Technicals - potential for ASX200 index and key US indices to generate buy signals

Angela Mangan

QMG Pty Ltd

Just over a week ago the view was expressed that the risk remained for a renewed sell off on the Australian market. This secondary pullback eventuated, and was a key requirement if technical base forming is to ultimately occur. The ASX200 index originally generated a technical sell signal at 5833 on 20/4/15 and the technicals have remained negative since that time. The potential now exists for a re-entry technical buy signal to be generated. This has coincided with the potential also emerging for the Dow Jones, S&P500 and Nasdaq to generate re-entry technical buy signals. (The Dow and S&P500 had previously generated sell signals in late June). The coming days will be significant from a technical perspective in terms of whether buy signals / a positive trend change occurs at an index level both in Australia and the US.


Angela Mangan
Angela Mangan
Technical Analyst
QMG Pty Ltd

Angela has over 30 years experience in the technical analysis field. She provides technical analysis coverage of major Australian and global stocks / key markets, including provision of a bespoke technical service to wholesale clients.

Expertise

I would like to

Only to be used for sending genuine email enquiries to the Contributor. Livewire Markets Pty Ltd reserves its right to take any legal or other appropriate action in relation to misuse of this service.

Personal Information Collection Statement
Your personal information will be passed to the Contributor and/or its authorised service provider to assist the Contributor to contact you about your investment enquiry. They are required not to use your information for any other purpose. Our privacy policy explains how we store personal information and how you may access, correct or complain about the handling of personal information.

Comments

Sign In or Join Free to comment