Tuesday, 9 September 2014

AAPL Apple chart shows three indications that a big top is in

Weekly chart for AAPL shows three indications that a big top is in, namely (1) weekly key reversal bar last week (2) false break above the 2012 high and (3) testing trend channel resistance.

ASX 200 weekly chart shows bearish key reversal at bearish wedge trend line resistance

Weekly chart including after hours trade.

S&P 500 still struggling with round number resistance, big picture top is in or near

Daily chart shows the S&P 500 is still struggling with round number resistance around the 2000 mark. Strong markets typically burst through round number resistance and leave it behind.

Zooming out, the Dow best illustrates the long term position of US stocks. It is completing a giant bearish megaphone. The pattern suggests that the peak is in or near, and will be followed by a decline to below the 2009 low.

German DAX testing key dual trend line resistance

Gold testing short term trend channel support

AUD/USD testing range support

EUR/USD testing trend channel support