The local market closed stronger again today and has held the previous support level on the weekly chart.
The US based Nasdaq index has bounced nicely from previous support. Can the run continue as the number of conflicts across the globe increase.
The price of gold looks to have found support in the low $1800’s again.
REA Group has briefly made a new yearly high.
Uranium stock Paladin looks to be making a nice ABC continuation pattern.
Northern Star looks to have found a base at current levels.
If global bonds end the year in the red for the third consecutive time the chances of a decent rally would be good according to historical trends and data.
Commodity equities outperformed during the 1970’s inflationary era.
This shows that US value stocks outperformed the general market way back in the 1970’s inflationary era.
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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