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  • Charlie's Charts

Charlie’s Charts 28th October 2020

The local market has stumbled below recent support and we took out some portfolio insurance by selling 5 ASX 200 cfd’s yesterday. Uncertainty over the US election and climbing Covid cases worldwide looks to be causing some global market weakness. Gold on a weekly chart looks to be forming a bearish flag type pattern. Watching. A few stocks in the educational portfolio are getting close to breaking support and stop loss levels including Evolution, Resimac, Costa Group and Carsales. Flight Centre has broken support and we sold out today. Nickel Mines is the portfolio’s largest holding and after a good […]

Oct 28, 2020

  • Charlie's Charts

Charlie’s Charts 21st October 2020

The local market is trading in a very tight range after moving slightly above the previous longer-term congestion zone. Perhaps world markets are waiting on some clearer space that may come after the US election. The US S@P 500 index is forming some divergence on a weekly chart which can be a warning of lower prices to come. The passing of time will tell us which way this pattern resolves. Chart and commentary from Colin Twiggs. The S@P 500 index on a daily chart showing some divergence with the MACD indicator. Nickel Mines has been moving up swiftly after announcing […]

Oct 21, 2020

  • Charlie's Charts

Charlie’s Charts 14th October 2020

The local market briefly made a new four-month high yesterday after a strong rally off the lows. It remains to be seen if any retracement is short and sweet or a more protracted move. It could be argued that the price of gold is forming a bearish flag type pattern. With uncertainty over how the US election pans out volatility could increase in markets until the dust is settled. Tyro looks to have made a decisive break higher. Smartgroup is forming an interesting pattern. Collins Food looks to be posturing for a move higher if it can overcome the resistance […]

Oct 14, 2020

  • Charlie's Charts

Charlie’s Charts 8th October 2020

The local market has been boosted somewhat by the Federal Budget’s spending spree as it remains to be seen if that alone can lift consumer confidence enough to open people’s wallets and spend some of the recently accumulated savings. The index has again moved up from the lows of the sideways range with punters placing their bets on whether it will finally break out to the upside. The reinvestment of dividends makes a big difference over time as the chart below shows with the movement of the index itself rising 74 per cent against the accumulation index where dividends are […]

Oct 8, 2020

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