{"id":56460,"date":"2010-04-08T12:58:02","date_gmt":"2010-04-08T02:58:02","guid":{"rendered":"http:\/\/www.fnarena.com\/index.php\/2010\/04\/08\/correction-time-approaching-wizard-warns\/"},"modified":"2010-04-08T12:58:02","modified_gmt":"2010-04-08T02:58:02","slug":"correction-time-approaching-wizard-warns","status":"publish","type":"post","link":"https:\/\/staging.fnarena.com\/index.php\/2010\/04\/08\/correction-time-approaching-wizard-warns\/","title":{"rendered":"Correction Time Approaching, Wizard Warns"},"content":{"rendered":"<p>\n\tBy Chris Shaw<\/p>\n<p>\n\tAs US equities have risen of late the TechWizard has been watching closely as in his view a major top in equities is forming this month.<\/p>\n<p>\n\tHis technical indicators support this view, as the Wizard notes there is now a clear divergence between the MACD indicator and price action for the Dow Jones Industrial Average. The Wizard suggests this indicates a sell-off is coming and it could come as early as in the next few trading days.<\/p>\n<p>\n\tWhether the sell-off takes the form of simply a correction within an ongoing uptrend or whether it will mark the start of a new bear market will only become clear over time according to the Wizard.<\/p>\n<p>\n\t<img decoding=\"async\" alt=\"\" src=\"http:\/\/www.fnarena.com\/ckfinder\/userfiles\/images\/djia(2).jpg\" style=\"width: 700px;height: 450px\" \/><\/p>\n<p>\n\tIn addition, the Wizard has also spotted similar divergence between the MACD indicator and price action on the Australian dollar\/US Dollar chart.<\/p>\n<p>\n\tAt the same time the currency is touching the top Bollinger Band on the Wizard&#039;s price chart, so he suggests now is ma ake or break time for the currency to push higher.<\/p>\n<p>\n\tThe Wizard favours a pull back in the Aussie dollar to US91c from here.<\/p>\n<p>\n\t<img decoding=\"async\" alt=\"\" src=\"http:\/\/www.fnarena.com\/ckfinder\/userfiles\/images\/AUDUSD.jpg\" style=\"width: 680px;height: 326px\" \/><br \/>\n\t&nbsp;<\/p>\n<p>\n\tCombining both observations, it is the TechWizard&#039;s view that we are about to witness a general retreat in risk appetite, which should see risk assets correct from near 18 month highs.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The TechWizard warns risk appetite is about to retreat.<\/p>\n","protected":false},"author":9,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[7],"tags":[29,26],"acf":[],"_links":{"self":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/56460"}],"collection":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/comments?post=56460"}],"version-history":[{"count":0,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/56460\/revisions"}],"wp:attachment":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/media?parent=56460"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/categories?post=56460"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/tags?post=56460"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}