My last technical analysis piece was written at the start of June. It is always useful to go back and look at what the technical analysis suggested at the time and how things panned out. The summer months turned out to be unseasonably kind if you invested in developed world equities (and in particular in US equities). However, October has been extremely volatile and equity and bond markets have fallen. Interestingly this latest sell-off has been compounded by technical factors as much as it has been by newsflow and macro themes. So I think it is an opportune time to review where we are and where markets are likely to head next.
As ever with these pieces I like to recap what technical analysis is and how it works. I always advise investors not to try and time the market because they will never get it right.
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