I am not a financial adviser so you should not take any part of this blog as being financial advice. Observing and interpreting charts is a hobby and so is this blog. The information in this blog is just my opinion, it may not reflect reality. Stock market investing is risky - you can lose all, or potentially more than all of your money given certain market conditions. Not only can you lose a lot of money buying shares, you can also lose a lot of potential profits by selling shares at the wrong time. So please do not buy or sell shares because of information in this blog. Whether you buy or sell shares is your decision as is the decision when to buy and sell. Do not risk any money you cannot afford to lose. Do not risk any money if you do not fully know and understand what you are doing.

Sunday, May 29, 2011

Searching for a trend change

The stockmarket has reversed its daily trend but until the weekly chart makes a reversal pattern, the main trend remains down. All major stockmarkets show a similar short term pattern - i.e. the potential of a trend change but none have confirmation from weekly charts. The exception is the Canadian stock market. It's weekly chart turned up two week's ago and last week continued the upward trend. That's good news for our commodities laden market. So is the weekly chart of the CRB Index which made a reversal pattern last week - see chart below.
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