September 30th, 2010

30. September 2010

Weekly Trend: Up Daily Trend: Up Daily Momentum: ___ Down The Type-A Bearish Divergence that alerted several days ago really kicked on hard today with a downside trend day, that is one that opens on its highs and closed on its lows. The market attempted to recover mid afternoon but got whacked into the close [...]

September 29th, 2010

29. September 2010

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Weekly Trend: Up Daily Trend: Up Daily Momentum: ___ Flat Another day of not spinning the wheels. Early gains from the positive US lead were lost after New Home Sales data weakened for the 4th successive month. This basically put pressure on banking stocks but in the scheme of things it was a directionless day [...]

September 28th, 2010

28. September 2010

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Weekly Trend: Up Daily Trend: Up Daily Momentum: ___ Flat A low volume ‘stall’ day today but not a bad effort after the lead from the US last night. That said we still have the Type-A bearish divergence in place and this will continue to weigh on the market, and perhaps allow some give back [...]

27th September, 2010

27. September 2010

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Weekly Trend: Up Daily Trend: Up Daily Momentum: ___ Flat A great trend day today – the market opening on its lows and trading strongly higher all day and closing firm. Obviously we got a bood lead from the US, but also China and Japan kicked higher as well. The pause I would have liked [...]

September 24th, 2010

24. September 2010

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Weekly Trend: Up Daily Trend: Up Daily Momentum: ___ Flat Subscribers should not have been surprised with todays weakness. It’s been on the cards for a week or so and we reiterate that, at this stage, it’s a healthy signal. I wouldn’t be surprised to see price meander a little lower over the coming week. [...]

September 23rd, 2010

23. September 2010

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Weekly Trend: Up Daily Trend: Up Daily Momentum: ___ Flat We discussed in the ASX-200 (XJO) review last night that the broader market is taking a pause and that we viewed this as a positive. Indeed, even some low volume weakness over the coming few weeks would also be viewed in a positive light. Today [...]

September 22nd, 2010

22. September 2010

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Weekly Trend: Up Daily Trend: Up Daily Momentum: ___ Up The local market kept a slight bid tone on back of US futures trading and gold. Gold is currently $15 higher in night trading. The trend is firmly up yet price is a little over extended in the short term. Some sideways movement for a [...]

September 21st, 2010

21. September 2010

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Weekly Trend: Up Daily Trend: Up Daily Momentum: ___ Up A pause day today with some resource stocks taking a slightly deeper pause than really wanted. A retracement of recent broader market strength is warranted at some stage though. The good news is that many US indices broker through important resistance levels last night, but [...]

September 20th, 2010

20. September 2010

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Weekly Trend: Up Daily Trend: Up Daily Momentum: ___ Up A slightly soggy session for most of the day although price started heading higher again after lunch on back of strengthening Asian markets. Not a great deal to add right here. All trends and momentum are up. No need to consider short side trades and [...]

September 17th, 2010

17. September 2010

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Weekly Trend: Up Daily Trend: Up Daily Momentum: ___ Up Good reversal of form today after yesterdays weakness which does suggest yesterday was more influenced from the futures xpiry rather than another underlying shift in sentiment. The trend is strong and I reiterate that there is no need to be looking at short side positions. [...]

Archive | September, 2010