Wednesday, 14 September 2011

S&P 500 still trending down

Daily candlestick chart shown below, including after hours trade.

ASX 200 set to open slightly higher

Daily candlestick chart shown below, including after hours trading, currently at 4081ish, slightly up on Tuesday's ASX 200 close of 4073.

Note the increasing steepness of the down trend lines as the months have passed since the April peak. This indicates that the market is becoming increasingly weak, and raises the odds that the steepest plunge for the year lies ahead.

AUD/USD kiss goodbye

Weekly candlestick chart shown below.

The kiss goodbye to the up trend line that I've been banging on about is looking increasingly good odds now, as the market has pushed lower this week.