I always emphasise to keep an open mind and to trade what you see and not what you think and Monday’s market start further proves this point. It all looked rather ominous at the end of last week but positive risk appetite was back in play with US stocks closing higher and there have already been some great trend line breakouts. The US$ edged up a bit but remains in the Cloud so watch this region for any new breakout. Despite this, the Aussie dollar traded higher but watch today for any impact from the RBA rate update.

 

Data: the RBA rate update is the main item today.

 

DXY daily: watch for any Cloud b/o:

 

Trend line breakouts:

ASX-200: a great trend line breakout move here for up to 100 points.

ASX-200 4hr: the weekend chart:

 

ASX-200 4hr: today’s chart after the 100 point move:

 

ASX-200 15 min: note the TL b/o came with a momentum move above the Cloud:

 

S&P500: a great trend line breakout here too for up to 60 points:

SPX 4hr: the weekend chart:

 

SPX 4hr: today’s chart after the 60 point b/o move:

 

SPX 15 min: the break above 3,850 was an ok clue:

 

AUD/USD 4hr: higher to start the week but watch with today’s RBA rate update:

 

AUD/JPY 4hr: ditto:

 

Other charts:

Gold 4hr: messy but note the hold above the revised weekly chart Bull Flag:

 

EUR/USD 4hr: messy so watch the DXY for clues here:

 

USD/CAD daily: note the pause at the upper wedge trend line:

 

Other charts: not greatly changed from w/e update.