18 August 2009 – A good recovery

ASX Commentary

18 August 2009 – A good recovery

Tue, Aug 18, 2009

Quite a good day today all things considered after last night drop in the US. Flicking through the charts tonights shows many stocks reversed off their intra day lows and closed with a firm tone. We’re starting to get through more reportings but so far none have been excessively bad, in fact the moves have been to the upside (JHX rallying 21% today). I’m still very wary because we do have the Type-A Bearish Divergence at play. I have added another setup tonight but really stress caution for the next week or so.

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

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