Friday, 16 September 2011

ASX 200 set to open higher

Daily candlestick chart shown below, including after hours trading, currently at 4131, up from Thursday's close at 4072. The market is testing the steepest down trend line. A break upwards through that line would indicate a likely continuation of the current broadly sideways trading, before the next period of directional/trending trading.

Gold breaks trend line and 40 day MA

Daily candlestick chart shown below. On most occasions this year, downward breaks of the 40 day moving average have been short lived and a good time to buy, on any sign of a rebound.

S&P 500 breaks trend line

Daily candlestick chart shown below. Trend line break indicates a likely continuation of the current broadly sideways trading, before the next period of directional/trending trading