November 6 2009 – Caution still req’d

ASX Commentary

November 6 2009 – Caution still req’d

Fri, Nov 6, 2009

A solid session today but its still not quite time to be jumping back in. The Daily trend remains down, the weekly trend flipped to flat and we still have issues with regard to the condition of the US markets. Of more importance is tonights US employment data which will set the tone for the coming weeks. If we get upside follow through from tonights US report then we can start looking at long setups again, of which there are a few awaiting. The Growth Portfolio has turned itself back on however the Systematic Power Setups remain in lockdown until that daily trend changes. I am hesitant to suggest any trades with the market in mixed mode.

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This post was written by:

Nick Radge - who has written 899 posts on The Chartist.

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