The local market closed the year down around 5 per cent and looks to be in a large sideways pattern.
Whitehaven Coal was a big gainer on the local market last year.
The S@P 500 index in the US still looks to be moving down.
The third year in the US election cycle is generally a positive one.
On the other side of the coin the second year down when it happens has seen bigger losses that the first year down.
The end of a lot of previous rate hike cycles ended in some tears for investors.
Red5 looks to be moving toward the next support/resistance zone.
On the daily chart Pinnacle has moved above the trend line.
On a weekly chart Pinnacle is still in a sideways pattern.
Clinuvel looks set to break above the resistance zone.
Could this be a new trend up and a higher low for REA Group.
Disclaimer: The commentary on different stock charts is for general information only and is 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.
Monitor, measure, manage and maximise… Cheers Charlie.
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