Friday, 7 October 2011

S&P 500 parallel trend lines

Daily candlestick chart. The illustrated trend line angle appears significant. If that apparent significance continues, the market should struggle to breach 1180, certainly on a closing basis. Let's see.

ASX 200 set to open higher

Daily candlestick chart shown below, including after hours trading, currently at 4125, up from Thursday's ASX 200 close of 4070. The trend is down on the weekly and monthly charts, but no longer clear the daily chart.