Posts Tagged ‘trend Line’
NIKKEI 225 Index, On the Way Up
The Nikkei 225 Index, the major index of the Japanese Exchanges is up 0.8% at 9504.51, a little higher than its morning close of 9469.63, down from the intraday high of 9528.01 hit in the afternoon session. Further gains may be limited with short-winded resistance at 9550. This strong upwards sentiment was slightly helped by the Australian markets’ gains and strong Chinese export data, suggesting that worries in Europe haven’t dented the appetite for Chinese goods. The index’ major members went higher, led by oil-related shares such as Inpex, up 3.4%, and JX Holdings, up 1.9%, on higher crude. Technology export industries were up somewhat, including those exporting autos such as Nissan Motors, up 1.5%, rebounding somewhat on higher Euro Dollar-Japanese Yen rate.
The Nikkei has made a major bottom pattern called a double bottom. It has hit a major support line twice and bounced off of it. Check the Daily Chart below. This can show us, as a short-term indicator, that the Japanese Market is going upwards for now. The RSI is showing a low point that indicates good buying position both on the Daily and the Weekly Chart that is shown below it. Also, the Weekly Chart shows a slow but sure upwards moving trend that could possibly pick up momentum. See the Charts below:
This is the way the Daily Chart looks:
This is the way the Weekly Chart looks:
NOTE THAT WEEKLY CLOSINGS DID NOT PENETRATE TREND LINE
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G-D Bless America
By this I mean, of course, none other than the US Dollar. Oh Mighty One!! Bestow your blessings on our fluctuating currency, for ’tis to be majestically and majically going up again against all fundamental odds. It’s been very hard to follow, much less to invest by. As these lines are written the US Dollar Index Futures have been going upwards nicely, breaking their previous daily downwards movement which could hardly be called a trend. The strong upward trend is confirmed today with the gap up that was caused by good world-wide news over the weekend. This trend is not expected to end soon. But, as I always have written when addressing the Dollar, any upwards trend is only a correction of the long-term downwards pattern that has plagues the Dollar since the start of this current Depression. Check out the chart to enlighten you to the short-term facts and the strong possibility that this short-term trend pattern will continue for some time to come.
This is the way the Chart looks:
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Meet Jiao Yun, a Shanghai Favorite
This company, by all means a Shanghai Stock Exchange big volume market leader, has been on a long term upwards trend for a year and a half. This is shown on the Weekly Chart below. As is seen, the chart shows the equity going down the last week and hitting the brown trendline. On an upswinging stock this usually represents a good buying opportunity.
This is the way the Weekly Chart looks:
The closing Daily Quote was at the weekly (and monthly) upwards trendlines. Because of this and all of the above there is a good chance for this stock to go up soon. And the upside down hyperbolic rate of fall of the daily prices is indicative of a right side up hyperbole of these prices as depicted on the chart below. This remains a daily chart short term investment, especially since fear is greater than greed and now that the greed emotions set in on this equity, the upwards daily-level rise will be with a smaller rate of change upwards.
This is the way the Daily Chart looks:
