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Friday 31st December, 2010

Fri, Dec 31, 2010

ASX Commentary

Weekly Trend: Up
Daily Trend: Up
Daily Momentum: ___ Flat

The XJO has finished off 2010 on a negative note, down 45.2 points. Approximately twenty points of this decline occurred into the close of today’s session in a broad based sell off. For the year of 2010, the XJO has ended down 2.6%, in what has been a tough year of trading. The All Ordinaries did a little better, down 0.73%. Discretionary power setups have been difficult to find of late with volumes in many stocks drying up. There has also been many false breakouts evident and the broader market quite listless. The US market is closed tonight. Best wishes to you all for the new year and may 2011 be a prosperous one for you. A year of the Bull would be nice!

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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