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ASX Market Watch Weekly – May 2010 – ASX Top 200 Support, Dow Reaches Target

By Dave McLachlan

Click below for the latest Market Watch Video (if you can’t see the video, click the link above).

UPDATE:

That early sell signal we got last week on the ASX Top 200 continued to sell off – and where did it find support?  Right on the long term up trend line!  Meanwhile, the Dow Jones has reached its initial Elliot Wave Target and begun to sell off, and the Hang Seng has started to fall below the long term up trend line as well, signalling a weakening market.

It looks like the Aussie markets are following Asia, especially China, and no longer the American markets.  We are, after all, heavily resource driven.  Check out the video 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.  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 3, 2010  Tags: dow jones, elliott wave, hang seng, investing, Market Watch Weekly, top 200, trading, trend line support  Posted in: Market Watch Weekly

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