| Weekly Trend: | Up |
|
| Daily Trend: | Up |
|
| Daily Momentum: | ___ | Down |
An afternoon rally from about 2.00pm resulted in a positive end to the trading week. The XJO managed to put on 27.2 points today and finish down 100.23 points for what was a trying trading week. Today’s price action puts the daily trend back into an up position but despite this, setups are hard to come by. The week’s decline has been enough to do technical damage to many setups that appeared to be in formation. We’ll scan the charts on the weekend for setups as usual – longs, and shorts as well in case price continues to decline next week. At time of writing it looks like the US market is trying for a positive end to the week as well. The Dow Jones futures are up 52 points in night trading. We’ll know soon enough if that sentiment transpires to the day session. The Australian Dollar has also found a bit today – currently at 1.0121 against the Greenback.







Fri, Feb 25, 2011
ASX Commentary