Sextant Market Letter

For Serious Students of the Stock Market

by Daniel Goulding, call (07) 4771 4577.

This research drills down deep. Daniel takes you on a ride where few in the industry have the knowledge to go. Click here for more detail. Key Concepts.

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Monday
Jan302012

Volume 2, Issue 4, January 25 2012

DateJanuary 30, 2012

By Daniel Goulding,

Key Concepts of the Sextant Market Letter.

Summary

There is no evidence of a psychological bottom to date.

Despite what some have called constructive behaviour out of the December-29 low, the rate of ascent of the rally has been far too slow to be meaningful.

As I type this morning, the top 20 are up over 1% while small cap stocks are up less than 0.2%.

Volatility, a calling card of tops, is picking up.

Sector leadership is bearish with the inflationary issues of Materials and energy doing all the heavy lifting.

There is an interpretation of wave structure that argues the current rally has reached its expiration date and that a decline to 3800 at a minimum must follow in the next 1 to 3 months. 

This dip should prove a buying opportunity with the market to return to 4500/4600 in the first half of this year.

Beware this rally will be of the countertrend variety.

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* This report was prepared by Daniel Goulding. It represents the views and opinions of the author. It is not intended for use by any third party, without the approval of Daniel Goulding. While this report is based on information from sources which are considered reliable, its accuracy and completeness cannot be guaranteed. Any opinions expressed reflect my judgment at this date and are subject to change. Daniel Goulding is an Authorised Representative No 259179 of Grow Your Wealth Pty Ltd ABN 60 130 727 981 AFSL No. 403509. Opinions, conclusions and other information expressed in this report are not given or endorsed by Grow Your Wealth Pty Ltd, unless otherwise indicated. The information contained in this Report is General Advice only, as the information or advice given does not take into account your particular objectives, financial situation or needs. Please Read Disclaimer.