Weakness is spreading in Asia as the Australian All Ords Index ($AORD) breaks support from the April lows. The chart below shows the index testing support last week. $AORD closed at 4873 on Monday, which is just below the April lows. Also notice that the index has been underperforming the S&P 500 since late February.
Click this image for a live chart.
Click this image for a live chart.
About the author:
Arthur Hill, CMT, is the Chief Technical Strategist at TrendInvestorPro.com. Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London.
Learn More
