I noted over the w/e how the weekly candle of Gold had closed with a bullish reversal ‘Railway Track’ pattern and this pattern, formed at key $1,180 support, suggested continuation.

Dovish Fed minutes have further weakened the USD and this has given many pairs a reprieve from testing recent lows. This may allow for some bounce moves, at a minimum, and so possible target levels will be considered.

The two main Aussie stock market indices are the XAO (All Ordinaries) and the XJO (S&P: ASX 200). The XAO is currently printing its seventh consecutive bearish week and the XJO is printing its sixth out of the last seven.

October isn’t generally a good month for stocks. The US ‘small cap’ index of the Russell 2000 is often regarded as the proverbial ‘canary in the coal mine’ and has been giving some warning signals over recent sessions. One wonders if it might be about to fall off its perch!

Thurs 2nd Oct US Stocks have made a bad start to the month and, in doing so, have triggered a few warning signals that can’t be ignored. There seems to be some ‘Flight to Safety’ movement out of stocks and into bonds as well. As always, ‘One Swallow Does not a Summer Make’ so, look for weekly […]