Business
  • Charlie's Charts

Charlie’s Charts 18th May 2022

After a bounce from the lows the local market continues to gain some traction as US markets rally and news comes out that China may ease some Covid restrictions. The US Nasdaq 100 index put in a spike type low last week which briefly touched the 50 per cent retracement of the range from the 2020 lows and could be seen as a positive sign. It could be a relief rally or the start of something bigger, only time will tell. The price of gold is coming under pressure. We added some of the GGUS ETF to try and take […]

May 18, 2022

  • Charlie's Charts

Charlie’s Charts 11th May 2022

The local market had a big move down to touch the bottom of the large sideways congestion that has been in place for a year. The decent rebound from the low and higher close shows some strength from the buyers. A four-hour chart of the local index and the brief excursion below the sideways pattern. Looking at a monthly log scale chart of the Nasdaq index we see the index moving along at a fast rate for some time and now it seems that has come to an end. This index declined 80 per cent from the 2000 peak and […]

May 11, 2022

  • Charlie's Charts

Charlie’s Charts 4th May 2022

Sell in May and go away looks to have started a month early in US markets with the tech heavy Nasdaq down 24 per cent at the lowest point so far and is just resting on the 38 per cent Fibonacci retracement zone. A correction was inevitable at some point with the average yearly gains running at more than 50 per cent since the 2020 lows. Will April showers bring May flowers? A monthly chart of the Nasdaq shows the Fibonacci retracement zones for the ranges from the 2020 and 2009 lows. This weekly chart of the local index shows […]

May 4, 2022

  • Charlie's Charts

Charlie’s Charts 27th April 2022

The local market has dropped by more than 3 per cent this week on concerns over Chinese growth and interest rates and has retreated for the third time from the 7,600 point resistance zone. The local market from a wider perspective shows price is again butting up against the upper trend line. The US tech heavy Nasdaq index is flirting with recent lows. The locally listed NDQ ETF has made a slightly higher low and we bought a small and speculative parcel for the educational portfolio. We sold some of our Whitehaven Coal parcel after it came off the highs […]

Apr 27, 2022

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