NZSX50 - Good News!

[Edwood]

Dow has coiled into a triangle, suggests a 600pt move one way or the other.... NZD already selling off and that GBP spike may give some guidance imo

[Under Surveillance]

Dow has coiled into a triangle, suggests a 600pt move one way or the other.... NZD already selling off and that GBP spike may give some guidance imo

A very lucid post. I'm acting accordingly, buying triangles and selling spikes.

[Edwood]

Happy to wait a bit longer on the triangle - although Yellen has already said she'll be into the ETFs...

[Edwood]

Likely to see more downside for NZ50 today. NZD under pressure

Dow & S&P both broken down out of their triangles, R2K down 2.3%
While FTSE has been held up by GBP weakness, watch out when it goes! Nice ending diagonal shaping up for the Brexiteers Attachment 8352

[winner69]

Economy roaring ahead at 4% plus gdp growth and still RBNZ talking OCR cuts

Ludicrous - watch out 2018 for the inevitable bust, a bust will be worse then need be

[bull....]

at first level next stop 6800 I reckon

[Valuegrowth]

NZ market is under performing other Asian-pacific markets these days. We should see some volatility in the short run.

[Mush]

at first level next stop 6800 I reckon

Attachment 8368

Agreed.

[bull....]

Attachment 8368

Agreed.

reversion to the mean highly likely considering it was extended as your chart shows

[Hoop]

at first level next stop 6800 I reckon..Bull

Attachment 8368

Agreed.

An extended rising channel shows irrational behaviour in the form of exuberance....These log term chart channel set-ups all end badly..worse than a situation of an original channel break...It could be as bad as 5500..being long term any eventual break down could take some time to happen...I'm presently eyeing up a possible H&S Pattern forming

A possible scenario (my very inaccurate crystal ball) is we might see a very common head and Shoulder pattern form with the fall bouncing up off the 6600/6800 (neck) and the rally (shoulder) hit the top of the primary channel 7050 (resistance)..another fall only creates a danger if it breaks the neckline creating a target price of 6000
This time is different