Tuesday, 14 July 2015

ASX 200 trend is down, but could rally to 5630 before next surge lower

Daily chart shows clearly that the trend is down. Includes after hours trade. A rally to test trend line resistance around 5630 would be of great interest, but may or may not happen.



4 hour chart Elliott Wave count defines the trend as down, until/unless we see 5 waves up.



S&P 500 bullish and bearish channels illustrated, but trend is down until it's not (updated)

Daily chart illustrates bullish and bearish channels for the S&P 500.



4 hour chart Elliott Wave count defines the trend as down until/unless we see 5 waves up.



Another daily chart trend line which may prove to have further significance is shown below.


Hang Seng near resistance at underside of recent down trend channel

Daily chart shows the Hang Seng is near resistance at the underside of the recent down trend channel. There is a lot of resistance overhead before any new up trend can be proclaimed. Failing that, favour the downside and/or lots of choppiness.


Gold stuck between trend line resistance and dual trend line support