Don’t get me wrong – some of my best friends are European. But I may be a little economically prejudiced against them. Their labour markets are rigid, inefficient and too costly. Their social safety nets are in some cases absurdly extravagant. The growth outlook is poor, and they have no mechanism for adjusting for the […]
Asia Pacific indices Australia 200 is back above 5,450 near the top of a 5,340 to 5,500 trading channel that has emerged while it digests recent advances. RSI backing away from overbought suggests it may be moving into a sideways phase for now. Next measured resistance on a breakout appears near 5,660. Japan 225 is […]
Asia Pacific indices Australia 200’s correction has intensified with the index taking out 5,385 then retesting it as new resistance while the RSI falls toward 50 suggesting upward mo easing. Initial potential support tests appear near 5,300 then 5,255 where an old high and Fibonacci test converge. Japan 225 has been knocked down through 14,830 […]
Asia Pacific indices Australia 200 is levelling off and possibly breaking down. It fell off a breakdown through 5,430 toward 5,380 but has bounced to retest its old support level as new resistance. A failure to break though would confirm the start of a new downleg with next support possible near 5,335. More upside resistance […]
Asia Pacific indices Australia 200 continues to struggle with 5,460 resistance, the high end of a trading channel with the low near 5,030. RSI near overbought suggests rally may be getting overextended and near term backing and filling possible. Initial support appears near 5,430 then 5,380. Japan 225 is trading between 14,760 and 14,920 around […]
Asia Pacific indices Australia 200 is retesting its 52-week high near 5,460 although RSI near overbought suggests it may struggle to maintain upward momentum. The next prior high resistance test after this appears closer to 5,700 with support rising toward 5,395. Japan 225 continues to claw back recent losses, bouncing off a higher low near […]
Asia Pacific indices Australia 200 has cleared the 5,400 hurdle but continues to struggle with channel and 52-week high resistance near 5,460. RSI near overbought and levelling off suggests upward mo struggling. Initial support in a pullback may appear near 5,370 then 5,320. Japan 225 is consolidating recent gains between 14,600 and 14,830 with a […]
Asia Pacific indices Australia 200 is breaking out today, clearing 5,300 and taking out a downtrend resistance line. RSI above 50 and rising indicates upward momentum accelerating with next potential resistance in the 5,365 to 5,375 area Japan 225 has encountered resistance near 14,830 and has started to drop back while RSI failing to retake […]
Asia Pacific indices Australia 200 has broken out over 5,255 while its RSI has moved decisively back above 50 to confirm momentum has turned positive. Next potential prior high tests appear near 5,335 then 5,385. Japan 225 continues to attract renewed interest rallying up off of 14,565, up through 14,830 both Fibonacci levels and taking […]
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