Equity Markets Due For Consolidation

by Gary Glover

This chart of the Dow Jones Industrials should concern us in terms of whether we have too much upside in the short term.  As much as I think equity markets are still bullish longer term this broadening pattern strongly suggests that this current market looks quite extended, is nearing strong resistance, so a period of consolidation is most likely on the cards so from now untill mid 2014 gains should be alot harder to come by going forward.

   

Disclaimer

Gary Glover is an Authorised Representative (Rep No. 259215) of Novus Capital Limited ("Novus"). Novus is a holder of Australian Financial Services Licence No 238 168. Novus, its directors, officers, associates and employees each declare that they, from time to time, may hold interests in financial products and/or earn brokerage, commission, fees or other benefits from financial products mentioned in this e-mail or attached documents. Unless specifically stated within this page or an attached document, any information communicated by this e-mail constitutes unsolicited general financial product advice which has been compiled without regard to any investor's individual objectives, financial situation or needs. It is not specific advice for any particular investor. Before making any decision about the information provided, you need to consider the appropriateness of this information having regard to your individual objectives, financial situation and needs and consult your adviser. Any indicative information and assumptions used here are summarised and also may change without notice to you, particularly if based on past performance or relate to a future matter.
 

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