The local market had dipped around 1 per cent by lunchtime today on the back of a lower US market overnight.
A wider view of the local market shows prices still above the trend line from the 2009 lows.
The US market closed lower last night on the back of comments from the US Federal Reserve Bank chairman about interest rates. Prices are testing the short-term uptrend.
Cochlear looks to be in a large sideways pattern.
The last time the Newcastle price of coal was around current levels the price of Whitehaven was about $3.50.
Pact Group could be forming a bottom.
With the gold price taking a hit after a speech from the Federal Reserve chair on interest rates Aussie gold producers could take a hit. Will Evolution see $2 again?
A 35 per cent lift in the price on takeover talk saw the price of Invocare back to 2016 levels.
Data#3 is holding at record prices for now.
This is one analyst view of the bigger picture of where the current market sits. Perhaps a long way to go before a real Bear sets in, time will tell.
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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