Business Archives - The Courier

Charlie's Charts

Charlie’s Charts 13 November 2019

The local market continues the sideways consolidation. The US based Dow Jones Index tells a slightly different story with a recent fresh break to new highs at the start of a traditionally strong period for this market. The price of gold took a 3 per cent tumble last week on relatively weaker weekly volume. Could we see a December low closer to the breakout? The table below was sent to Charlie and was taken from an online post showing the difference between superannuation funds and the All Ordinaries total return index and the “net” gains over these different timeframes. On […]

Nov 13, 2019

Charlie's Charts

Charlie’s Charts 6th November 2019

The local market continues the sideways congestion and we were stopped out of the ASX200 cfd position with a small loss. The banking sector looks to be putting a dampener on overall market gains. The Dow Jones Industrial Index has poked up to a new high and we bought a mini futures contract. This index looks stronger than the ASX 200 and has a strong seasonal trend for this time of year. The price of gold has again had a down day where price has moved more than 1.5 per cent lower and is yet to puncture the spike low. […]

Nov 6, 2019

Charlie's Charts

Charlie’s Charts 30th October 2019

The local market has been steadily creeping up over the past week and is yet to break out of the larger 400 point sideways range. We bought 10 ASX200 cfd’s ahead of a potential breakout after a small ABC type pattern. The bigger range down today may form another higher low. Time will tell and we have our stops in place. The price of gold has also been stuck in a sideways funk. The upcoming US Federal Reserve decision on interest rates could send markets in a more defined direction. Gold miner Perseus looks to have moved out of the […]

Oct 30, 2019

Charlie's Charts

Charlie’s Charts 23rd October 2019

The US S@P 500 index is at an interesting place as we head into the traditional “Best 6 months” strategy. The weekly chart of the S@P500 shows that price could be on the cusp of a break upwards out of the current sideways pattern after a number of higher lows. Some basic statistics from the “Best 6 months” strategy show it is a time for a generally rising market over this period. How best to take advantage of that seasonal tendency depends on the trader, be it individual stocks, ETF,s or geared derivatives. A chart showing the last few years […]

Oct 23, 2019