yes loving it, go the dow:t_up: my funds were moved offshore last yr mostly hence my infatuation with the dow lol good timing considering the out performance vrs nz.
listened to trumps speech hit all the right notes.
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China cutting growth forecast
top of the channel was actually just above 21000 as of today compared to the post but we made it last week as the projection move implied guess we are at the top of the channel so we will have to play day to day see what happens.
rough figures below on last 20 weeks performance leading into us election and after US election
Security Name Close 20 Week % Dow Transport 9491 18.06 Dow Industrials 21005 15.81 JAPAN 19469.1699 15.50 Russel 1394.13 14.99 GERMANY 12027.3604 13.68 Nasdaq 5870.75 12.59 S&P 500 2383.1201 11.73 FRANCE 4995.1299 11.72 BRAZIL 66800.7422 8.15 Dow Utilities 698 7.06 OIL 53.26 5.93 AUSTRALIA 5729.6001 5.44 LONDON 7374.2598 5.14 CHINA 3218 5.06 INDIA 28832 4.19 EEM 38.19 3.55 HANG SENG 23552.7207 1.37 HYG 87.99 1.30 NEW ZEALAND 7160.8701 0.39 CRB 189.71 0.13 GOLD 1235 -1.36 TLT 119.35 -9.30
NZ not doing to good, could be because of our utility nature but I don't think so as Dow utilities have performed very strong last few weeks.
I think it the upcoming election uncertainty and when you get English say he might change superannuation well that has really caused uncertainty as big changes will surely mean national will lose the election. ( unless maybe it was only changes to migrant rules on receiving super) anyway his vagueness has ensured a lot of uncertainty this yr now.
Heading to the states soon see whats happening - cant wait
US stocks fall
S&P declines slightly, 4th day in a row
https://www.bloomberg.com/news/artic...t-markets-wrap
the decline this week reinforces the top of the channel marker for the time being
anniversary of the 8yr bull market today although markets are hardly celebrating or maybe there celebrating by selling a few to feel the cold hard cash in there account.
its now the 2nd longest bull in history I believe
Both the DOW and S&P have been slowly declining since the beginning of the month. Euphoria wearing thin ?
Add to that
- NZX might form a head and shoulders pattern
- ASX just had a double Top and
- rising interest rates (very likely) are typically (at least short term) not good for markets.
- Fear and Greed index still in overdrive (though coming down over the last weeks) and
- Hoop is buying into speculative stocks (referring to the PPH thread) ;)
So - yes, the signals don't look that flash at the moment. Short term I think it is more likely to go keep going down a bit than to keep going up. And mid term? Who knows what will cause the next big drop - North Korea? Greece? China? Trump starting WWIII? Somebody realising that most countries won't be able to repay their debts, particularly in a rising interest rate environment?
What makes me really nervous though, is that for some time nobody seems to predict the end of the financial world as we know it anymore. Are really all the doomsday sayers retired? They have an important task to play ... they keep us on our toes and the markets aware.