The local index, like many around the globe, is sitting near support and resistance zones. Everyone is wondering “Which way will it go?” After previously bouncing off the long term 200 day moving average late in 2025 and again in February 2026 the index has now closed below that average for the last 15 days.
This monthly chart of the local market shows that we were above the trend channel going back to the 2009 lows. Most retracements have fallen below the midline at some point. Can it maintain the strength and tag the midline or do we get a full-blown sell-off?
The monthly chart of the US S@P 500 index shows a similar trend channel from the 2009 lows growing at a slightly faster pace. Price has hit the upper line and a retracement to the midline would see the index retreat to around the 5700 mark, around 14 percent lower.
The locally listed Fang ETF of technology stocks has made a higher low at the time of writing. This could be the start of a bottoming pattern if Middle East hostilities settle down and peace plans come to fruition.
Gold stocks took a hammering when war first broke out with many retreating below obvious support zones like this chart of Westgold shows. Will that prove to be a false break type of pattern or will it prove to become stubborn resistance?
Pipeline and infrastructure stock APA Group moved above a resistance zone after making another higher low.
This Uranium ETF has retraced back to a support zone. There are reports of big US listed technology companies banding together to get a new plant built to help power massive data centres.
US inflation came in two distinct waves in the 1970’s, will the similarities continue over the next few years? It might depend on how long the current shock to fuel supplies lasts and what unintended consequences follow.
This chart shows previous oil price spikes and periods of recession in the US.
Australia’s average tax rate differs among age groups and this graph comes from a Mark LaMonica article “3 ways to diffuse intergenerational anger” on the Firstlinks website.
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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