Sunday, 16 September 2012

S&P 500 short term vulnerable and long term bullish?

Short term vulnerable/overbought and long term bullish seems to be a common theme in the charts this weekend. But note the question mark. Last week gave me a timely reminder that anything can happen.

Daily.


Weekly.

 

ASX 200 pushing through trend line drawn from 2007 and 2011 highs

Includes after hours trade. Log scale.


DAX testing trend lines on daily and weekly

Daily. The illustrated bearish megaphone is admittedly stretched and debatable, but not so the trend line test.


Weekly.




AUD/USD testing trend lines on daily and weekly charts

Daily. 


Weekly.


EUR/USD in weekly chart down trend? Or range?

Repeating what I said last weekend "I have illustrated the down trend potential, but a continuation of the range between 1.20ish and 1.50ish is more likely unless/until the July low is broken."


I had this market nailed on the daily chart for a year or so. Given how these things come and go I wouldn't be surprised if I have no clue about it for a year or even two now!!


Gold's eleven year trend channel


Silver's ten year trend channel