Michael Gable of Novus Capital suggests a stagnant Australian market is threatening a 5% pullback, but the timing is unclear.
This week ATW’s Jerry Simmons suggests the S&P 500 remains in bullish mode above 1550 while the US dollar is looking weak.
Michael Gable of Novus Capital suggests work at 5000 may give way to a pullback for the ASX 200, with the Dow Jones also looking toppy.
This week ATW’s Jerry Simmons examines gold and suggests a break of 1310 could suggest a low is in place. The Aussie is also looking vulnerable against the yen.
The Chartist sees bullish signs in QBE’s technicals but suggests waiting for a more attractive entry point.
Michael Gable of Novus Capital suggests that having tested resistance at 5000, the ASX 200 should now see some consolidation before its next move.
This week ATW’s Jerry Simmons notes the US S&P 500 market has not technically broken out to the upside suggesting potential failure.
The Chartist is not yet convinced the Australian materials sector has reversed its downward trend.
Michael Gable of Novus Capital suggests that after last week’s wild ride, the signals are bullish but a bit more clarity is needed.
The Chartist reports no sign of a bounce on the charts for Rio Tinto, with further downside more likley.