Sunday, 20 November 2011

ASX 200 set to open lower on Monday

The ASX 200 finished last week's after hours trading at 4171, down from Friday's ASX close of 4177.

S&P 500 my desert island chart

I have one and only one printed chart taped up on the wall near my PC, the S&P 500, and have had much the same chart up since 2008, with the same trend line angles, only occasionally updated for market action. In March 2009 the leftmost trend line on the following chart allowed me to close my shorts only a couple of days before the bottom. Just a few weeks ago the turn lower from the rightmost trend line was a low risk bearish edge. So far, so good.