| Weekly Trend: | Up |
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| Daily Trend: | Up |
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| Daily Momentum: | ___ | Up |
On the surface a quiet day, but on closer inspection the market got a little wobbly late in the day after the Labor announcement was made. What we’ve not really had a good handle on to date is how much a Labor victory had been priced into the market. Obviously the importance is the implementation of the Resource Super Tax and its impact on those sectors. It certainly looks like our favoured mid-cap miners took some pain late in the day. However, will it follow through tomorrow? or will we continue to see strength and look back at this as a knee-jerk reaction? Time, as always, will tell us.
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