The key level we’re watching at present is 4587. A break down through that suggests a deeper correction toward 4400 is underway. However, if price can hold above 4587 we have a significant bullish triangle to contend with that may provide the springboard into the New Year. We’ll take a closer look at this in more depth tonight in the XJO review. But for now we’re seeing red across the board so its a game of trade management until the trend can resolve itself in a more favourable way.
** Note ** As of January 1st 2010 the current track record for the ASX Systematic Power Setups will be replaced by a real time trading account. This will ensure a much more accurate representation of results and slippage.
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