22 October 2009 – China data

ASX Commentary

22 October 2009 – China data

Fri, Oct 23, 2009

The weak closes over the last week have had enough strength to flip our momentum indicator all the way to the DOWN position. We’re still seeing that small coiling pattern we discussed last night but there are a few negative signs coming from the US charts that have been discussed in a little more depth. You can view those in the Global Chart Research area. Todays weakness was more or less due to the Chinese numbers that were very good, but just not quite up to expectations.

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Nick Radge - who has written 898 posts on The Chartist.

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