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Friday 23rd December, 2011

Fri, Dec 23, 2011

ASX Commentary

Weekly Trend: Down
Daily Trend: Down
Daily Momentum: ___ Flat

The XJO added to opening gains in afternoon trade to close 1.2% higher, with volume dropping off as you would expect. After lagging considerably yesterday, the Small Ordinaries bounced back with a 1.8% gain and all sectors ended in the black. It was a flat week, one of consolidation, as the XJO closed down about half a percent. The ASX resumes trading on Wednesday 28th December so there will be no further updates for Australian stocks until then. From everyone here at The Chartist, enjoy your break and we hope you and your families have a great Christmas.

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About the Author:

Nick Radge has over 25 years’ experience in the financial markets. He is Head of Research & Trading at The Chartist, manages money using active management strategies and consults to various financial planning, stock broking and accountancy firms. He can be found on Facebook, Google + and on Twitter.

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