10 November 2009 – Trend flips UP

As you can see both the Daily and Weekly trends have flipped to UP and as a result the Systematic Powersetups have come back online. Personally I retain some doubts, specifically with the broader indices in the US making secondary lows, but until they confirm a lower high pattern we could still zip higher. I note some brokers calling for a very strong rally into Christmas. The recent M&A activity is certainly a vote of confidence as is the large volumes going through over the last 3 days. As I always say we need to go with the flow and with the current information we have that flow is UP.

Tags: ASX, ASX stocks, Dow Jones