Redback's Australian Stock Market Report: 20-Day New Lows. Up trend. Down trend.

Showing posts with label 20-Day New Lows. Up trend. Down trend.. Show all posts

Monday, January 11, 2010

Here's the cruncher. There have been no new 20-Day New Lows amongst the 50 Leaders since before Christmas.

Until we see the 20-Day New Lows lift off the Zero level, the trend remains upwards.

Cheers

Red

About this blog

Emphasis in this report is given to inter-market analysis (bonds, gold, international stock markets, currencies), market sector analysis and breadth analysis. Mention will also be made of simple Technical Analysis tools. The main indicators used are the MACD (Moving Average Convergence Divergence), RSI (Relative Strength Index), Slow Stochastic, trend lines and On Balance Volume.

To make matters clear. I am not a licensed financial advisor. Any statement that I make should be read as the personal opinion of a simple chartist trying to make sense of a chaotic environment.