interesting week, hard to trade. Early in week all looked down, then turn up. I think this shows that at the moment the default position of the market is positive and long. This suggests still in a bull market. As always I call what I see, not what I think.
Mower's short cuts. ASX @ 5479 (+69)As above down then up. EMA (10,20,30)DID NOT cross down so up trend still in play. MACD (just) crossed down then up. Near post GFC high. This res is strong. Many attempts failed to break. Approx 5500
FTSE @ 6651 (+109)5 up days, MACD just crossed up and trading above EMA10. Looks long/bullish here. Mid range in recent trading so has 150 points up side to top of range. Some res 6700 before that.
DAX @ 9445 (+166) Dramatic rise in week. BUT fall before that is still showing on indicators. MACD and EMA on the way up but not crossed yet. Looks long. Top of range 9700. RSI @ 51 off 40.
DOW @ 16416 (+375) 200 points off recent record high. EMA and MACD about to cross up. A critical point for me. Last 2 candles show reluctance. doji. When in doubt I call DOW long by default. That record high would see new ground. Is the market ready for that?
S&P500 @ 1865 (+48) Similar to DOW. Only 40 points off record high. Not much room to move.
CHINA A50 @ 6785 (-230) Been red all week. Looking like a steady slide. MACD crossed down, EMA yet to cross.
