Feb 25 2010

Weekly Trend: Flat Daily Trend: Down Daily Momentum: ___ Up Big reversal day for the ASX today and continues to hint at our thinking that a near term high has been put into place. Over the course of the day the market reversed its early gains and dropped 2.1% on high volume. One of the [...]

Feb 24 2010

Weekly Trend: Flat Daily Trend: Flat Daily Momentum: ___ Up We mentioned last night that the technical picture suggested a near term was imminent and it seems we may have found it. Today saw decent weakness on back of numerous factors, including a weak lead from US equities and base metals, as well as strong [...]

Feb 23 2010

Weekly Trend: Flat Daily Trend: Flat Daily Momentum: ___ Up All in all a quiet days trading with most emphasis on eanings releases. The market was soft through most of the day yet rallied back to close on its highs after Hong Kong rallied hard in late trade. We continued to be held by the [...]

Weekly Trend: Flat Daily Trend: Flat Daily Momentum: ___ Up Big strong day in the local market which has now retraced 50.0% of the Jan 11 – Feb 9 decline. As is always the case. we expect these retracements to travel back to the 50.0% to 61.8% level before reversing again. That said we need [...]

Feb 19 2010

Weekly Trend: Down Daily Trend: Down Daily Momentum: ___ Up The trend remains down. The bounce we’ve been discussing over the last few weeks has slowly taken shape, although with the US raising interest rates over night there is now scope that we’ll start heading lower for a week or so before completing that bounce. [...]

Feb 17 2010

Weekly Trend: Down Daily Trend: Down Daily Momentum: ___ Up Finally some strong upside movement that is directly related to the Type-A Bullish divergence. We’ve been on about this for a week now so its good that its offering up the strength. The larger question is whether or not we’re going to skip to new [...]

Feb 16 2010

Weekly Trend: Down Daily Trend: Down Daily Momentum: ___ Flat Some would say the market did well today, but taking a closer look it was a poor performance. Firstly early trade saw the index +52pts before closing at +22, so well off the intra day highs. This weakness was due to comments surrounding the Greece [...]

Feb 15 2010

Weekly Trend: Down Daily Trend: Down Daily Momentum: ___ Flat The market was heavy today after China announced late on Friday that again it was curtailing commercial bank lending again in an attempt to slow the economy. That said activity was very quiet for a number of reasons; Chinese New Year and many Asian markets [...]

12 Feb 2010

Weekly Trend: Down Daily Trend: Down Daily Momentum: ___ Flat Another weak effort by the ASX. Gains are not being held and volumes are low. We expected weak volumes on this bounce as a signal of waning buyer demand, but to date we haven’t got much bounce. Early next week will remain quiet as well [...]

Feb 11 2010

Weekly Trend: Down Daily Trend: Down Daily Momentum: ___ Flat Momentum has today turned flat. The Type-A Bullish divergence is starting to do its job. I expect we’re 2-days into a bounce that will see the market head back toward 4730 to 4790 in the coming week or two. In an ideal situation this bounce [...]