The local market has fallen heavily today after two of days of sideways action. Will a 61.8 retracement stop the slide or will the index retest the June low?
A monthly chart of the local index showing the steep falls roughly 20 years apart and the slow crawl back up from the 2009 lows.
The price of gold is testing support around the $1700 mark. A drop below here could be steep.
Karoon could be forming a rounding bottom type pattern.
Life360 is testing the support zone.
JB Hi-Fi may well test recent lows.
High gas prices have helped Woodside.
Lithium producer Allkem has plans to double production.
BHP has formed a lower high so perhaps a test of recent lows.
Lovisa could be forming a double top type pattern, or not.
This chart suggests we may be heading for a lower market and recession in the US.
Table
Security | Units bought (sold) | Date | Open price/ From last table | Current/close | $ gain/loss |
Bought Whitehaven Coal c/f at $2.76 | Bought 300 at $2.70 | 23/12/2021 | $8.06 | $8.80 | +$222.00 |
Bought Computershare | Bought 120 at $20.50 | 5/1/2022 | $24.69 | $24.10 | +$70.80 |
Bought CSL
| Bought 12 at $260.00 | 16/2/2022 | $294.00 | $294.00 | Steady |
Bought Brainchip
| Bought 2,000 at 80c | 16/6/2022 | 92c | 90c | -$40.00 |
Bought Clinuvel
| Bought 200 at $16.00 | 27/6/2022 | $17.45 | $19.60 | +$430.00 |
Bought Aristocrat Leisure | Bought 100 at $35.60 | 6/7/2022 | $35.36 | $34.55 | -$81.00 |
Bought Life360
| Bought 500 at $3.50 | 6/7/2022 | $4.93 | $4.86 | -$35.00 |
Bought Whitehaven Coal | Bought 300 at $6.00 | 18/7/2022 | $8.06 | $8.80 | +$222.00 |
Bought Australian Vanadium | Bought 25,000 at 0.05 | 10/8/2022 | 0.04c | .04c | Steady |
Bought Stavely Minerals | Bought 10,000 at 18c | 10/8/2022 | 16c | 16c | Steady |
Bought BBUS etf
| Bought 200 at $9.10 | 25/8/2022 | $9.64 | $10.23 | +$118.00 |
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Start 2/1/2022 $50,000.00 | Open balance $62,462.65 |
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| $62,462.65 |
| Gains/losses week +$906.80 |
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| +$906.80 |
| Current total $62,462.65 |
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| $63,369.45 |
Brokerage at $30 per round turn added when sold. | Buy/ close prices and Margin $28,506.00 |
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| $28,506.00 |
Prices from Tuesday night or 6am for US positions. | Cash available $32,904.40 |
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| $32,904.40
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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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