Thursday, 12 April 2012

S&P 500 tests support zone

The charting evidence for a top on the S&P 500 was apparent in late March. Now almost two weeks later, it is time to ask, how big a top? Will the market rise to new highs from near current levels? Or has a top formed that will change the trend to down for a period of months? It's too early to answer those questions, but whether or not the market finds support near current levels in coming days will provide us with some clues.

AUD/USD breaks upwards through trend line


EUR/USD potential Head and Shoulders neckline trend line acting as support, so far

ASX 200 consolidates following turn down from resistance


Gold daily chart