loader image

Business
  • Charlie's Charts

Charlie’s Charts 22nd May 2025

The local market looks to be stalling at these levels. The SPY ETF of US stocks has moved below the up-trend line and out of a bearish rising wedge pattern last night after a poor US T bond auction result say analysts. Qantas is close to all-time highs. The Commonwealth Bank is still rising, how far go it go before gravity takes hold? Temple and Webster had a nice bounce off the support and resistance zone. Electro Optic Systems has moved above the down trend line. With the lithium price near four-year lows Pilbara Minerals looks vulnerable if the bearish […]

May 22, 2025

  • Charlie's Charts

Charlie’s Charts 15th May 2025

The local index shows the daily range consolidating at these levels. After a fast move up from the lows a bit of a pullback would be normal. US Stock markets gapped up on the news that the US and China would have a pause on tariffs for 90 days. The QQQ ETF has retraced around 75 per cent of the recent losses. The gold price fell on news of a truce on tariffs between the US and China and has also fallen below an area of support. Next major support comes in near the US$3,000 an ounce mark. The Brent […]

May 15, 2025

  • Charlie's Charts

Charlie’s Charts 8th May 2025

The local market looks to have moved above a major resistance zone and is marking time the last couple of days. The US listed SPY ETF of the top 500 stocks is taking a breather after a quick 16 per cent move up from the lows. Some analysts reckon any economic damage from the imposition of tariffs will take some time to filter through to the bottom line. How The Strazza Letter saw the recent lows as a possible turning point. Could coal stocks make a bit of a comeback on increasing steel demand from India?   Whitehaven Coal is […]

May 8, 2025

  • Charlie's Charts

Charlie’s Charts 1st May 2025

Good morning. The local market ticked up late yesterday (Wednesday 30th) after the latest inflation figures were released with underlying annual inflation coming in at 2.9 per cent and is very close to moving back above the 200 day moving average. A boost from Microsoft and Meta’s latest positive updates could see the local index up nicely today. On the monthly chart the local index had it’s 6th best monthly turnaround ever according to some. In the US overnight prices were boosted from Microsoft and Meta’s latest bullish updates. The non-farm payroll numbers due out Friday night our time will […]

May 1, 2025

Loading