| Weekly Trend: | Neutral |
|
| Daily Trend: | Up |
|
| Daily Momentum: | ___ | Down |
Interesting times indeed. The market seems intent on retesting the August 9th and June 21st highs circa 4600. A break up and through, especially one that doesn’t meander between here and there, would be quite a significant bullish signal with a possibility that a drive back toward 5000 could be unfolding. That’s not our highest probable expectation but it’s something that needs to be sitting in the back of our minds. The Small Ordinaries, specifically the Resource and Energy sectors, is very strong across the board with some nice trends starting to develop. This Friday is options expiry in the US and all evidence points to quiet trade between now and then. If so, we may keep seeing the local market bid up.
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