Archive | September, 2010
September 16th, 2010
Weekly Trend: Up Daily Trend: Up Daily Momentum: ___ Up The move over the last month has been very impulsive so a pause is within realms of being highly probable. If todays weakness is to follow through to the downside then a reversal back toward 4450 – 4490 is to be expected and is also [...]
Continue reading...September 15th, 2010
15. September 2010
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Weekly Trend: Up Daily Trend: Up Daily Momentum: ___ Up A change of momentum today produced by Japan. The BOJ intervened in the Yen and gave Asian idices a jump higher, also dragging Australia up with it. This coupled with recent positive news out of China continues to keep the market bouyant and as stressed [...]
Continue reading...September 14th, 2010
14. September 2010
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Weekly Trend: Up Daily Trend: Up Daily Momentum: ___ Up After breaking out yesterday through the significant 4600 level prices continued to probe cautiously higher. I say cautiously because other major markets, namely all US indices, are yet to overcome the same resistance levels that the ASX did yesterday. However, even though we may take [...]
Continue reading...September 13th 2010
13. September 2010
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Weekly Trend: Up Daily Trend: Up Daily Momentum: ___ Up A big strong day after positive growth data out of China. The all important 4600 level was penetrated today which is also a confirmed upside breakout of the triangle. The measured move for the triangle is back to the April highs circa 5000. We do [...]
Continue reading...Friday 10th September, 2010
10. September 2010
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Weekly Trend: Up Daily Trend: Up Daily Momentum: ___ Up The all important 4600 was attampted yet again today but held strong. The market reversed hard off 4598 and closed in the red so it seems to me that a number of people have their eye on that level. We’ll take a more in-depth look [...]
Continue reading...September 7th 2010
7. September 2010
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Weekly Trend: Up Daily Trend: Up Daily Momentum: ___ Up On the surface a quiet day, but on closer inspection the market got a little wobbly late in the day after the Labor announcement was made. What we’ve not really had a good handle on to date is how much a Labor victory had been [...]
Continue reading...September 6th 2010
6. September 2010
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Weekly Trend: Up Daily Trend: Up Daily Momentum: ___ Up A very strong day out in the mid cap resource and energy sectors which is the area of my main focus and one that has been mentioned in these pages before. If I can say anything bad about this recent strength it’s that it may [...]
Continue reading...September 2nd 2010
2. September 2010
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Weekly Trend: Up Daily Trend: Up Daily Momentum: ___ Up An up day to be sure, but an overly convincing one, although we did most of our upside yesterday. Many stocks gapped open on the US lead but dropped back intra day, which is quite usual. The bulls are chomping at the bit. Those stocks [...]
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16. September 2010
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