Tom Scollon Markets generally look tame.  Benign.  Sort of “Goldilocks” phase.  Not too hot.  Not too cold.

You can see from the XAO weekly chart below that the markets are in a trading range mode:


The following is a daily version:


You can see that the market has not moved much in the last 12 months.  Those who bought may or may not be happy – depending on what they bought.   Some may also have had some anxious times as there have been times when it looked like markets could tank.  But they held as there is still support for equities.  In fact support for investments in general.  Property included – putting aside even the China factor.

Turning back to the XAO we look at Elliott:



This suggests a possible fall to 4800/4700 – but this is not a big deal.  It is small and may in fact be a healthy consolidation and attract new buying interest as there is not a lot of buyer excitement at the moment.

But I am not necessary overwhelmed by the projection in that it seems hardly plausible that it will fall that much in the next two weeks.

The Finance and Materials sector also project easing in the short term – on daily charts:



The monthly outlook suggests the dreamy times will one day return:


Of course they will.  It is only a matter of time.  But what happens in between also counts. 


Enjoy the ride

Tom Scollon