Above 200 dma 30 day ex.m.a above the 30 day s.m.a and both bellow the share price = bullish if it can hold a few more days In slipstream language (although i use slightly different ma's) intermediate and long term uptrend Source: me
If it cant break through the resistance - get set for a fall or a very tight short term range S&P500 (USA) is still bullish and not looking like slowing down So - make your own conclusions
Posted this one a while back but it hasn't manage to move away from 4300. http://www.smh.com.au/business/markets/shares-may-finally-crack-4300-ceiling-20120326-1vtp4.html
There has been so many false breaks - but looks like she wants to bust through Don't wanna be too bullish yet
30 day exponential ma is acting as support after today's close bullish signal for now at least Still that 3300 resistance
I was also revising individual stock health out of my babies from the GOLD/SILVER/PLATINUM miners SLR, TRY & EVN Are the only ones still above their 200 day moving averages Also according to my oscilator are over sold (doesnt mean a buy) SLR and EVN are under valued according to ev/total defined resource EVN is most so
The 200day sma for the asx200 is at 4213, so if it breaks below there and hold for about 4 days - watch out Im looking for a full correction of the XGD (ASX gold ords) to 5000 which is a return to 2007 levels. I think both silver and gold will false break their supports - to complete the selling of the herd who moved in from late 2010 till now - lots of money moved into gold at 1600 so they need to be scared out hence the false break to the downside. The asx and s&p will ralley to support the above. Dont know what will happen in europe which could modify the above, QE would modify the above also. I reserve the right to be wrong - and everyone needs to make their own choices, coz im not a professional nor am i an advisor.
Agree. To me, ASX200 is looking ominous. Daily shows clear 50% retracement that is struggling to be broken, with MACD showing bearish divergence, and price dancing either side of support. Weekly looks a whole lot worse, retracement completed, MACD bearish divergence, with a break of support indicating downside target around 3600-3700. I also reserve the right to be wrong.
As an aside i see that the eurostoxx 50 is trading at around 9 times forward earnings and 1 times book value. Now the question is whether those earnings or book values hold... Back to the main topic - as long as the asx 200 is under 4300 i would be bearish.