| Weekly Trend: | Down | |
| Daily Trend: | Down | |
| Daily Momentum: | ___ | Down |
Several things of interest tonight. Firstly there are some partial setups forming such as AWC, KZL and WPL. These need a few more days before they suit my criteria but they may suit yours now. There is good Type-A bullish divergence across a number of markets, both ASX and US indices as well as commodities like Gold. We look at this as a reason for a near term bounce but this is not expected to change the trend. Had today closed a little firmer, rather than weakly, then I would be suggesting some reversal type trades for the bounce. If we get a better close tomorrow then we may issue some brief buy setups.
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Mon, Feb 8, 2010
ASX Commentary