18 November 2009 – Second weak close

ASX Commentary

18 November 2009 – Second weak close

Wed, Nov 18, 2009

Yet again the market firmed on open but slid through the balance of the day. This is the second straight session where early gains have been unable to hold. Many of the broader US indices are trying to punch up into new high ground, so it could be that traders are feeling more consolidation is needed before the next leg higher. My preferred exposure remains with the commodity based stocks. Seasonally this period running into January is very strong but seasonals have let us down a bit this year.

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.

ASX, ASX stocks, Dow Jones, S&P 500

This post was written by:

Nick Radge - who has written 894 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 […]