| Weekly Trend: | Up |
|
| Daily Trend: | Up |
|
| Daily Momentum: | ___ | Flat |
A very flat day on the market today, the XJO edging up to close 5.8 points higher. A pause could be expected here following a few good days, given the recent choppy price action of the market. The weak divergence mentioned on Friday has been negated and no longer exists on our divergence indicator, though that is now firmly in the overbought area. The next few days may just determine if this breakout is going to hold. The lackluster session follows a similar flat US session on Friday night, the Dow Jones up roughly 29 points. The Australian Dollar continues to look strong and holds parity against the USD, currently at 1.0151.







Mon, Feb 7, 2011
ASX Commentary