I tried to find some measured moves in MQG. the two lines marked "=" were the first two I found. I also over laid the same measure on two earlier ramps.
It does look like tat measured move could spell the end of the run of MQG for the time being?
I don't use fundamentals, but I would be keen to hear what could be driving this? Is money going to MQG from the...
There are so many perma bears out there. I like to draw these trendlines to keep perspective. Even when the market seems to walk on air it's a good reminder that it could easily push all the way up there...
CBA is waaaaayyyy over valued in terms of what an aussie bank would typically trade at on P/E and much higher than the other major aus banks. BUT where to try a short? I am thinking between 104 and 106.
I've been watching these consolidation breakout expansions, see the purple lines. They are all uncanny in their similar length.
Looking for exhaustion around 142-145. But watch out for that overhead exuberance trend-line, could it make it?? APT always surprises to the upside...
Upside seems limited but 8.60 is current support.
Risk of iron ore prices and Vale coming on line remain.
But Ziggy has offered big dividend surprises recently and with low interest rates, dividends are king.
Continuing to take shorts. Looking for 7.60.
27420-27460 is the overhead trend-line resistance...but how can the US Stock market resist 28000? Or even 30000? They just love hitting the big numbers.
Just some interesting confluence of recent moves.
Point to a $28.20-$28.50 end point?
If it gets that far, one would have to think it will need to tap $30??
Market bounced from a smaller support than what I was aiming for.
The market has decoupled from a GDP dropping trend to a market driven by political situations.
I am aiming for a double top at near new highs or a reversal in the coming days.
Could be an interesting day on the ASX200.
Futures are holding around the 5863 mark. But with Gold and Oil down the miners could start to pull on the market, added to that the banks may be soft after CBA yesterday. On the flip side the AUD was down overnight reducing the AUD losses in Gold and Oil.
I am looking at 5827-5823 as a key area. Its the S1 pivot...
