Tag: stock technical analysis
Trading insights on share trading, forex trading, cfd trading and options trading. Powerful insights from our Wealth Advisers at PhillipCapital Australia.
Over the last week we have seen the European and US markets move higher whereas the Asian markets were weaker and surprise, surprise the Aussie market was flat like it has been for almost the last 5 months. We are up only 15.8 points or 0.2% since the start of the year.
Strong moves up and down yet we still really haven’t gone anywhere locally. We are still trapped inside the sideways trading range and it is looking like the US markets are joining us. A new all-time high on the Dow but not on the S&P 500 or the NASDAQ. This could be sector rotation from Tech stocks to your more old economy stocks like those you find in the Dow?
Read more about Stock Technical Analysis - US and Australian Stock Market Report
It was the Winter Solstice last Wednesday (21st) which is a seasonal change and we can see how this affects the markets more times than not. June is the weakest month of the year seasonally however this is followed by July which is one of the two strongest months of the year (December the other) possibly because of the start of the new financial year here in Australia?
Milestones were reached in the week just gone. We had the 3 main US markets (S&P 500, DJIA & NASDAQ) making new all-time highs for the first time since 1st March. We have also had both Amazon (AMZN) and Alphabet better known as Google (GOOGL) racing each other to the BIG round number $1,000 per share level.
We are 6 weeks on from the all-time highs made on the 1st of March for the US markets and have been working lower ever since. We are seeing a rotation for the moment from the US into other markets. More report on this using stock charts technical analysis.
The FED raised interest rates 0.25% as expected and the US markets moved up on the back of this.