| Weekly Trend: | Down | |
| Daily Trend: | Down | |
| Daily Momentum: | ___ | Flat |
Another weak effort by the ASX. Gains are not being held and volumes are low. We expected weak volumes on this bounce as a signal of waning buyer demand, but to date we haven’t got much bounce. Early next week will remain quiet as well for a number of reasons. Several Asian markets are close, the US market is closed Monday and we also have much of the ASX earnings coming through in the coming fortnight. Everyone will probably sit on their hands until this has all passed and then decide on some direction. A good reference for ASX earnings can be found HERE. The bullish divergence is having the desired effect in the US but as yet its not gained the traction here.
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