Today's interesting charts
Comment of the Day

July 07 2010

Commentary by David Fuller

Today's interesting charts

David Fuller's view Use the 'Charting' function shown upper-left in the charcoal bar above each graph.

US 30-year T-Bond futures (US) - have seen a huge rally since April (weekly & daily) but this has lost momentum recently. A close above 128-20 is required to reaffirm the uptrend and offset current scope for a downward correction.

Malaysia (KLCI) - is another very steady Asean market (see also yesterday's chart review) and saw a small upside key day reversal yesterday. However the really important key day reversal occurred in late May, marking the reaction low. A break beneath that level would be required to indicate a developing top rather than continuation pattern where a close above 1350 would reaffirm the overall upward trend.

Chile (IPGA) - remains a global relative strength leader and a close beneath 18,690 would be required to question current scope for an upward break and resumption of the uptrend following the current consolidation.

UK (UKX) - followed up yesterday's upward dynamic with a challenge of the psychological 5000 level today. A close beneath 4800 is required to offset current scope for a further test of overhead supply.

Spain (IBEX) - another upward dynamic to test lateral trading near the psychological 10,000 level. A close above the June high would indicate scope for some further test of overhead trading.

Germany (DAX) - the lows are mostly rising within this broad trading range and a close beneath 5800 is required to offset a push above the psychological 6000 level and further test or the upper boundary.

USA (SPX) - upward dynamic to push back above lateral trading near 1050. A close beneath 1010 is required to offset a further test of overhead resistance and to reaffirm the downtrend which commenced in April.

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