{"id":56813,"date":"2010-06-30T10:10:55","date_gmt":"2010-06-30T00:10:55","guid":{"rendered":"http:\/\/www.fnarena.com\/index.php\/2010\/06\/30\/critical-levels-approaching-for-equities\/"},"modified":"2010-06-30T10:10:55","modified_gmt":"2010-06-30T00:10:55","slug":"critical-levels-approaching-for-equities","status":"publish","type":"post","link":"https:\/\/staging.fnarena.com\/index.php\/2010\/06\/30\/critical-levels-approaching-for-equities\/","title":{"rendered":"Critical Levels Approaching For Equities"},"content":{"rendered":"<p>\n\tBy Rudi Filapek-Vandyck<\/p>\n<p>\n\tFollowing what looks like an extremely weak ending for this year&#039;s month of June, investors might draw some consolation from the fact that historical analysis by technical market analysts at Barclays has revealed the S&amp;P500 rises on the first trading day in July no less than 81% of the time.<\/p>\n<p>\n\tThe TechWizard, however, warns present weakness across global equity markets is not a good omen.<\/p>\n<p>\n\tThe Wizard notes both US indices as well as major indices in Australia seem to be carving out a head-and-shoulders formation on price charts, which would suggest much lower levels should be expected for the months ahead.<\/p>\n<p>\n\tSurely, says the Wizard, the fact that the second shoulder is a rather weak one suggests equity markets are lacking strength (other chartists have doubted the head-and-shoulders formation&#039;s importance because of the rather weak right shoulder).<\/p>\n<p>\n\tAdding to the Wizard&#039;s negative view is the fact the 20 moving average has proved too strong resistance for both US indices as in Australia.<\/p>\n<p>\n\tThe prospects for the Dow Jones Industrial Average to close below 10,000 on a weekly closing basis, and the ASX200 below 4175, are looking more and more feasible, says the Wizard.<\/p>\n<p>\n\tWere this the case, the Wizard believes much larger losses should be expected.<\/p>\n<p>\n\t<img decoding=\"async\" alt=\"\" src=\"http:\/\/www.fnarena.com\/ckfinder\/userfiles\/images\/Wizard_DJIA.jpg\" style=\"width: 700px;height: 322px\" \/><\/p>\n<p>\n\t<img decoding=\"async\" alt=\"\" src=\"http:\/\/www.fnarena.com\/ckfinder\/userfiles\/images\/Wizard_ASX200(2).jpg\" style=\"width: 700px;height: 322px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The TechWizard reports equity indices in the US and in Australia are approaching key support levels.<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[7],"tags":[26],"acf":[],"_links":{"self":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/56813"}],"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\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/comments?post=56813"}],"version-history":[{"count":0,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/56813\/revisions"}],"wp:attachment":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/media?parent=56813"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/categories?post=56813"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/tags?post=56813"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}