August 30th 2010

Mon, Aug 30, 2010

ASX Commentary

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

One day doesn’t make a new trend but we suspected that some bullish follow through was going to be seen after Fridays activity. We posted several new long trades for aggressive traders late yesterday and all of these were filled. AAX and KZL were the standout movers, but we need to see follow through. If upside momentum continues we’ll be moving from a bearish stance to neutral at around the 4523 level basis the XAO. We’ll do a full update on the broader market indices in the coming days:

Note: We’re about to start adding in futures and FX setups within the Global Power Setups area (formally US Power Setups).

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


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