Comments on: The Downtrend Resumes As Expected

By: vim2

vim2 — Thu, 16 Jun 2016 21:06:35 +0000

@rsotc many thanks Randy Regards Vic

By: rsotc

rsotc — Thu, 16 Jun 2016 13:56:12 +0000

In reply to vim2. @vim2 Here's my chart of the ASX 200, which I recall is your preferred index over there. Following the last update that I shared, the ASX broke down from the bearish rising wedge pattern that I had highlighted, made on last thrust up back to retest the recent highs before moving lower to hit & exceed my 5175 pullback target. With that 5175 support level taken out & no indications of a likely reversal in the charts that I can see at this time, the next likely stop is 5080ish level. Here's a link to that chart: http://www.screencast.com/t/v0ADlf9T

By: snp

snp — Thu, 16 Jun 2016 00:19:34 +0000

In reply to pangblood. we need more puns. it would be slick. 45 low on oil. the larger wedge pattern 3rd hit, aka the 50 dma.

By: vim2

vim2 — Wed, 15 Jun 2016 23:54:44 +0000

@rsotc Randy could you please take a look at the Australian market thanks Vic

By: pangblood

pangblood — Wed, 15 Jun 2016 20:44:11 +0000

I was expecting a stronger, and longer lasting bounce following fed announcement. But I guess weakness in the market simply can’t be avoided. Think oil was the driving factor (no pun intended); it sold off rather hard despite the bullish inventories report. I was looking for a bounce to the 50ish area for oil, do you think that possibility is out the window (and that today’s nimble move is all the bounce we’ll see for now)? Thanks Randy