August 20th 2010

Fri, Aug 20, 2010

ASX Commentary

Weekly Trend: Neutral
Daily Trend: Neutral
Daily Momentum: ___ Down

Another stiff down day for the broader market but much of the mid-cap resource and energy sector held up reasonably okay. Technically though we retain a view that ongoing weakness is unfolding and will continue to do so until late October. Daily and weekly trends are both in a neutral state right here, but will turn down with another negative session. Momentum remains firmly down. Positions in the Discretionary setups are difficult to decipher right here without any substantial direction, although my bias is to the downside.

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Nick Radge - who has written 894 posts on The Chartist.


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