FINANCE

Charlie’s Charts 21st August 2019

The local market is trying to recover lost ground caused by big daily falls with some sideways steps. Overall the trend remains down as price is yet to move above the lower trend line. The price of gold looks to have run into some resistance at around 50 per cent of...

Charlie’s Charts 14th August 2019

The local market has been slowly pegging back the sharp falls from the recent high and is yet to reach 50 per cent of the range down which could also be a potential resistance level. The local market is quite weak today after strong gains in the US overnight and looks...

Charlie’s Charts 7th August 2019

While the headlines screamed about billions in losses when put in perspective the local market index lost 5.4 per cent from the recent high. Over the past 3 days quite a few companies have lost ground and it remains to be seen if this correction has more in it. Let us...

Charlie’s Charts 31st July 2019

The local market has finally cracked a new all-time high 24 points higher than way back in November 2007. The accumulation index which adds the dividends received is about 68 per cent higher than the 2007 top having passed that high in September 2013. The Australian...

Charlie’s Charts 24th July 2019

The price of gold spiked on a big range day on July 1st   and has since been trading within that large range day. The price of gold has moved up 14 per cent in 28 days and a nice 25 per cent since the August 2018 lows and put a rocket under the local gold stocks....

Charlie’s Charts 18th July 2019

The local market has made a lower top and could drift lower towards the bottom of the trend channel as it has moved below the upper channel boundary in a sign of weakness. We bought 2 small gold contracts when price moved up after a reversal type candle and sold one...

Charlie’s Charts 10th July 2019

When things do not go in the right direction it is good to have a pre-determined exit point. With the [email protected] 500 trade things initially went as planned then some unexpectedly high employment numbers came out and the market turned south and we were stopped out.  The...

Charlie’s Charts 4th July 2019

The US market finally moved above a stubborn resistance zone last night and could be headed for another leg higher. We bought a position in the [email protected] 500 e-mini contract and will include it in next week’s table. With luck the Australian dollar will remain at low levels...

Charlie’s Charts 26th June 2019

It looks like a case of break through or break down for the broad based [email protected] 500 Index along with a few individual stocks which are struggling to make decisive new highs. As traders take their positions it is important to follow your trading plan and to have the exit...

Charlie’s Charts 19th June 2019

The local market is pushing towards the all-time highs reaching higher again today on the back of a stronger US market last night. The gold price has again failed to pierce the $1360 level and eager gold bulls say it is only a matter of time before heading higher....

Charlie’s Charts 12th June 2019

The local market continues to rise with the current leg up reaching fresh yearly highs and within striking distance of the all-time high set back in 2007. The Dow Jones Index in the US is off the highs and is trading in a large sieways range and may have formed a...

Charlie’s Charts 5th June 2019

The local market has held up relatively well against a falling US market over the past week. One sign of strength has been a similar range down in points and days from the last high close to previous ranges down.  Investors may seek comfort in holding nice yielding...