Right now I know that there is a feeling amongst some of us that the market is a little toppy - the bull certainly seemed to run today but that doesn't mean that it won't smash into a brick wall tomorrow.
Anyway I thought it might be helpful to step back a bit and just have a look at the simplest of indicators. To that end I have had a look at the DJIA, XJO and BHP with nothing but the 50, 100 and 200 simple moving averages overlayed. So far the picture looks pretty good. I've done the same with the big banks and come up with similar results - I'll post them tomorrow if people find this helpful.
In looking at the charts below
YELLOW is the 50 SMA.
RED is the 100 SMA.
BLUE is the 200 SMA.
DJIA - weeklies
DJIA - dailies
XJO - weeklies
XJO - dailies
BHP - weeklies
BHP - dailies
cheers
Lindfield
