Morning Report Monday 7 September 2015
OverviewAs we have been pointing out, markets repeat themselves in many ways including chart patterns, price and time measures, and seasonal statistics. We have just experienced the worst month in over 3 years and now it’s September, historically the weakest month for US equities going back to 1927.We believe that US equity markets are now due for 4/5 weeks of choppy price action into October prior to forming a good bottoming pattern and a classic rally into Christmas. Whether the US Indexes or the ASX200 actually make fresh 2015 lows is uncertain but, as discussed in our weekend report, if we witness any fresh lows the likelihood is that they will be brief.
Market are likely to slowly become more and more fixated on whether the US will raise interest rates for the first time in many years at the Feds policy meeting on 16-17th of this month.
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