Trading insights on share trading, forex trading, cfd trading and options trading. Powerful insights from our Wealth Advisers at PhillipCapital Australia.
Today is the second down day from the recent top made on Friday (6234.4). 50% retracements are a normal retracement to expect.
Read more about Charting Wisdom – Aussie Market Report 02 Oct 18
The US markets are still being wound up as they continue to move sideways inside the very tight sideways trading ranges. The Aussie market on the other hand POPPED just like the Jack in the Box.
With 3 US markets all going in 3 different directions, which one is leading the way? The Aussie market has registered the highest level for the year but this last week was not quite as strong...
What a difference a week can make. I asked if the planets were finally beginning to align and a week later the S&P 500 is showing us the way. The trend on the daily chart, the weekly chart and also the monthly chart have all aligned and turned down. Not one but two...