G’day,
I have added a few comments, circles and lines in some charts below. For the record I am bearish in general and would not feel comfortable going Long with anything in the current short-medium term.
IMHO, it looks like the Australian Financials Index has put in a short-medium term top and may go down with everything else as well, as the US market looks like it is putting in a top as well. We all know what that does for sentiment around the world. Post-Super Tuesday (Election Day) in the US will be interesting too I suspect.
An Accurate Bull:
Nadeem Walayat at Market Oracle (Scroll down the page for relevant stock market articles).
He has been accurate since March 2009 and beyond, and is still bullish.
An Accurate Bear:
Article: Stock Bull Topping
They have been accurate since March 2009 and beyond, but are now bearish.
Any other thoughts out there?..... I’d love a good critical discussion, for or against.
Shonan Trader
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PS. For the newer HC members of our community, FYI below:
Bullish for Stocks/Commodities
- Falling US$
- Rising EURO vs. US$
- Rising Commodity Channel Index (CCI)
- Falling VIX
- XSO (Australian Small Ords Index – Often ahead of the trend)
Other Useful Links to help with some T/A Jargon:
Stochastic Oscillator (A.K.A. Stochastics. Stochs)
MACD
MACD and Stochastic Crossover
New York Advance/Decline Line
Commodity Channel Index (CCI)
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