Brainchip Chart, page-708

Hi Folks

Looks like BRN only needs one update a week as it's just travelling along another lower waterline. Your can see on the chart there have been three.

I am away next week, so thought it was about time for another look at my bananas to apples comparison chart. Unsurprisingly it has been going pretty well for a number of months. It's just a chart like BRN with a pump cycle, that where game changing news is expected and people a think that someone knows something and then as no news materialises the inevitable down cycle of behaviour in the SP plays out. It's not rocket science just market behaviour.

For months it had been saying stay away until at least July. Well July's has arrived and it still indicates protected sideways movement, with the usual spikes upwards and return to the waterline accompanied by the occasional dip and dive, and then followed by some further downside movement.

It sort of makes sense with my traditional charting technique showing on the chart that waterline behaviour.

We have a quarterly report due in a few weeks time.

Some interesting behaviour further down the track with the comparison chart, but that's far too early to call know.

Finally there is the ASX300 index rebalance in Sep.

Just the way I deal with the charts so that I am not surprised by what plays out. As always DYOR

cheers Lies