Another weak performance…

ASX Commentary

Another weak performance…

Wed, Mar 17, 2010

Tuesday March 16th 2010

Weekly Trend:		Up
Daily Trend:		Up
Daily Momentum:	___	Up

I just wonder if this market can get any more pathetic? Yet again, a perfect repeat of yesterday – early strength that faded into the afternoon. Yesterday we had China putting come negative vibe on traders but today it was the RBA who have basically said they’re happy to continue raising rates to 5%. I get the feeling that this waning momentum in the ASX will be accelerated to a deeper decline should the US start to reverse form, although as stated in previous commentary the US seems intent on holding it together, at least for now.

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

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