Saturday, 1 October 2011

ASX 200 set to open lower on Monday

Log scale weekly candlestick chart shown below, including after hours trading, which finished last week at 3910ish, well down from Friday's ASX 200 close of 4009. The mid channel trend line may provide temporary support going forward, but ultimately the ASX 200 could target the bottom trend line, currently around 2500 (not shown on this chart), and heading lower all the time.

EUR/USD continues lower

Weekly candlestick chart shown below. The EUR/USD continues to trend lower since it crossed below the 40 week moving average. The percentage magnitudes of two previous declines below the 40 week moving average are illustrated here. If (if!) the magnitude of the current decline is to match the previous two, it has a long way to go.

AUD/USD heads lower

Weekly candlestick chart shown below. The market is testing the 2008 highs and the late 2010 lows.

S&P 500 continues to trend down

Weekly candlestick chart shown below.


Gold long term trend channel

Log scale weekly candlestick chart shown.

Silver bull market likely finished

Log scale monthly candlestick chart shown. Completed throw over of top trend channel line indicates that trend is likely finished.