ASX Market Watch – April 2010 – ASX Top 200 Short Term Sell Signal plus Dow Jones
By Dave McLachlan
Click below for the latest Market Watch Video (if you can’t see the video, click the link above).
UPDATE:
The ASX Top 200 has made a short term sell signal, by crossing the short term up trend line and then making a lower peak and lower trough. Long term trend line support still remains at 4800. It is forming a broadening wedge – the last time this occurred was just before August 2007 – and I think you know what happened in August 2007! That’s right, the beginning of the credit crisis.
Now, there is a lot of support so I’m not saying there will be as large a down move as August 2007, but the short term sell signal is in place, and we’re about to test the long term support.
The Dow Jones is still trending upwards very well! Click the vid below for more.
As always this is not a recommendation, please do your own due diligence. A great place to start is the free trading and investment course on this site. Also check out the Strongest Market Sectors to find out if you are investing with the best or falling behind. And I’ve just loaded my personal Trading Diary so if you want to see me practice what I preach, you can check it out.
Happy Trending guys! All the best.
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April 24, 2010
Tags: asx market watch, broadening wedge, dow jones, investing, top 200, trading Posted in: Market Watch Weekly
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