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Michael Gable of Fairmont Equities suggests the S&P500 will continue to trend lower before a big technical test

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By Michael Gable  The Aussie market has pushed past that key 7400 level and clearly remains in an uptrend for now. Today's research has identified a buying opportunity with a chart on Commonwealth Bank ((CBA)). Our prior CBA comment was on 13 April when it was trading near $87. We noted the formation of the ascending triangle and commented that "as soon as we get a break above the horizontal line (if we get a break), CBA shares would then likely make a run higher and attempt to test the $100 level." After making that run to over $105, CBA suffered a couple of large days down on high volume....

Switzer Daily 30 July 2021 How come if our economy is being locked down, the stock market’s going up? That’s the question I’m getting all the time right now from normal people. And maybe last night’s Switzer Investing TV programme (on our YouTube channel) explains why this apparent oddity of a rising share market with our two biggest states being in shutdown mode is happening. Let’s look at this chart-wise. S&P/ASX 200 six months What this chart shows is that our stock market continued to rise, albeit at a slower pace from June, despite Melbourne and then Sydney going into lockdown.