Saturday, 21 January 2012

S&P 500 indicators flag buy for investors

The long term monthly candlestick chart of the S&P 500 is showing a new up trend, with momentum (MACDH) close to flipping to positive.

NASDAQ 100 makes highest weekly close since 2001

I have zoomed in to the past 5 years, and shown a line chart of weekly closes for clarity.

EUR/USD weekly MACDH showing bullish divergence

The bullish MACDH divergence on the weekly chart, as well as the long green candle this week, support the bullish view indicated by the daily chart patterns.

ASX 200 lagging but beginning to trend up

The ASX 200 is beginning to trend up on the daily chart, but is lagging the US indexes, and will likely continue to lag while the AUD/USD continues to rise. If the ASX 200 was priced in US dollars it would likely track the US indexes very closely.

AUD/USD breaks upwards from triangle