| Weekly Trend: | Up |
|
| Daily Trend: | Up |
|
| Daily Momentum: | ___ | Up |
A slow start to the day without much lead from the US and on anticipation of the local CPI release. The CPI came in lower than expected which caused a brief knee-jerk selloff, but the market found some traction and closed strongly. As per recent comments, the market is at an overbought state and we’re still at the mercy of US earnings surprises over the coming 2 weeks. Cautiously bullish.
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Wed, Jul 28, 2010
ASX Commentary