Stock Trading Technical Analysis - US and Australian Stock Market Report 31 July 2017

Aussie & US Market Report - Stock Trading Technical Analysis for 31-July-2017

Do you feel like a Yo-Yo yet? If you have been watching the Aussie market you will know what I am talking about. We are still trapped inside the sideways trading range and this has been great for anyone who have been getting long at the bottom and then getting short at the top of the range as it has been working like clockwork. However we all know that sooner or later we are going to break out and when we do it will be in the direction we should be trading on the back of. We just need to be careful of false breaks as we have already had 3 of these (two to the upside and one to the down side).

The US markets have reached or are so close to the big picture targets I have had for them for a good long while now. This is where it gets really interesting because these targets could be indicating that we are getting ready for a turn and the direction of that turn will be down. Are you prepared if this plays out?

To get the most out of this report you will need to read the report as well as watch the technical analysis videos which accompany it. If you have any suggestions as to how I can make it better please feel free to let me know.

The first technical analysis video covers the XJO (monthly, weekly, daily and intraday over the week):

The second technical analysis video covers the S&P 500 (monthly, weekly and daily) and the third technical analysis video covers the Dow Jones (monthly, weekly and daily).

 

Australian Market Report (XJO)

Australian Market Charts (XJO - Monthly) – last 5702.8, Friday 28-Jul-17

Australian Market Charts

Important Points to Note from the Monthly, Weekly & Daily Chart:

  • The Monthly trend is currently Up. We have a higher top and higher bottom in place.
  • July formed an Inside month (a month with a lower high and a higher low than the month before) closing marginally below the open indicating the buyers and sellers were pretty much evenly matched by the end of the month.  *(July still has Monday to trade so this could change)*
  • The Weekly trend is currently Down. We have a lower top and lower bottom in place.
  • Last week formed an Outside week (a week with a higher high and a lower low than the week before) closing below the open and in the bottom third of the range indicating the sellers were in control by the end of the week.  
  • The Daily trend is currently Undecided. We have a higher top and lower bottom in place.
  • Friday formed a Down day (a day with a lower high and a lower low than the day before) closing well below the open and up a touch from the low indicating the sellers were in control most if not all of the day.

Get the full complimentary Australian stock market report from Shane. 

 

US Market Report (S&P 500 & DJIA)

US Market Charts (S&P 500 - Monthly) – last 2472.10, Friday 28-Jul-17

US Market Charts - Stock Trading Technical Analysis 

Important Points to Note from the Monthly, Weekly & Daily Chart:

  • The Monthly trend is currently Up. We have a higher top and a higher bottom in place.
  • July formed an Up month (a month with a higher high and a higher low than the month before) closing above the open and just shy of the high indicating the buyers have regained the upper hand.  
  • The Weekly trend is currently Up. We have a higher top and a higher bottom in place.
  • Last week formed an Up week (a week with a higher high and a higher low than the week before) closing at the open and right in the middle of the range indicating the buyers and sellers are evenly matched.
  • The Daily trend is currently Undecided. We have a higher top and a lower bottom in place.
  • Friday formed an Inside day (a day with a lower high and a higher low than the day before) closing above the open and down a little from the high.
  • The S&P 500 made a new all-time high of 2484.04 which is 83.06 points or 3.5% higher than the March 1st top 2400.98.
  • I have come up with the following levels from different methods that will be important to watch for resistance as we move higher into Blue Sky 2267, 2279, 2286, 2293, 2305, 2318, 2334, 2385, 2401, 2423-2427, 2457-2459, 2480 & 2485.
  • The daily trend is Undecided, the weekly trend is Up and the monthly trend is Up.  

Get the full complimentary US stock market report from Shane. 

Upcoming Dates of Note.

Upcoming Dates of Note 31 Jul 17

 

Stock Market Technical Analysis 

 

Disclaimer 
This publication has been prepared solely for the information of the particular person to whom it was supplied by Phillip Capital Limited (“PhillipCapital”) AFSL 246827. This publication contains general financial product advice. In preparing the advice, PhillipCapital has not taken into account the investment objectives, financial situation and particular needs of any particular person. Before making an investment decision on the basis of this advice, you need to consider, with or without the assistance of an adviser, whether the advice in this publication is appropriate in light of your particular investment needs, objectives and financial situation. PhillipCapital and its associates within the meaning of the Corporations Act may hold securities in the companies referred to in this publication. PhillipCapital believes that the advice and information herein is accurate and reliable, but no warranties of accuracy, reliability or completeness are given (except insofar as liability under any statute cannot be excluded). No responsibility for any errors or omissions or any negligence is accepted by PhillipCapital or any of its directors, employees or agents. This publication must not to be distributed to retail investors outside of Australia.   

 

About Shane Langham

+61 (7) 3338 3838 Email Profile

Shane has passionately followed the markets since the age of 16, and has been an adviser in the financial markets since the year 2000 having worked for a range of firms, including one of the world’s largest investment banks as well as smaller boutique broking firms. Shane is also a past Vice President of the Australian Technical Analysts Association (ATAA) Brisbane, a position he held for 6 years.

Shane is currently a Senior Private Wealth Adviser at Phillip Capital and can assist you with all of your stock market needs - whether you are looking to buy or sell shares, set up a portfolio, grow your SMSF, protect your portfolio, or trade the market. He specialises in technical analysis, risk management, and options trading and focuses predominantly on the Aussie markets.

Shane also writes two key market related technical analysis reports (including a free weekly Market Commentary Report), designed to give traders and investors the best chance possible to get the results they are after from the markets. To find out more about these reports please click here. http://www.phillipcapital.com.au/shane-langham

Shane lives on the sunny Gold Coast with his wife and two dogs. He loves chatting about the market with other like-minded people, so don’t be afraid to pick up the phone or send him an email.

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