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May 7 2010

Sat, May 8, 2010

ASX Commentary

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

Horrendous 24-hours. The markets are a mess. The charts are a mess. We need to allow this volatility to settle. Anything could happen again tonight, especially in light that the US has a major economic release and that 20-mins of trades executed across ALL US exchanges will be cancelled. This will cause further havoc. Stand aside.

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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