| Weekly Trend: | Down | |
| Daily Trend: | Down | |
| Daily Momentum: | ___ | Up |
Finally some strong upside movement that is directly related to the Type-A Bullish divergence. We’ve been on about this for a week now so its good that its offering up the strength. The larger question is whether or not we’re going to skip to new highs again and look back at this weakness as just a correction, or whether or not we’re having a brief bounce before heading lower again. I favour the latter scenario but will be willing to go with the bullish flow if proven incorrect. There have not been that many bullish divergence setups with individual stocks (unlike the US) but should the trend change to up again we’ll be seeking out breakout trades.
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Wed, Feb 17, 2010
ASX Commentary