Daryl Guppy is an independent technical analyst who appears frequently on CNBC Asia. He runs training, analysis and resource workshops for retail and professional financial market traders involved in stocks, CFDs, warrants, derivatives, futures and commodities in China, Malaysia, Singapore and Australia. He has his own trading company, guppytraders.com.
The term “as safe as a bank” has pretty much become an oxymoron since 2008, when the global financial crisis began. The "Basel III" announcements, already described as old generals fighting past wars, will unlikely do much to bring confidence back to the sector.
As recently as three weeks ago we remained bullish on oil. This view has now changed with a confirmation of a longer term chart pattern, with the Nymex oil chart now showing a bearish pattern.
There are some significant differences, but also similarities, in the behavior of the blue chip Dow Jones Industrials and the broader S&P 500 indices. Historically the most significant difference is in the way the 2009 recovery trend was defined.
Last week's occurence of the second Hindenburg Omen in as many weeks has investors concerned if an Armageddon scenario is in the cards for the U.S. stock markets.
The dollar continued its slide against the yen on Wednesday, moving within sight of a 15-year low versus the Japanese currency. Just how low will the dollar-yen go?
In my previous commentary on the U.S. dollar index published in May, I mentioned that the index, which surged in mere weeks then, was primed for a collapse due to the parabolic nature of its uptrend.
The dollar's recent strength has been explained by most market analysts as a result of the euro weakness rather than any fundamental support for the greenback. In fact, a closer look at the dollar's chart - particularly the dollar index - suggests the currency may be primed for a collapse.
The Death Cross sounds suitably terrifying and ominous, but its signals are not reliable.
Strong, fast downtrends don't normally reverse direction quickly so there's a high probability of price consolidation.
Gold has dropped below its key support level near $1150, taking it to a new five-and-a-half-year low and setting the next support target near $980.
The euro-dollar has developed a broad consolidation between 1.05 and 1.14, a trend that is detached from the Greek crisis.
Daryl Guppy is an independent technical analyst who appears frequently on CNBC Asia.