The local market on a weekly time frame shows how sturdy the 7,000 point support zone is for now. With a large resource sector the local market is holding up quite well compared to the US tech heavy indexes. We remain open to possible quick short-term trades in the index.
A longer-term monthly chart of the local index shows current levels still above the previous two peaks.
Both the Nasdaq stock and futures markets have seen a rally later in the day on several occasions as buyers come into the market. This shows some strength from the buyers for the moment.
A longer-term chart of the Nasdaq 100 shows a 50 per cent retracement of the large range from 2009 would take the market back to pre-pandemic levels and the lower edge of the up trending channel.
Elders has moved above the recent congestion pattern.
This chart of the Dow Jones Index from the Stockcharts platform shows the declines and the rallies of the 1929 to 1932 bear market and warns us that not every rally will bring fresh highs. With central banks around the world tightening monetary policy there will be no added stimulus to prop things up for a while. It could be a rough ride.
This table shows the returns of different assets during rate hiking cycles in the US. With a lot of commodities already at high prices it will be interesting to see how much petrol is left in that tank.
With the newly elected government big on improving childcare G8 Education could be one to watch.
Brainchip continues to trade with a lot of volatility.
New Hope has been on a strong run.
Worley looks to be approaching an area of resistance.
Santos looks to be building towards a possible break higher on the daily chart.
Table
Security | Units bought (sold) | Date | Open price/ From last table | Current/close | $ gain/loss |
Bought Whitehaven Coal c/f at $2.76 | Bought 700 at $2.70 | 23/12/2021 | $5.20 | $5.20 | Steady |
Bought Brainchip Holdings | Bought 500 at 85c | 5/1/2022 | $1.14 | $1.15 | +$5.00
|
Bought Computershare | Bought 120 at $20.50 | 5/1/2022 | $24.29 | $23.91 | -$45.60 |
Bought Red5
| Bought 3,000 at 29.5c | 9/2/2022 | 35 | 38c | +$90.00 |
Bought CSL
| Bought 12 at $260.00 | 16/2/2022 | $274.00 | $274.00 | Steady |
Bought Syrah
| Bought 1,000 at $1.40 | 2/3/22 | $1.76 | $1.82 | +$60.00 |
Bought St Barbara
| Bought 2,000 at $1.52 | 8/3/2022 | $1.15 | $1.22 | +$140.00 |
Bought Resolute
| Bought 8,000 at 36c | 13/4/2022 | 29c | 31c | +$160.00 |
Bought Judo
| Bought 1,000 at $1.70 | 20/4/2022 | $1.80 | $1.75 | -$50.00 |
Bought Flight Centre
| Bought 100 at $21.80 | 20/4/2022 | $20.24 | $20.11 | -$13.00 |
Bought NDQ ETF
| Bought 50 at $29.00 | 27/4/2022 | $28.11 | $26.62 | -$74.50 |
Bought Endeavour
| Bought 250 at $7.76 | 27/4/2022 | $7.89 | $7.52 | -$92.50 |
Bought Stavely
| Bought 6000 at 40c | 27/4/2022 | 36c | 35c | -$60.00 |
Bought Kelsian
| Bought 300 at $7.90 | 4/5/2022 | $7.70 | $7.50 | -$60.00 |
Bought Brainchip
| Bought 2,000 at $1.00 | 5/5/2022 | $1.14 | $1.15 | +$20.00 |
Bought BBUS ETF
| Bought 150 at $9.70 | 5/5/2022 | $11.22 | $11.88 | +$99.00
|
Bought GGUS
| Bought 100 at $25.20 | 13/5/2022 | $26.40 | $24.67 | -$173.00 |
Bought Magellan
| Bought 150 at $15.60 | 13/5/2022 | $14.56 | $14.70 | +$21.00 |
Bought Whitehaven
| Bought 400 at $5.10 | 17/5/2022 | $5.20 | $5.20 | Steady |
Bought Lynas
| Bought 300 at $9.20 | 17/5/2022 | $9.42 | $9.54 | +$36.00 |
|
|
|
|
|
|
Start 2/1/2022 $50,000.00 | Open balance $57,041.98 |
| |
| $57,041.98 |
| Gains/losses week +$62.40 |
|
|
| +$62.40 |
| Current total $57,104.38 |
|
|
| $57,104.38 |
Brokerage at $30 per round turn added when sold. | Buy/ close prices and Margin $45,226.20 |
|
|
| $45,226.20 |
Prices from Tuesday night or 6am for US positions. | Cash available $21,408.00 |
|
|
| $21,048.00
|
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.
To order photos from this page click here
