Today's interesting charts
Comment of the Day

August 02 2010

Commentary by David Fuller

Today's interesting charts

David Fuller's view Use the 'Send to a friend' link shown in the charcoal bar above each graph to forward customised charts with your comments to other investors.

Singapore (FSSTI) is challenging the April high and psychological 3000 level and a clear downward dynamic is required to indicate more than brief resistance in this region.

Australia (AS51) has had a mostly torrid time since the April high near the psychological 5000 level. However the May low held during its test in early July and close beneath 4175 would be required to reaffirm a bearish bias rather than a test of overhead resistance, in line with the mostly stronger global Asia Pacific trend evident elsewhere.

China (SHCOMP) (weekly & daily) reversed from global leader to serial underperformer in July 2009, mainly due to supply in the form of large IPOs. Since the largest and most recent of these the market has rebounded on value buying, increasing the probability that an important low was reached in early July.

Sweden (OMX) (weekly & daily) is challenging it's April high and a break in the progression of higher reaction lows with the last at 1038 is required to reverse current scope for an upward break and reaffirm resistance near the year's highs.

Denmark (KFX) (weekly & daily) is similar to Sweden above and a close beneath 398 is required to offset sideways to higher scope.

Germany (DAX) (weekly & daily) is testing its upper boundary and shows a renewed progression of higher reaction lows. A close beneath 6060 is the minimum required to indicate more than brief resistance near the April-June highs.

USA (S&P 500) (weekly & daily) has registered another higher reaction low within the rally commencing in early July. Consequently, a close beneath Friday's reaction low near 1088 would be required to check the current ranging uptrend and reaffirm resistance near the June high.



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