This chart shows my concerns with the broader ASX market at the moment. Its a topic that we’ve been discussing for some time and whilst we haven’t had the drastic flip lower the divergence indicator has certainly seen price stall over the last few weeks. This stall is the major reason why the vast majority of stocks have been unable to get up and on with it, but there could be good news just around the corner once this stall has completed.¬† In the interim we’re reluctant to add long trades and not particularly willing to go short.
Click to enlarge
Tue, Apr 28, 2009
ASX Commentary