26 October 2009 – Soggy

ASX Commentary

26 October 2009 – Soggy

Tue, Oct 27, 2009

The market remains a little soggy today, although it did manage to close well up off its lows. Weight on the market is the possibility that the RBA will raise rates by 0.50% next week. Most pundits think 0.25% but there is some speculation that more could be in store. Also, a very large section of the S&P 500 report earnings this week. The Dow Jones Transports is looking very weak after its failure to break into new high ground. We’ll be watching this with interest because it may suggest a deeper correction is nearby.

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

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