22 September 2009 – Momentum lost

ASX Commentary

22 September 2009 – Momentum lost

Tue, Sep 22, 2009

Our Daily Momentum indicator has turned flat after several days of non-activity. It also shows bearish divergence but we don’t pay too much heed to that one preferring our standard divergence indicator as the best trigger. That one though is showing a slight degree of Type-A Bearish divergence so we’ll be watching price action closely in the coming days. Activity has been quiet so far this week with traders citing the US FOMC meeting on Wednesday and Thursday as a holding pattern. As each day goes on we are able to move stops higher to get exposure lower.

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