The local market could soon break above some overhead resistance. Technically the market is still in a congestion pattern with the break yet to come. No doubt volatile markets could be with us for some time given all that is happening.
The graph below shows the cumulative returns of different asset classes between 1972 and 1982 the last time stagflation reared its head.
A chart of the S@P 500 market showing one analyst view of where the market might go from here.
After retracing around 20 per cent from the top the Nasdaq market could be forming a bottoming pattern.
Elders shares jumped after posting some nice results.
CSL could be stuck moving sideways for a while yet when looking at previous congestion patterns.
Johns Lyng Group could benefit from infrastructure rebuilds.
Data centre mob NextDC looks to be finding support at these levels.
Can Xero find some support here?
Former market darling Austal could be forming a bottoming pattern.
Cochlear has formed a pattern of rising spike lows.
Table
Security | Units bought (sold) | Date | Open price/ From last table | Current/close | $ gain/loss |
Bought Whitehaven Coal c/f at $2.76 | Bought 1,000 at $2.70 | 23/12/2021 | $4.07 | $4.02 | -$50.00 |
Bought Brainchip Holdings | Bought 500 at 85c | 5/1/2022 | $1.03 | 96c | -$35.00
|
Bought Computershare | Bought 120 at $20.50 | 5/1/2022 | $20.57 | $22.45 | +$225.60 |
Bought Macquarie Group | Bought 10 at $199.00 | 9/2/2022 | $175.00 | $186.00 | +$110.00 |
Bought Red5
| Bought 5,000 at 29.5c | 9/2/2022 | 35c | 37c | +$100.00 |
Bought CSL
| Bought 12 at $260.00 | 16/2/2022 | $256.00 | $263.00 | +$84.00 |
Bought Northern Star | Bought 400 at $10.00 | 22/2/2022 | $10.87 | $10.47 | -$160.00 |
Bought Monadelphous | Bought 300 at $11.00 | 23/2/22 | $10.96 | $11.02 | +$18.00 |
Bought Goodman
| Bought 100 at $22.00 | 2/3/22 | $21.34 | $21.86 | +$52.00 |
Bought Pilbara
| Bought 800 at $2.80 | 2/3/22 | $2.68 | $2.57 | -$88.00 |
Bought Syrah
| Bought 1,000 at $1.40 | 2/3/22 | $1.30 | $1.30 | Steady |
Bought St Barbara
| Bought 2,000 at $1.52 | 8/3/2022 | $1.60 | $1.50 | -$200.00 |
|
|
|
|
|
|
Start 2/1/2022 $50,000.00 | Open balance $56,204.40 |
| |
| $56,204.40 |
| Gains/losses week +$56.60 |
|
|
| +$56.60 |
| Current total $56,261.00 |
|
|
| $56,261.00 |
Brokerage at $30 per round turn added when sold. | Buy/ close prices and Margin $30,394.00 |
|
|
| $30,394.00 |
Prices from Tuesday night or 6am for US positions. | Cash available $25,580.00 |
|
|
| $25,580.00
|
Disclaimer: The commentary and trading positions taken are for educational purposes only and are not an invitation to trade. Trading is risky and individuals should seek Professional counsel before making any financial decisions. Many thanks to Incredible Charts.com software for most of the charts used in the column.
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