1 October 2009 – Weak start to new Qtr

ASX Commentary

1 October 2009 – Weak start to new Qtr

Thu, Oct 1, 2009

The market is dragging its feet and I guess after the recent advance off the July lows we can expect some pause to occur at some stage. The question is by how much. A recent survey by Sky Business News, of which I contributed, suggested the consensus depth for a coming dip would be 7.5%. I suggested 10%. The Chinese markets are closed till August 9th, US reporting season is just starting to roll around and October is the month where many ASX companies hold their AGM’s. Seasonally October is a weak month but so was September. Our main technical warning is meomentum which keeps ticking down.

0saves

Save

If you enjoyed this post, please consider leaving a comment or subscribe to our newsletter and receive a free sample of our analysis each week.

This post was written by:

Nick Radge - who has written 899 posts on The Chartist.

Contact the author

Facebook comments:

Latest Share Trading Articles

The Hidden Strengths of Volume Analysis (part 2) September 19, 2010
In the last article I discussed two examples of how and why volume can show the changing face of supply and demand. When the order of supply and demand is change we will get a change in market direction, sometimes a significant change in trend or otherwise some degree of retracement of the prior move. [...]The Hidden Strengths of Volume Analysis (part 2) is […]
The Hidden Strengths of Volume Analysis (part 1) September 19, 2010
The power of correct volume analysis cannot be overlooked. Unfortunately the ability to read volume correctly is not readily discussed or freely available. Off-the-cuff remarks such as, “increased volume on advances is bullish and increased volume on declines is bearish” are bantered around but that’s as far as it goes. The correct use and application [...]T […]
The Psychology of Trading September 19, 2010
The most important part of investing and trading is psychology. Investing is a constant struggle where the battleground is not the market or advice given but comes from within you. You will face stress over losses, you will be in turmoil in deciding to enter or exit a position and it will place many demands [...]The Psychology of Trading is a post from: Shar […]