The Australia ASX All-Ordinaries Index lost 1.7% through Thursday of
this week after gaining for three weeks. It traded slightly above its 40-
week moving average before reversing below the resistance level to end
the week. The market remains in a Confirmed Uptrend but now has
three distribution days over the past four weeks. It is closed on Friday
this week and Monday next week for the Easter holiday.
Symbol: TRON.HK
Market View
U.S. indices continued to rally higher this week, with the S&P 500 breaking through resistance at the 50-day moving average. Although the move came on light volume, without much quality growth leadership, consolida-tion at these levels could bode well moving forward. We are now looking for prior resistance at the 50-day to act as support. If the market calms, it will allow new leadership to develop and emerge within the next few weeks. Patience remains imperative here, as we look for the expansion in breadth needed to confirm our convic-tion in this current move. The S&P 500 and Nasdaq remain in a Confirmed Uptrend, up 1-2% from the February 17, 2016 follow-through day, with no distribution.
Global Focus Developed Long
The Australia ASX All Ordinaries Index lost 1.3% this week. After
4% gains in the prior week, it met resistance at its 10-week moving
average before selling off mid-week. Volume was well above average for
a fourth consecutive week. The index is in a Confirmed Uptrend for a
second week.
Global Focus Developed Long
The Australia ASX All Ordinaries Index gained 0.4% this week,
closing at the top of the weekly range. It bottomed on Monday, before
gaining in three of the next four days. It is in a Rally Attempt, but
remains 16% off 52-week highs and well below 10-week and 40-week
moving averages.
Global Focus Developed Long
The Australia ASX All Ordinaries Index fell 2% this week. It has now
lost 7.5% in two weeks after meeting resistance at its 40-week moving
average. The index finished at its lowest weekly closing level since July
2013. It is 17% off 52-week highs and is down 7.5% for the year.
Global Focus Developed Long
The Australia ASX All Ordinaries Index fell 5.5% this week,
representing the largest weekly drop in three years. The index is now
below its 10-week moving average once again and is 2.2% from 52-week
lows.
Global Focus Developed Long
The Australia ASX All Ordinaries Index lost 2.4% this week, falling
for the sixth time in seven weeks. The index closed below its 10-week
moving average for a second week, and is now 7% below its 40-week
moving average and 14% off 52-week highs. It is now close
Market View
U.S. indices put in their sixth straight week of gains, supported by strong moves in Energy, Financials, and encouragingly, small-cap ideas. Both the S&P 500 and Nasdaq are now sitting just 1-2% off all time highs, while the Russell is still about 8% off previous highs. Continued positive action in small- and mid-cap names would widen the breadth of the rally and give us even more confidence in further gains ahead.
Global Focus Developed Long
The Australia ASX All Ordinaries Index lost 0.4% this week,
consolidating on lower than average volume for a second week after
gaining about 6% in the previous three. The index is in a Confirmed
Uptrend, but does have two distribution days in the past three weeks.
Global Focus Developed Long
The Australia ASX All Ordinaries Index gained 1.9% this week. The
index gained in four of five trading days. The index is in a Confirmed
Uptrend after a follow-through day the prior week, however, it remains
13% off 52-week highs and 7% below its 40-week moving average. It
also has had two distribution days in the first two weeks since the followthrough.
