by Murray Dawes on March 26, 2010
[Ed note: This article was first sent to Slipstream Trader members on Friday, 19th March 2010. For more information on joining Slipstream Trader please click here].
Currently most charts are looking fairly positive and stable at first glance. If we have a look at US markets it is clear that the daily charts seem to be in strong uptrend with new highs being achieved in the index for this bull move. Moving averages are all positive and by default MACD’s look healthy.
So why worry? Well if you look under the bonnet at the market internals it sends a very different picture. In most of the trading sessions for the past 4 weeks the US markets have been trading far below their usual volume for this time of year. As Goldman Sachs JB Were mentioned during the week, the usual volumes for this time of the year are about 1.2-1.5 billion shares. Currently we have seen 9 of the past 18 days trade under 1 billion shares which shows quite clearly that there isn’t that much conviction in the current rally.
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by Shae Smith on October 28, 2009
The S&P/ASX200 closed down again yesterday to 4,753.50, a 1.59% drop. Again, the materials sector had a weak performance while other declines have been linked to profit taking by investors.
The Dow Jones Industrial Average closed higher, at 9,882.17, a 14 point increase. The Dow zigzagged overnight with unexpected reports on consumer confidence falling low than expected to 47.7. Analysts in the US had anticipated the reading to be 53.1. Follow this story here.
In Europe, the FTSE finished the day up, by 9 points to 5,200.97. A positive start to the US market helped drive the FTSE to close higher. However, underperforming banks in the UK still continue to drag the index down.
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by Shae Smith on October 27, 2009
The S&P/ASX200 closed at 4,830.30 down by 29 points. The materials sector had a weak performance yesterday, and a further decline is expected this morning on the back of the poor performance in the US overnight.
The Dow Jones Industrial Average closed at 9,867.96, a 104 point drop. Bank of America [NYSE: BAC] led the decline. BAC are trying to raise capital to repay the federal bailout but disagree on how much is actually needed to satisfy the regulators. Find out more about this story here:
In Europe the FTSE finished lower by 50 points to 5,191.74. The index dropped based on a weak wall street.
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by Gabriel Andre on October 2, 2009
The index lost 2% yesterday (early morning today for Australian time zone) and closed at 9,509.28 points. The recent high has been posted at 9,918 points last week (point F). The current level is 4.12% lower than this peak.
The weekly chart suggests a further correction. First, the recent price action failed to breakout above a resistance line (horizontal blue line) that was previously a support line. Let’s see this in details. The initial point was a high posted at 9,903 points in November 2003 (point A). Several months later, in 2004, the level around 9,900 points was a support area where several bounced were generated (points B, C and D).
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by Kris Sayce on September 28, 2009
Today we’re putting the final touches to the September issue of Australian Small Cap Investigator.
Seeing as the month of September is nearly finished, we’ve got to get our skates on to make sure it’s in subscriber’s inboxes by Wednesday.
If everything goes according to plan, I’m hoping to have it all laid out by this afternoon so we can push the magic button tomorrow to get it sent out.
So today’s Money Morning will be on the brief side.
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