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Daily Index Update: SWI 20

AutoChartist.com — Wed, 17 Nov 2010 15:57:00 EST

Global equity markets fell on Tuesday as investors shed risky assets. The sharp sell-off in the SWI 20 index was triggered by a solid rejection of the established resistance line at 6580.

Daily Index Update: AUS 200

AutoChartist.com — Tue, 16 Nov 2010 23:18:00 EST

A series of solid rejections of the downtrending resistance line by the AUS 200 give this 30-minute Triangle chart pattern a negative tone, supporting the conclusion of a breakout to the downside as determined by Autochartist.

Daily Index Update: AUS 200

AutoChartist.com — Mon, 15 Nov 2010 23:13:00 EST

The 30-minute AUS 200 Triangle chart pattern is consolidating at the support line, leading to speculation that this emerging chart may trigger a continuation rally into resistance.

Daily Index Update: US 500

No Author — Wed, 10 Nov 2010 21:13:00 EST

The 240-minute US 500 formed a potentially bearish Triangle chart pattern after investors fled risky assets for the safety of the U.S. Dollar. The index made an attempt to breakout to the upside after establishing support, but that rally met selling pressure which triggered a closing price reversal top. Based on the topping formation, as well as the support line break, this market seems poised to continue its break into the target zone at 1210.00 to 1199.75.

Daily Index Update: DE 30

AutoChartist.com — Wed, 27 Oct 2010 17:27:00 EST

The intraday surge in the DE 30 (or �Germany 30�) has put this index on the bullish side of downtrending resistance created by a 60 minute Channel Down pattern. After sitting inside of this emerging formation for 39 time periods, this market recently became a completed pattern, setting up an upside target at 6648 to 6671.

Daily Index Update: US 30

AutoChartist.com — Tue, 26 Oct 2010 23:08:00 EST

The weaker Greenback helped to boost equity prices overnight, led by the US 30. While this market has been able to sustain an uptrend inside of this 113 bar Rising Wedge formation, the rallies seem to have been labored. This is a potential sign of a top especially since the rallies appear to be getting shorter in terms of both length and duration.

Daily Index Update: USTEC

AutoChartist.com — Mon, 18 Oct 2010 21:34:00 EST

The USTEC index bucked the trend of the other major indices on Friday, rising sharply higher, and closing over the resistance line of a 30 minute Channel Up pattern. This technology weighted index was supported by strong gains in Google stock, while the financially weighted S&P 500 and Dow suffered because of poor earnings from GE, and concerns about the financial sector�s exposure to foreclosure losses.

Daily Index Update: DE30

AutoChartist.com — Fri, 15 Oct 2010 20:38:00 EST

After spending 25 bars forming the 30 minute Flag pattern, the DE30 broke out to the upside, setting it on course for the forecast target of 6481 to 6500. Greater demand for higher risk assets triggered by a weaker U.S. Dollar is the catalyst behind this developing breakout rally.

Daily Index Update: FTSE 100

AutoChartist.com — Thu, 07 Oct 2010 19:02:00 EST

The FTSE 100 managed to break higher through the three-week-long consolidation that had kept the uptrend from advancing. The movement through resistance at 5650.33 pushed the index to a higher high�and to the doorstep of the 5700 level. The 15-minute chart, with a high at 5,695.51, shows some of the short-term fatigue below this whole round number ceiling.

Daily Index Update: FTSE 100

AutoChartist.com — Wed, 06 Oct 2010 20:49:00 EST

f the FTSE 100 is ready for a correction lower, nobody has bothered to tell the bulls. The market rallied higher yet again, though it remained below the recent high from September 30, at 5650.33. While the uptrend still reflects the dominant market psychology, consolidation near the highs could be setting up a more sustained move lower with the six-week rally possibly ready to correct.

Daily Index Update: U.S. SPX500

AutoChartist.com — Tue, 05 Oct 2010 19:51:00 EST

The risk aversion and subsequent sell-off in the equities markets has pushed the U.S. SPX500 lower through Triangle Pattern support at 1138.30 on the 30-minute chart. The congestion on this timeframe has slowly narrowed, but has yet to quiet to consolidation; therefore, follow-through lower is expected to be brief. There is past support along 1131, and this is likely where the bears will reach buying support.

Daily Index Update: Australian 200 Daily

No Author — Wed, 29 Sep 2010 20:05:00 EST

Rather than becoming locked into a set up, great traders can take cues both from price action and indicators in order to paint a picture of where prices may go. Often, trend-followers must be flexible enough to notice when a strong uptrend indicates a breakdown that might, in fact, set up a buying opportunity.

Daily Index Update: Wall Street Cash

AutoChartist.com — Mon, 27 Sep 2010 22:03:00 EST

The Wall Street Cash index made a strong move higher once again proving the bears and naysayers wrong when the prior high at 10719 was broken, and the index took another step towards 10900. The Friday session high was 10865.8. This has landed Wall Street Cash in the Forecast resistance area between 10826 and 10889. [...]

Daily Index Update: Singapore Blue Chip

AutoChartist.com — Fri, 24 Sep 2010 21:01:00 EST

The short-term intraday move lower on the Singapore Blue Chip index continues to feel selling pressure along the downtrend line at 362.7. This is the backbone of a 15-minute sell-off, which is also the resistance of a shallow Falling Wedge pattern. The move lower was not an especially steep one, and therefore has registered just a one-bar Autochartist Initial Trend reading. This suggests that whatever bearish momentum the 15-minute time frame had is transitioning to a more sideways market.

Is the Bull Back?

Rick Alexander — Tue, 21 Sep 2010 14:35:00 EST

INDICIES: 9/21/10. FOMC MEETING. HOUSING STARTS & PERMITS. Higher closes Monday for the cash and Dow futures along with the S&P's and nasdaq.The Dow and S&P's gave me BUY SIGNALS while making, along with the cash, their best highs and closes since the middle of May. Not to be outdone the nasdaq had its highest high and close since the beginning of May. BUY SIGNALS FOR THE DOW, S&P'S AND NASDAQ. CALL FOR DETAILS!

Daily Index Update: FTSE 100

AutoChartist.com — Wed, 08 Sep 2010 17:39:00 EST

After what could be considered very short-term consolidation near the prior session�s highs, prices lost buying support at 5435 (X) and the FTSE 100 sold off through the support of a Triangle pattern on the 60-minute time frame.

Daily Index Update: US Dollar Basket

AutoChartist.com — Thu, 02 Sep 2010 19:55:00 EST

The likelihood for a continued slide in the US Dollar Basket after price broke the 83.00 level early on in the Wednesday session, is going to be challenged by the support between 82.53 and 81.95 (F). This area is the Autochartist Forecast from the Triangle breakdown through 82.94 on the 240-minute time frame. The initial follow-through lower was slow but the sell-off came suddenly despite a weak pierce of the pattern that registered only a two-bar Breakout reading. The US Dollar Basket weakness was later accelerated by the large gains in US equities pre-market and throughout the entire session.

Daily Index Update: U.S. Tech 100

AutoChartist.com — Wed, 01 Sep 2010 16:32:00 EST

The congestion in the U.S. Tech 100 index started at the beginning of Tuesday�s lunchtime doldrums and extended through the session�s close. This put the index within the range from 1781.75 to 1755.25 and helped form a Triangle pattern on the 60-minute timeframe.

Weekly Index Update: US SPX500

AutoChartist.com — Wed, 18 Aug 2010 17:08:00 EST

While the daily chart of the US SPX500 continues to trade within a wide and volatile range of a distribution market cycle, there are some early signs that the daily has once again found the bottom of the range and is ready to rally higher. This potential reversal can be taken by watching for a floor, however, a more prudent confirmation would be to wait for momentum higher.

Daily Index Update: US Dollar Basket

AutoChartist.com — Wed, 18 Aug 2010 17:07:00 EST

After trending higher over the past ten days, the US Dollar Basket is beginning to show signs of profit taking, as well as a sustained reversal of the intraday uptrend. While the daily time frame shows that the bounce has transitioned the overall downtrend to a more neutral market cycle, the resumption of bearish sentiment is close to confirming this. The intraday market sentiment could shift in the US Dollar Basket and can break 8240.