Back in November 2019, when Westpac Banking Corporation (WBC) was trading at $24.77, I flagged $15 as a worst case scenario level for the bank stock. Price action has now tested this key level and is currently consolidating above this support zone. There are no guarantees which way price action will head from here but […]
Is this it? Are we witnessing the beginning of a shift between the ASX-200 and S&P500? Where the ASX-200 no longer under-performs the S&P500? I’ve long wondered what could initiate such a significant shift but now ponder whether the Covid-19 pandemic might be just the trigger!
The S&P500 will be closely scrutinized in coming sessions to see whether price action might mirror what was experienced back in the last major market pullback of the Global Financial Crisis (GFC) 2008-2009. In this post I compare current price action of the S&P500 with charts from back in the GFC era and note key […]
One of my subscribers asked me to review a couple of ASX stocks for him this morning so, with our ASX-200 index trying to hold near major 4,600 / 4,700 support, I thought I’d cast me eye over a few other stocks as well. This particular support level held for the index back in the […]
The ASX-200 has retraced to a significant potential weekly-chart support level and so I thought the Index warranted a deeper review and a post of its own. I say potential because this support level held back in the 1987 and Global Financial Crisis (GFC) pullbacks. There is no guarantee that it will hold this time […]