Index Alerts

With US inflationary data out tonight…whats in store for the ASX200

Posted on by braden
14
Feb

ASX200 Index Analysis

 

Index – ASX200

The ASX200 has continued to come under pressure from volatility in global equity markets. Price has been holding up around our support zone of 5820/5830 but still has some work to do before we are confident of higher prices. The short term charts are shaping up with buyers coming back in but important inflationary figures out in the US tonight can quickly change the whole dynamics and smack prices lower. We are still watching US bonds to see if yields will fall (bonds rally) which which ease the tension. If CPI data tonight comes out stronger than expected then the DOW may be in for another volatile night. Still happy with low exposure to ASX shares and will only be watching for quality setups until it is clearer that we are out of the woods.

Index : Index – ASX200

Current Price : 5846

Status : On watch for higher lows

 

 

Previous Alert 7/2/18

Index – ASX200

The ASX200 was beaten down yesterday as fear gripped the market and traded right into our extension zone at 5850. We have seen a reaction higher today as the US had a major bounce but the ASX200 is not out of trouble yet. The Index needs to hold above this level and build some higher lows over time before the markets settle down and shares are able to reset and build buying opportunities again. We expect some volatility to continue as the market builds a base to work from. If price reacts higher and then sees another wave of emotional selling over the next few days, then it may be time to batten down the hatches.

Index : Index – ASX200

Current Price : 5892

Status : On watch for higher lows

 

 

Previous Alert 6/2/18

Index – ASX200

The ASX200 is under pressure from the open as sellers pile in after the DOW falls over 1100 points overnight. We see price as extended but it will still have a lot of work to do to increase the confidence of buyers. Support around the 5850 zone needs to hold today for a reaction higher. If not we may see some further selling pressure in the coming days.

Index : Index – ASX200

Current Price : 5855

Status : On watch for higher lows

 

braden