Wall Street Traders Report April 8th

S&P500 Index: The index tracking the major US listed stocks is currently trading in a range bound by resistance of 2,120 and support at 2,040. Over the past few weeks the index is converging and forming a triangle. Reporting season is likely to provide future direction with better than expected results likely to push the index higher but disappointing results could see the index break lower below the support level.

S&P500 Index
S&P500 Index

 

 

RPC Inc (QEP) : the share price has formed a bottom reversal inverse head and shoulders with a confirmation of the pattern yesterday with a breakout out above the neckline.

RPC Inc  (RES)
RPC Inc (RES)

 

Happy Trading

Flavio

ASX Traders report April 8th

All Ords Index : The index pushed higher on Wednesday and gained 0.6% to close in on the resistance level of 5,960 points. It appears to be forming an ascending triangle so traders should be on the lookout for a resistance breakout to confirm a continuation of the up-trend.

All Ords Index
All Ords Index

 

 

Coca-Cola Amatil (CCL) : ascending triangle formation. has cleared resistance today so I will be looking for a confirmation close at the end of trading Thursday.

Coca-Cola
Coca-Cola

 

 

NEXTDC (NXT) : symmetrical triangle formation. This could breakout either up or down. An up-side breakout could signal a continuation of the up-trend

NEXTDC (NXT)
NEXTDC (NXT)

 

Happy Trading

Flavio

ASX Traders Report April 7th

All Ords Index : The index is trading between a range bound by a resistance high of 5,960 and support of 5,720. A break of the support level would be a technical double top formation. 

All Ords Index
All Ords Index

 

 

BT Investment : Continues on it’s way in a strong up-trend with a resistance breakout on Thursday.

BT Investment (BTT)
BT Investment (BTT)

 

 

Domino Pizza : Ascending triangle formation. I’m looking for a resistance breakout to trigger a long setup.

Domino Pizza
Domino Pizza

 

 

Ramsay Healthcare : after a strong up-trend this has consolidated over the past few weeks to form a symmetrical triangle. This could breakout either direction with an upside breakout signalling a continuation of the prevailing up-trend.

Ramsay Health Care (RHC)
Ramsay Health Care (RHC)

 

 

Happy Trading

Flavio

ASX Traders Report March 23

All Ords Index : has the psychological price of 6000 in it’s sight. Needs to clear resistance.

All Ords Index
All Ords Index

 

 

AMP (AMP) : ascending triangle breakout.

AMP (AMP)
AMP (AMP)

 

 

Domino’s Pizza (DMP) : watch for a bullish breakout from the upper trendline of the triangle.

Domino's Pizza (DMP)
Domino’s Pizza (DMP)

 

 

Monadelphous Group (MND) : I’m looking to gain entry on any retracement back towards to resistance/support level of $10.

Monadelphous Group (MND)
Monadelphous Group (MND)

 

Happy Trading

Flavio

ASX Traders Report March 16th

All Ords Index : Retraced last week and challenged the 5,700 support level. Prices are now trading under the 20 day moving average which has turned slightly downwards.  A further pullback to the 5,700 is possible before we see a resumption of the up-trend. The index is still trading well above the longer term 50 day moving average.

All Ords Index
All Ords Index

 

 

Domino Pizza (DMP) : looking for a breakout from the upper trend-line.

Domino's Pizza (DMP)
Domino’s Pizza (DMP)

 

 

M2 Group (MTU) : resistance breakout and new high, well supported by the 20 day moving average.

M2 Group (MTU)
M2 Group (MTU)

 

 

Mantra Group (MTR) : Ascending triangle resistance breakout for a strong technical pattern long trade possibility.

Mantra Group (MTR)
Mantra Group (MTR)

 

Happy trading

Flavio

ASX Traders Report March 5th

Ansell Ltd (ANN) : Ascending triangle breakout above resistance. Look to the trend-line for support.

Ansell (ANN)
Ansell (ANN)

 

 

Codan (CDA) : Ascending triangle breakout today on very strong volume. I’m looking to buy at 99 cents with my stops under 95 cents.

Codan (CDA)
Codan (CDA)

 

 

Capitol Health (CAJ) :  Symmetrical triangle breakout on above average volume.

Capitol Health (CAJ)
Capitol Health (CAJ)

 

Happy Trading

Flavio

ASX Traders Report March 2nd

The Australian sharemarket has enjoyed strong gains over the past four weeks and traders will be trying to determine when the correction is likely to come. Looking at the chart for the All Ords Index below I think we can see signs of this correction likely to take place soon. The index is continuing to push higher and last weeks trade saw this continue up-wards. I have drawn the short term up-trend line which in technical terms is looking to form a bearish flag. This is where the parallel trendlines are pointing upwards as shown. I think a correction this week is possible and may push he index back towards support at 5,800 points.

All Ords Index
All Ords Index

 

Below are shares on the Australian share market which have interesting technical charts.

 

Ansell (ANN) : Symmetrical triangle breakout 

Ansell (ANN)
Ansell (ANN)

 

Capitol Health (CAJ) : Symmetrical triangle , looking for a breakout 

Capitol Health (CAJ)
Capitol Health (CAJ)

 

Medusa Mining (MML) : Ascending triangle breakout

Medusa Mining (MML)
Medusa Mining (MML)

 

Slater & Gordon (SGH) : Bullish flag, look for a breakout to confirm continuation of up-trend

Slater & Gordon (SGH)
Slater & Gordon (SGH)

Happy Trading

Flavio

Wall Street Traders Report Feb 26th

The Dow Jones Index nudged higher on Wednesday with a small gain of 15 points (0.08%) to close at 18,224 points. The S&P500 index which is the broader US market index made a slight loss losing 1.6 points (0.08%) closing at 2113 points.

Volatility was low with a narrow trading range for both indexes indicating a slight pause from the recent strong up moves with the charts showing the formation of small candles in yesterdays trading. The Dow Jones Index below shows the resistance breakout has continued to push upwards. The support level sits at 18,103 points.

 

Dow Jones Index
Dow Jones Index

 

 

Pfizer Inc (PFE) : Flag breakout overnight on good volume

Pfizer Inc (PFE)
Pfizer Inc (PFE)

 

 

Charter Communications (CHTR) : Breakout from ascending triangle 

Charter Communications (CHTR)
Charter Communications (CHTR)

 

 

SM Energy (SM) : Early up-trend with a bullish candle resistance breakout

SM Energy (SM)
SM Energy (SM)

 

If you have any questions on any of the charts above please feel free to contact me.

Happy Trading

Flavio

Wall Street Traders Report Feb 25th

The U.S. stock market pushed  higher on Tuesday, nudging the Dow Jones industrial average and Standard & Poor’s 500 index to new all time highs. Overnight the Dow Jones index rose 92 points (0.51%) to close at 18,209 points with the S&P500 index putting on 5.82 points (0.28%) to close at 2115 points.

The chart below shows the Dow Jones index pushing through late December 2014 resistance on Friday with further follow through in yesterdays trading. Technically the resistance level of 18,111 points should provide short term support on any pullback.

Dow Jones Index
Dow Jones Index

 

A similar picture is noticed with the broader market index of the S&P500 chart below. It managed to breakout from the December 2014 resistance much earlier than the Dow Jones and has continued to push higher. Again the technical support level on any pullback should be at the resistance level of 2,093 points.

S&P500 Index
S&P500 Index

 

Broadcom Corp (BRCM) :  Breakout from a flag with support at $44.15

Broadcom (BRCM)
Broadcom (BRCM)

 

Mbia Inc (MBI) : breakout from the downtrend-line and inverse head and shoulders

MBI (Mbia)
MBI (Mbia)

 

If you have any questions on the charts above please fell free to contact me.

Happy Trading

 

Flavio

 

 

ASX Traders Report January 12th

Alumina (AWC) 

This chart was shown in my blog on January 5th indicating a breakout from the flag was imminent. The chart below shows the breakout was successful.

Alumina (AWC)
Alumina (AWC)

 

Magellan Fin Group (MFG)

This was another share mentioned in the January 5th report suggesting that a a breakout from the pennant was a possibility. On Friday there was a clear bullish breakout on good volume. My trigger signal for an entry has been achieved. I’ll be on the look out for an entry on Monday trading.

Magellan Fin Grp (MFG)
Magellan Fin Grp (MFG)

 

Orora (ORA)

This share is in a strong up-trend. Friday saw a breakout from resistance.

Orora (ORA)
Orora (ORA)

Happy Trading

Flavio