Saturday, 2 November 2013

Long term charts for S&P 500, ASX/SPI 200, Nikkei, Gold, Silver, AUD/USD, EUR/USD, GBP/USD, USD/JPY

I'm heading off on holiday early next week, for ten days of cruising the South Pacific, and no charting. So this weekend I'm not looking for new trades, just reviewing long term charts, as is my habit when a new month is beginning.

S&P 500 weekly chart is showing a doji at trend channel resistance. I favour the downside here (boy who cried wolf on this market, I am), but the market will do as it pleases.

ASX/SPI 200 weekly chart is also showing a doji at trend line resistance, in this case a mid channel trend line.

Nikkei monthly chart shows a long term down trend

Nikkei weekly chart shows a bearish megaphone, which fits with the bearish monthly chart view

Gold monthly chart shows the market flirting with a decisive move lower through the trend line that has supported close to 100% of its entire bull market

Gold weekly chart zooms in. The lowest line is the same as the up trend line on the monthly chart.... rejected this past week

Silver weekly chart shows the market channeling lower. The blue descending triangle offers a measured target of 1360 or so.

AUD/USD weekly chart shows possible support just below 94, but if the market breaks that level, look out below! The triangle offers a measured target of low 80s.

EUR/USD weekly chart shows the market turning lower at the top of a multi year trend channel

GBP/USD weekly chart shows the market closing the week below the multi year triangle, again. Or is it locked in a trend channel? Either way I favour the downside here.

USD/JPY monthly chart shows stiff resistance around 102

USD/JPY weekly chart shows a triangle.... the stiff resistance on the monthly has me favouring a downside break. USD strength looks likely in other markets in coming months, but the USD/JPY may once again march to its own tune