Where I See The Markets

Nicholas Forsyth

Market Matters

After 43 trading days of “treading water” between 5740 and 5997, a decent move from the ASX200 is clearly overdue. For March/April combined, the average return for banks is +5.7%. However, currently we are only up 1.7%. Tops are generally the hardest inflexion-points in a market to identify and this may be no exception. I remain positive equities for April, targeting a break towards 6100. I believe this will represent an excellent selling opportunity. I will maintain this view unless the ASX200 closes below 5890 where I will become neutral/negative. The REITs chart remains bullish to me. I can see another +5% in coming weeks from the Index. The US Indices are following my technical view so closely it’s scary, but until they break my forecast I see no reason to change. Last night the NYSE Index traded to an all-time high, ideally it should now push up over the coming few weeks. I am looking for a “blow off” top in US Indices over coming weeks, prior to a substantial ~20% correction, a year of great opportunity! (VIEW LINK)


Nicholas Forsyth
Director
Market Matters

Market Matters is an online investment and share trading advisory service designed for those that want to take their wealth further. We specialise in advice for active share market investors, including those new to the markets or those with a Self...

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