Technical Chart Analysis of The Markets

Scanning the Indicators - Each morning I scan a wide range of technical indicators covering the major exchanges in the US, Canada and the UK. As the markets ebb and flow, a range of bullish and bearish technical indicators provide valuable data for investors searching for clues as to the market's overall health and trend. Patterns emerge over time that tip the scale in either a bullish or bearish direction. Let's take a look. Read more....

Peak Volume - he NYSE Advance-Decline Volume Index captures the cumulative total volume flowing into advancing and declining stocks over time. It often peaks ahead of price and signals a change in direction of the underlying market trend. The Relative Strength Index (RSI) at the top of the chart also tends to peak and trough at the same time. The RSI surged at the end of 2017 but has failed to register similar readings in 2018. Read more....

The Year of Divergence - While the S&P has added +12% in local currency terms this year, the United States is the only major market in positive territory year-to-date. European stock markets are rolling over while many emerging markets appear to be grappling with developing crises. The technical indicators I follow are confirming the weakening trend across equity markets. Read more....

Dollar Top, Commodity Bottom - After suffering a multi-year bear market, commodities are starting to perk up, possibly reacting to an intermediate-term top in the US Dollar. Commodities can run aggressively higher and if we start to see more signs of inflation in the US as a result of tight labour markets and loose monetary and fiscal policy, I think this sector could get up a head of steam quite quickly.

Trouble Brewing for Chinese Banks - Crescat Capital recently published a chart showing the growth of the banking systems of China, the US, Japan and the Eurozone since the global financial crisis of 2008. The growth in Chinese bank assets is off the charts and has reached $39 trillion or nearly 300% of Chinese GDP. Unprecedented isn’t the word.

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Brian Delaney, CFA

Director, Secure Investments

Tel: +353 86 821 5911

Website: www.secureinvestments.ie

Email: brian@secureinvestments.ie

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Delaney Investment Services Limited trading as Secure Investments is regulated by the Central Bank of Ireland. Delaney Investment Services Limited is registered in Ireland and is a limited liability company. Registration Number: 516058. Registered Office: 76B Northumberland Road, Ballsbridge, Dublin 4, Ireland.