September 7 2009 – Quiet trade

ASX Commentary

September 7 2009 – Quiet trade

Mon, Sep 7, 2009

A quiet session with a slight positive bias ahead of a US holiday tonight. I have added a few base breakout trades in tonights selection, similar to the AAX trade we’re currently riding, however, I continue to stress caution over the coming weeks. We’re still seeing our divergences trace out, we have the end of the US summer holidays tomorrow and lastly we still have some overhead selling to expect when the FTSE indices re-weight in the coming weeks. If the market can hold itself together through these next few weeks then I expect another good leg higher but seasonally September is a very weak month.

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This post was written by:

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

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