of the Bill remain to be finalised. Most other charts are little changed except for a pullback on GBP pairs. This is just a brief holiday week […]
Last week: Christmas week resulted in some low-volume breakout trades and this was exacerbated with news of the post-Brexit trade deal and the continued wait for a US stimulus package. All four of the major US stock indices, the S&P500, NASDAQ, DJIA and Russell-2000, closed with bullish weekly candles and the small caps Russell-2000 continues […]
Silver has caught my eye this week as price action shapes up in a weekly chart congestion pattern and it could be worth watching for any new momentum-based trend line breakout. Traders also need to keep an eye on the US$ index, however, as it is shaping up in a bullish-reversal chart pattern that, if […]
A member asked me to review an Australian ASX stock, Whitehaven Coal: WHC. Coal mining and Aussie coal exports have been in the news of late as part of the evolving trade tensions experienced with China. There have also been some management issues for the company this year. Despite all of this, price action for […]