| Weekly Trend: | Up | |
| Daily Trend: | Up | |
| Daily Momentum: | ___ | Down |
Chinese banking authorities have instructed some major banks to halt their lending during the rest of January because of imminent inflationary pressures. This comes not long after the Central bank quietly raised interest rates but todays action took the bullish steam out of the local market. US futures are trading only slightly lower (approx. 25 Dow points) so it doesn’t seem to be a nasty reaction across the board yet. What will be interesting is todays volumes comparative to closes. Weak closes on high volumes will be a concern, especially if we see follow through in the US tonight.
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Wed, Jan 20, 2010
ASX Commentary