Sunday, 1 February 2015

ASX 200 after hours trade closed last week below dual trend line resistance

Daily chart shows that ASX 200 after hours trade finished last week below dual trend line resistance.



Monthly chart suggests that last week's rally could be a kiss goodbye to the trend line drawn from the 2007 and 2014 peaks. The Elliott Wave count suggest that a decline to below the 2009 low has begun.


S&P 500 and Dow testing short term support, S&P turning lower at top of two trend channels

Daily chart of the Dow shows it testing trend channel support. All charts in this post include after hours trade.


Daily chart of the S&P 500 shows it testing trend line support.



Weekly chart of the S&P shows it turning lower at the top of the trend channel formed from the late 2011 low.



Monthly chart of the S&P shows it turning lower from the top of a longer term channel, formed from lows in the early 90s. Also shown is the trend channel formed from the 2009 low... the market is close to completing a bearish false upside break from that channel.


EURO STOXX 50 turning lower at dual trend channel resistance

Daily chart shows the EUR STOXX 50 index turning lower at dual trend channel resistance. The topmost line is the upper line of the channel formed from the 2009 low. Charts include after hours trade.



Monthly chart illustrates the channel formed from the 2009. I haven't shown the Elliott Wave count, perhaps in a future post, but over the next couple of years I expect to see a decline to well below the 2009 low.


Hang Seng turns lower from dual trend channel resistance, 60%+ decline still on the cards

Daily chart shows the Hang Seng turned lower from dual trend channel resistance. Charts include after hours trade.



Weekly chart shows the big picture Elliott Wave count, calling for a decline to below the 2008 low.


AUD/USD retesting trend lines drawn from 2008 and 2009 highs


EUR/USD approaching dual long term trend line support around 1.06 to 1.08


Gold testing resistance around mid channel of decline from 2011 high


Silver rallying to retest underside of 20 year old up trend channel?