Saturday, 31 March 2012

Evidence aplenty that the S&P 500 has made a top

Below are four charts, four pieces of evidence that the S&P 500 has made a top.

Weekly chart showing the market rebounding lower from the top of a trend channel or trading range.


Daily chart showing the market has turned down at the top line of a wedge pattern.


Daily chart showing the market turning lower from the top of a trend channel.


Hourly chart showing 5 waves down, which defines the trend as down according to Elliott Wave theory. From little things, big things grow, sometimes.

ASX 200 bumps up against resistance zone

AUD/USD daily chart

EUR/USD daily chart

Gold daily and weekly charts

Daily.


Weekly.

Silver daily chart

Canberra and Queanbeyan housing stock on market to 31 March 2012

There are now 20% more properties For Sale than a year ago, and almost 50% more Rentals available than a year ago. The number of rentals available looks to have bottomed just as it often does in March or April.

If you want a deeper examination of the Canberra property market, I recommend visiting blogger Capital Appreciation's Canberra House Prices site (www.canberrahouseprices.com).