ASX Market Watch – May 2010 – ASX Top 200 Awaiting Bear Market Signal

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 confirmed its short term sell signal at the end of April 2010 – now we’re just waiting to see if it will also confirm a full bear market signal as well.  The Dow Jones is looking the strongest of the 4 indices, with long tails in price indicating buyers between 10,000 and 10,500.  The FTSE and Hang Seng are also in short term sell signals, awaiting to see a full bear signal as well.  The FTSE is also forming our familiar broadening wedge, just like the ASX.

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.  Check out my personal Trading Diary if you want to see me practice what I preach. 

Happy Trending guys!  All the best.

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May 16, 2010  Tags: , , , , , ,   Posted in: Market Watch Weekly

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