| Weekly Trend: | Down | |
| Daily Trend: | Down | |
| Daily Momentum: | ___ | Flat |
The market was heavy today after China announced late on Friday that again it was curtailing commercial bank lending again in an attempt to slow the economy. That said activity was very quiet for a number of reasons; Chinese New Year and many Asian markets closed, a US holiday tonight and a plethora of ASX earnings due in the coming week. It seems most are willing to sit in their hands and take direction once all the news is digested. The market still has a heaviness to it yet we’re inclined to stay with the ‘sell the bounce’ theory at this stage. Bigger picture we remain in the broader range that has been in place since last September.
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