Please note – today’s 5 pm prices will not be blogged, only tweeted from @MMcCarthy_CMC (I’ll be on air) Day 3 brought the third stop out – no wins so far. As Peter put it on twitter: This is an opportunity to practice the discipline that trading requires. A run of losses can lower confidence […]
Asia Pacific indices Australia 200 is falling for a second straight day after faltering near the 6,000 round number, currently testing 5,900 with next potential support near 5,840 former resistance then 5,800 and 5,750 a 23% retracement level. RSI falling down from 70 indicates upward momentum weakening and a trend change possible. Japan 225 keeps […]
Please ignore the previous email on this post which had to be resent due to error. Apologies for the inconvenience The first week of March means that Non Farm Payrolls are due on Friday. This largest of the news items for the month often is met with a major move but often before a few […]
Each Thursday, I co-host the “Market Day” program on Sky Business (Channel 602) at 430 pm. My brother, Mark McCarthy, hosts “Your Money, Your Call” later on Thursday evenings (yes, we are a family of big-headed show ponies). Last week on Market Day I was chatting on air with Sky journo Ingrid Willinge and expressed […]
Suncorp shares fell 2% yesterday. The Queensland based insurer released an update on the likely revenue impact of claims relating to Cyclone Marcia. This is the second major hazard it’s had to deal with this year. The first was the hailstorm in Brisbane during November. Suncorp estimates it will have around 10,000 claims in Central […]
Day 2 of the Five Minutes a Day Trading campaign gave another stop out. The shape of trading suited the strategy, in that the direction for the session was set by the initial moves. However, the impulse wasn’t strong enough, and the rally faded. Twenty days remain to hit the seven wins needed for a […]
Asia Pacific indices Australia 200 appears to have a bearish key reversal underway, touching a new high then smacking into 6,000 resistance and falling back sharply. RSI rolling back under 70 suggests a correction starting with next potential support near 5,900 then 5,870 both prior lows. Japan 225 continues to drop back from 19,000 resistance […]
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