The local market has retraced back to levels first seen in early August and is now likely in a 400 point sideways congestion pattern. With US markets a bit edgy of late the end of year rally may not appear. Time will tell.
A normal 20 per cent correction in the gold price would see it still within the upwards sloping long term trend channel.
The US market looks to be taking a breather and is still some way from making a lower high and lower low on the weekly chart.
Navigator Global Investments has had a nice leg up since clearing the resistance zone and now looks to be consolidating that move.
4D Medical ran into a resistance level after the fast run up and has given back 30 per cent of that move. Will it find some support near current levels?
Cogstate is one of a few companies holding onto recent gains.
After breaking out of the long sideways pattern Chalice Mining has moved below the breakout zone. Can it rebound?
Droneshield has now given up around 70 per cent of the recent rally.
Copper producer Sandfire looks to be consolidating the recent move up.
Whitehaven Coal looks to be posturing for a further move up.
November is the start of the seasonally “Best Six Months” of the year strategy with a historic 77 per cent success rate being no guarantee it will perform this year.
An interesting view of how the broader US market has performed during previous rate cutting cycles.
This little piece of information puts into some perspective just how big the US$5trillion market cap of Nvidia is.
Interesting to see the price of iron ore has a seasonal trend.
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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