Thursday, 3 July 2014

Chart of Australian Real Housing Price Index for 1880 to 2013

Chart taken from (and a plug for) Bubble Economics by Paul Egan and Philip Soos, a recently published 810 page history and analysis of Australian land speculation. Available for free from

ASX 200 testing trend line drawn from April & May peaks

Daily chart shows the ASX 200 testing the trend line drawn from the April and May peaks.

Weekly chart next. In recent weeks I have repeatedly proclaimed the up trend from the 2012 low to be finished, based on weekly closes below the illustrated trend line. In my last ASX 200 post I pondered whether the next trend would be down, up, or sideways. The market is currently trading above the line. If (if) it stays above at the end of the week, an immediate new down trend would be ruled out, and the odds would favour either more choppy broadly sideways action, or a new up trend.

Charts include all sessions trade through to the current European session.

AUD/USD shows false break above April high, slices lower through multiple trend line supports