10 November 2009 – Trend flips UP

ASX Commentary

10 November 2009 – Trend flips UP

Tue, Nov 10, 2009

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.

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ASX, ASX stocks, Dow Jones

This post was written by:

Nick Radge - who has written 894 posts on The Chartist.

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