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Monday 21st March, 2011

Mon, Mar 21, 2011

ASX Commentary

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

The Australian Dollar has seen further upside after a strong previous session and has returned to parity after last week’s sell off – at 1.0022 at time of writing. US futures are also showing gains in night trading – the Dow Jones Futures currently up 77 points. Our market quickly erased early losses and experienced choppy trading during the afternoon. The XJO closed up 16.4 points or 0.4% after a pretty subdued day. The Information Technology and Gold sectors were the biggest gainers – up 1 and 1.6% respectively. Weakness was seen in the Industrials, Consumer Discretionary and Consumer Staples sectors. Volumes were down today on the last few sessions. Libya and Japan remain the big news events at the moment. Japan’s market was, however, closed for a public holiday today.

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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