The local market is down today and looks to be struggling to move above the 8,600 level for now.
The US based S@P 500 index just completed a cross of the 50 day moving average above the 200 day moving average, commonly called a Golden Cross. There have been 38 Golden Crosses over the past 75 years with a median one year return of around 13 per cent. The signal was profitable 81 percent of the time one year later. Another positive indicator is that since 1988 when May and June close higher shares are on average up 14.8 per cent over one year and the signal was positive 86 per cent of the time. Buyer be aware and doing your own research is a must. This is a chart of the SPY ETF shows a fresh all-time high.
Regal Partners has made a nice higher low and is possibly indicating a further leg higher. Time will tell.
This ASX listed ETF of US small cap stocks is forming an interesting pattern.
Pro Medicus has cracked the $300 barrier. One analyst has put a possible long-term target of $1,000 on the stock.
Helia Group’s shares were sold down after their latest update. Domino’s Pizza shares also copped a bettering from investors.
This copper ETF looks to be heading higher after some sideways consolidation.
Australian Ethical Investment could be posturing for another move higher.
Downer looks to be consolidating the recent move higher.
A few analysts predict the listed real estate sector could get a boost from lower interest rates. Scentre Group has been in a sideways consolidation for a while. Is the next move up?
This seasonal chart of the gold price from Seasonax shows we could have a nice rally in price for the next few weeks and finish the year higher. We will see in time how that pans out.
This graph from Jason Perz at All Star Charts shows how different commodities can follow each other in a commodity bull market.
This comes from the blokes at Long-Term Mindset.
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. Cheers Charlie.
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