Tag: weekly chart
Trading insights on share trading, forex trading, cfd trading and options trading. Powerful insights from our Wealth Advisers at PhillipCapital Australia.
Australian and US Market Commentary 18 July 2016 – Will the new all-time highs in both S&P 500 and Dow Jones last?
New all-time highs in both the S&P 500 (2169.05) and the Dow Jones (18,557.43) were made on Friday after making new highs each day of the week. It took almost 14 months to surpass the previous all-time highs (2134.72 & 18,351.36) and even then we are only 1.6% & 1.1% above these levels.
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...