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Thursday 21st April, 2011

Thu, Apr 21, 2011

ASX Commentary

Weekly Trend: Up
Daily Trend: Up
Daily Momentum: ___ Flat

European and US markets had solid sessions over night; the FTSE100 up 2.1% and the Dow Jones up 1.5%. Of note is the Dow Jones closing at new highs for the year but not backed up by the Nasdaq or S&P500 doing the same. Nor is it confirmed by the Dow Jones Transports Index which we keep an eye on for divergences or non-confirmation of movements on the Dow Jones. Our market continued on with yesterday’s good form – the XJO closing up over 54 points. In a similar vein, the Australian Dollar continues to power ahead against a weak USD and is trading at 1.0762 at time of writing. US futures are up nicely at this moment – DJIA + 51 in night trading. Easter is upon us so we trust everyone will enjoy their break. Trading over Easter is as follows:- ASX – closed Friday, Monday & Tuesday – re-opens Wednesday 27th; US trades tonight, closed Friday night for Good Friday and trades both Monday & Tuesday nights as usual. Updates for tonight’s US session will be done Saturday. Once again, enjoy the holiday.

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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