Stock Markets Archives - Page 30 of 170

May 30, 2017

Why we’re selling all shares and handing cash back to investors – Philip Parker | Livewire

Philip Parker – veteran fund manager decides to sell all shares in Altair’s Trusts to hand back cash and hands back mandates for SMA/IMA’s and also sells MDA family office mandates to cash from shares.

Why?
AUSTRALIAN EAST COAST PROPERTY MARKET BUBBLE AND THE IMPENDING CORRECTION
CHINA PROPERTY AND DEBT ISSUES LATER THIS YEAR
THE OVERVALUED AUSTRALIAN EQUITY MARKETS AND
OVERSIZED GEO-POLITICAL RISKS AND AN UNPREDICTABLE US POLITICAL ENVIRONMENT

The underlined above are some of the more obvious reasons to exit the riskier asset markets of shares and property – in my opinion.

As a result of the above and after 25 years as a fund manager and 30 years in this industry I am taking around 6 to 12 months off. The main reason is in my opinion that there are just too many risks at present, and I cannot justify charging our clients fees when there are so many early warning lead indicators of clear and present danger in property and equity markets now….

May 26, 2017

Germany: DAX retraces

Germany’s DAX is retracing to test its new support level at 12400/12500. Rising Twiggs Money Flow signals long-term buying pressure. Respect of support is likely and would confirm a primary advance, with a target of 13400*.

DAX

* Target calculation: 12400 + ( 12400 – 11400 ) = 13400

May 26, 2017

Footsie powers on

Sterling weakened against the Euro, with GBPEUR headed for a test of primary support at 1.135/1.140. Breach would signal a fresh decline to test the 2016 low at 1.100.

GBPEUR

The FTSE 100 shrugged this off, advancing towards its medium-term target of 7700*. Rising Twiggs Money Flow indicates long-term buying pressure.

FTSE 100

* Target: 7400 + ( 7400 – 7100 ) = 7700

May 26, 2017

India: Sensex breakout

India’s Sensex advanced to 31000 having broken long-term resistance at 30000. Target for the advance is 32000* but expect retracement to first test the new support level. Rising Twiggs Money Flow indicates long-term buying pressure.

BSE Sensex

* Target: 29000 + ( 29000 – 26000 ) = 32000

May 26, 2017

Shanghai intervention

The Shanghai Composite Index recovered above primary support at 3100, after the state moved quickly to ease contractionary pressures from the recent crackdown on wealth management products. Rising Twiggs Money Flow signals buying pressure but the situation is artificial. Normally breach of primary support would elicit strong selling.

Shanghai Composite Index

* Target medium-term: May 2016 low of 2800

May 26, 2017

ASX retreats as iron ore breaks support

Iron ore broke support at $60, signaling another decline. The medium-term target is $50*.

Iron ore

* Target: 60 – ( 70 – 60 ) = 50

Resources stocks lost momentum, with the ASX 300 Metals & Mining index respecting resistance at 3000. Twiggs Money Flow seemed to be recovering after a strong bearish divergence but has again slipped below zero, warning of selling pressure. Expect another test of primary support at 2700.

ASX 300 Metals & Mining

The big banks face selling pressure, with Twiggs Money Flow falling sharply. The primary down-trend on the ASX 300 Banks Index, having broken support at 8500, offers a medium-term target of 8000*.

ASX 300 Banks

* Target: 8500 – ( 9000 – 8500 ) = 8000

The ASX 200 respected resistance at 5800. Breach of 5700 is likely and would confirm another test of primary support at 5600*. Breach of 5600 would signal a primary down-trend, offering a target of 5200*.

ASX 200

* Target medium-term: 5600 – ( 6000 – 5600 ) = 5200

May 21, 2017

Beijing eases pressure

China’s PBOC eased up on its crackdown on wealth management products (WMPs) and related bank lending. The resulting fall-off in new credit and a spike in interbank lending rates threatened to precipitate a sharp contraction.

Copper rallied off long-term support at 5400. The reaction is secondary and breach of 5400 remains likely, signaling a primary down-trend.

Copper A Grade

Iron ore is consolidating in a narrow bearish pattern above support at 60. Breach seems likely and would signal another decline, with a target of 50*.

Iron Ore

* Target: 60 – ( 70 – 60 ) = 50

Shanghai’s Composite Index rallied to test its new resistance level at 3100, after breach signaled a primary down-trend. Respect would confirm the decline, with a medium-term target of 2800*, but government intervention may bolster support. Recovery above 3100 would mean all bets are off for the present.

Shanghai Composite Index

* Target medium-term: May 2016 low of 2800

May 21, 2017

India: Sensex tall shadow

A tall shadow suggests the Sensex is also likely to retrace, to test its new support level at 30000. Respect would confirm the primary advance. Declining Twiggs Money Flow indicates medium-term selling pressure but the long-term signal remains bullish. Target for the advance is 32000*.

BSE Sensex

* Target: 29000 + ( 29000 – 26000 ) = 32000

May 21, 2017

Footsie retraces

The FTSE 100 is retracing to test the new support level at 7400. Respect is likely and would indicate an advance to 7700*. Declining Twiggs Money Flow indicates medium-term selling pressure but the long-term signal remains bullish.

FTSE 100

* Target: 7400 + ( 7400 – 7100 ) = 7700

May 19, 2017

S&P 500: Tall shadows warn of selling pressure

The S&P 500 is recovering after Wednesday’s sharp fall but tall shadows on the last two candles indicate selling pressure. This is supported by a bearish divergence on 21-day Twiggs Money Flow, signaling medium-term selling pressure. Respect of resistance at 2400 is likely and would warn of another test of primary support at 2330.

S&P 500

Bellwether transport stock Fedex [FDX] has consolidated in a broad rectangle over the last six months. Bearish divergence on 13-week Twiggs Money Flow indicates long-term selling pressure. Breach of support at 185 would signal a primary down-trend, warning that economic activity is slowing.

Fedex