The local market briefly dipped below the recent low in what could be seen as a false break pattern followed by two strong days up. Seasonally July is one of the stronger months of the year.
The US S@P 500 index has bounced off a support zone for now.
The price of gold is only just hanging onto support around $1900 levels.
Goodman Group looks to be posturing for another move higher.
IPD Group looks to be continuing the strong trend up.
SRG Global has again bounced off the up trend line.
Can Elders find a low close to previous lows?
Impedimed looks to be forming a long basing pattern.
The Coppock is a longer term trend indicator better known for forecasting lows than highs and has just turned up but is yet to cross into positive territory which would be seen as even more bullish.
This graphic shows the likelihood of a coming US recession.
This table shows how far US markets can move after any recession is over. Their small cap index generates higher returns than the large caps on average.
Disclaimer: The commentary on different charts is for general information purposes 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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