Saturday, 13 October 2012

S&P 500 and ASX 200 trending up, still

Apologies in advance for posting only two charts tonight. I've no time this weekend for more.

The S&P 500 is close to a moment of truth. For the up trend to remain intact, it needs to rally from nearby current levels. We'll see.

The ASX 200 up trend looks stronger, but that is simply a function of AUD/USD weakness in recent weeks. As the S&P 500 goes, so will go the ASX 200. In any case, so long as the market stays above the small Cup and Handle breakout level, the up trend is solid.