| Weekly Trend: | Up |
|
| Daily Trend: | Up |
|
| Daily Momentum: | ___ | Up |
Our market just keeps on keeping on at the moment. More gains today from the outset and fading a little in the last hour or so of trade. Both major indices put on half a percent for the day for the fourth straight day of higher closes. Today’s price action comes on modest volumes and our divergence indicator is now heavily overbought. That’s not to say it won’t travel higher but many would be looking for a pause sooner rather than later after such a stellar run. Interestingly many of the setups being put up in the ASX Systematic and Discretionary portfolios have failed to trigger in the last couple of days, but remain valid setups. The Energy & Gold sectors were among the strongest as overnight trade in oil and gold was solid. There is little lead from the US futures at present as to what the next US session may bring with the release of unemployment data tonight.







Fri, Apr 1, 2011
ASX Commentary